Azora, a leading global alternative investment platform, and Naiz Homes, a real estate developer specialising in high-quality residential projects distinguished by their architectural design and prime locations, have jointly acquired Nueva Marina Real Estate (NUMA), the company that owns the R3 and R5 residential plots within La Térmica, one of Málaga’s most significant urban regeneration developments.
The transaction, structured as a joint venture, will enable the development of nearly 600 beachfront homes in what has become one of Málaga’s most significant urban regeneration developments.
Javier Rodríguez-Heredia, Managing Partner at Azora, said: “We are delighted to partner with Naiz Homes on a landmark urban regeneration project of this scale. This transaction reinforces Azora’s commitment to the Spanish residential market and, in particular, to Málaga, a city distinguished by its dynamism, strong growth prospects and its position as one of Spain’s leading hubs for investment and residential development.”
La Térmica is a large-scale regeneration project on the former site of Endesa’s thermal power plant, creating a new mixed-use neighbourhood that will combine residential, hospitality, commercial and community uses. The development comprises more than 120,000 square metres of gross buildable area and envisages the development of over 800 homes, together with a broad range of amenities and public facilities.
The transaction, on which Colliers, Gómez-Acebo & Pombo and Garrigues acted as advisers, reinforces Azora’s commitment to the Spanish residential market and to high-impact urban regeneration projects, while enabling Naiz Homes to further strengthen its position as a developer of distinctive residential developments across some of Spain’s most dynamic markets.
“Málaga has established itself as one of Europe’s leading real estate investment hubs, and this project is a testament to the confidence in the city’s long-term potential. We are approaching this transaction with the ambition of delivering a residential development that will contribute to the transformation of this new urban district while generating a positive economic and social impact for Málaga,” said Enaut Saiz, Partner at Naiz Homes.
The project will contribute to the transformation of Málaga’s western waterfront, one of the city’s fastest-growing areas and one of the main destinations for both domestic and international real estate investment.
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