Calma Capital invests selectively in opportunities with high value creation potential, maintaining full control over the capital structure and asset operations

Our business


Calma Capital invests in residential, commercial and hospitality properties in Spain. Our investment model covers the full investment cycle from acquisition, through stabilization to divestment. We focus on both operational and under development assets with strong value appreciation potential through capital structure optimisation and active asset management. We work closely with owners, banks, public institutions, real estate funds, investors, alternative lenders and other creditors in sourcing, financing and monetizing our investments. By combining our global network with our local team and expertise, we are able to offer a differentiated proposition adapted to market dynamics.

In 2018, Calma Capital acquired a three-star 108 room hotel located in Miramar, Valencia. The hotel is situated 150 meters away from the beach with great views over the Mediterranean sea. Its amenities include several conference rooms, an outdoor swimming pool, a restaurant and a bar.

View Hotel Miramar website

This resort is located in the southern coast of Tenerife, just 12 km away from one of Spain’s busiest airports. The hotel complex comprises 400 fully-fitted ocean view apartments, ranging from 55 to 85 sqm in size, a 3,500 sqm natural sea water swimming pool, several restaurants, a bar, a night club, a kids club and other amenities.

The hotel is part of a landmark 40,000 square meter coastline hospitality development project and caters mainly for Northern European tourists.

Following the acquisition of certain financial rights, Calma Capital entered into an exclusive agreement to acquire the asset as part of an insolvency proceeding.

View Alborada Ocean Club video

View Hotel Alborada website

Calma Capital has entered into a strategic partnership with Aria Hotels, a subsidiary of the Libra Group, for its real estate expansion into Spain. Aria Hotels brings expertise in the management of small and medium sized character hotels that cater for the international and domestic tourist segment.

Aria Hotels is a growing boutique hotel and villas brand with properties on the Greek islands and mainland – and now Spain. It continues to expand with heritage properties in amazing locations.

Calma Capital provides the capital for the acquisition and renovation of select properties to be managed by Aria Hotels. We are capitalizing on a unique investment opportunity to acquire and transform assets of historical value to be managed as hotels, contributing to the preservation of our national heritage.

View Aria Hotels website

Img our business investments@3x

Assets and operational management

Asset Management sits at the core of Calma Capital’s value creation model. Our management skills encompass traditional asset management, property management and hospitality management. We take pride in actively managing our investments to maximize value creation with a dedicated team of professionals that bring extensive experience. We seek to apply our global best practices to the Spanish market. We selectively provide management services to third parties.

Calma Capital also carries out the direct management of its asset, such as Alborada Ocean Club and Hotel Miramar Playa, including full hospitality management services, with commercial, financial and operational policies.

Calma Capital is the operator of the Miramar Hotel located in the Mediterraean town of Miramar. The hotel caters for the international and domestic markets. Its location, next to a white sand beach, generates stable demand throughout the year.

The investment represents a unique repositioning opportunity through selective capital expenditure, active revenue management and exploiting the Food & Beverage potential of the asset.

View Hotel Miramar website

Calma Capital is the sole operator of Alborada Ocean Club, including owned and third party units. The property operates mainly under the all-inclusive model with a wide range of outsourced leisure offerings including diving, sailing, hiking, dolphin watching, water parks, etc. The resort is one of the main employment generators in its area.

View Alborada Ocean Club video

View Hotel Alborada website

Calma Capital is responsible for the asset management of some office units within the La Estrella office building at the Talluntxe Business Park next to Navarra’s international airport.

Img asset operational management


To capitalize on the residential market development opportunity in Spain, Calma Capital has recently entered into a strategic partnership with Madrid-based Lemon Promociones, a real estate project management company with over €400 million of successfully completed projects.

Img development@3x