Now that I know the reason for the low mass participation, I don't think there's an issue at all. It's just a matter of fact that most of my model's mass does not participate in the vibration modes, because I decided to actually model the foundation and bottom floor elements (I could have just inserted restraints to the columns and not model the bottom floor slab).
My colleagues, when they modeled their structures, did not model the foundation or bottom floor elements. That explains why they got a high mass participation in their modal analyses. Nevertheless, the low frequencies of the structures they modeled are not expected in this type of structures (the best book available in Portugal regarding LSF structures says it's expected for the natural frequency of these structures to be above 10 Hz).
So their results denote that the innate stiffness of these structures is absent from their models. It seems to me that they did not model the walls or any equivalent bracing frames.