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Deka Inmobilien bought FPM 41 for €125M
22 July 2019 | Ana Tavares

German fund Deka Inmobilien is the new owner of the Fontes Pereira de Melo 41 (FPM41) building, having concluded the purchase of the asset from ECS Capital for 125 million euro.

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Located at Avenida Fontes Pereira de Melo, in Lisbon, and also known as “torre de Picoas” (Picoas tower), the asset was sold by fund FLIT, property of ECS Capital.

According to Eco, the deal was closed this Thursday, with a yield of around 4%. Both buyer and seller declined to comment on the operation.

The bidding stage to buy the FPM 41 building took place between April and May 2018, and the German fund was one of the interested parties, having offered the highest bid. In April this year, Eco reported that Deka’s should be the winning bid with around 120 million euro.

Developer Edifício 41, connected to ECS Capital, invested a total of 70 million euro in the 22.500 sqm and 67.8 meters tall building’s construction. The building has 6 underground floors and 221 parking spots, besides a public green area to connect with the Alfredo da Costa Maternity. Its tenants are KPMG, PLMJ and Via Verde.