FPM41 is a 22,000 GLA office tower development located Lisbon's CBD. The project aimed to become a landmark building in the city, in terms of architecture and ESG features.
In the context of a financial distress situation, ECS invested in a land plot, considering its prime location and the opportunity to build a grade A office building catering to top tier tenants, after more than 7 years of no new office developments in the city. ECS combined the design, licensing and development front, with a pre-leasing initiative for an occupancy of more than 80%. The building was finally pre-leased to two renowned tenants under long leases, which enabled ECS to secure development finance. Construction started in 2016 and concluded in 2019 with the tenant fitout, achieving a LEED Gold certification.
ECS executed a forward sale structure in 2018, closing in 2019, at a record low yield, to a leading European investment fund manager.
i2S is a dominant player in the Portuguese market for insurance software solutions in the life segment.