Urbanitae enters the office market in Portugal with a new capital gains project in the financial heart of Porto. This time, we are partnering with Osborne+Co, a global manager specializing in large-scale commercial developments, to develop a modern office complex in the Boavista area. Funding will be available next Monday, April 28 at 4:00 p.m. (UTC+2).
An exclusive asset in Porto’s financial district
The Francos project will be developed on Rua Tenente Valadim, next to the Francos metro station, right in the Boavista financial district. The area is fully consolidated, offering all necessary services and showing high demand for quality workspaces.
The complex will cover a gross above-ground floor area of 20,588 sqm and will include office spaces, coworking areas, auditoriums, retail spaces, and 180 parking spaces—all within a modern, sustainable design. Once completed, the building will be leased to multiple tenants, with an estimated 18-month operating period prior to its sale.
Behind the project is Osborne+Co, a global manager with over 30 years of experience and a presence in markets such as the UK, UAE, India, Ireland, and Portugal. The company specializes in large-scale office and mixed-use developments, always with a focus on sustainability, innovation, and quality. Osborne+Co will oversee the project end to end alongside local partners, from land acquisition to marketing and asset sale.
Investment structure and preferred return
The Urbanitae investment will follow a capital gains strategy, meaning investors will partner with the developer to carry out the project. The total investment amount will be €5,000,000, which will go towards land acquisition and providing liquidity to the development company until bank financing is secured for the construction phase.
The Francos project aims to acquire the land in April 2025 and begin construction in January 2026. It already has a PIP (a prior urban planning report confirming the project’s feasibility), so only the detailed project and technical plans need to be approved. This is expected to be completed between September and December 2025.
A key highlight of this project is that Urbanitae investors will benefit from a 15% annual preferred return (IRR). This means that before the developer recoups any investment or earns profits, investors will receive their capital back along with the agreed return. This structure safeguards investor capital and ensures profit distribution priority.
Since this is an equity project, regulations prevent us from disclosing expected total returns. However, investors can estimate it using the figures in the project factsheet and the following formula:
(Expected revenues – Estimated costs) / Total equity
You can learn more about the project in this video:
Estimated timeline
The projected schedule for the Francos project is as follows:
– Q2 2025: Initial investment by Urbanitae investors and land acquisition.
– Q3–Q4 2025: Final project approvals.
– Q1 2026: Construction begins.
– Q4 2027: Construction completed and rental phase begins.
– Q1–Q2 2029: Asset sale and exit from the investment.
Overall, the estimated investment period is 46 to 50 months, subject to standard execution and marketing conditions.
Got questions?
If you’d like more details, join our webinar with the developer on Friday, April 25 at 1:00 p.m. (UTC+2), where you can learn more about Osborne+Co and this exciting new project in Porto. If you can’t attend, feel free to email us at contacto@urbanitae.com or call us at (+34) 911 23 25 22.
Don’t miss this opportunity to invest with Urbanitae in one of the most ambitious office developments in Portugal!
