A statement, released by BPI, states that the bank is "part of a banking syndicate in which it also participates as an agent bank," having been chosen by the Dutch hotel investor The July, which was advised by the real estate agency CBRE, to "secure green financing for the conversion of the Baronesa Palace into a luxury tourist property."

According to the institution, "the transaction was completed through a €29 million syndicated green loan with a 15-year term," with BPI contributing €14.5 million to the transaction.

According to the bank, the "loan is intended to finance the conversion of a historic 16th-century mansion (Palácio da Baronesa), located on Largo do Conde Barão in Lisbon, into a luxury aparthotel with 88 accommodation units, a restaurant, a spa, a swimming pool, and a 1,200-square-metre garden."

The July is a Dutch hotel chain specialising in premium aparthotels, founded in 2012, which currently operates units in Amsterdam and London.

The company is now preparing to open new locations in Dublin, Lisbon, and Amsterdam, scheduled for 2026.