Azora and Naiz Homes to acquire Nueva Marina Real Estate

Global alternative investment platform Azora has partnered with design-focused real estate developer Naiz Homes to acquire Nueva Marina Real Estate (NUMA).

La Térmica

NUMA owns the R3 and R5 residential plots within La Térmica, a major urban regeneration initiative in Málaga.

The transaction has been structured through a joint venture aimed at developing nearly 600 high-quality beachfront homes. This project is a key component of the larger La Térmica development, which is transforming the former site of the Endesa thermal power plant into a vibrant, mixed-use neighbourhood.

Once complete, the broader La Térmica project will encompass over 120,000 m2 of gross buildable area, featuring more than 800 homes alongside extensive hospitality, commercial, and community facilities.

For Azora, this investment reinforces its commitment to the Spanish residential market and high-impact urban regeneration. For Naiz Homes, the partnership solidifies its reputation for delivering distinctive residential projects in Spain's most dynamic markets. Together, they are contributing significantly to the revitalization of Málaga’s western waterfront, an area experiencing rapid growth and significant real estate investment.

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.”

Enaut Saiz, partner at Naiz Homes, added: “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.”

Colliers, Gómez-Acebo & Pombo, and Garrigues acted as advisers on the transaction.