Bellevilles

What Bellevilles does

Bellevilles is a French foncière solidaire (solidarity real estate company) founded in 2019 and headquartered in Paris, with regional offices in Toulouse, Marseille, and Bayonne. The company acquires, ecologically renovates, and long-term manages vacant or under-used buildings — former schools, markets, freight stations, factories, department stores — to provide below-market premises for social economy organizations (associations, SCIC cooperatives, ESS structures), artisans, affordable housing residents, and multi-functional third places (tiers-lieux) across seven French regions. As of 2024, it manages assets equivalent to approximately €150M across 15 active sites, with 17 projects delivered since 2020 and 337 projects studied over a five-year horizon.

The company operates a vertically integrated platform organized around two principal vehicles. Foncière Bellevilles is the investment arm that issues solidarity shares (actions solidaires) via the Vasco.fund/investir.bellevilles.fr portal and LITA.co, channeling citizen savings into property acquisition and renovation; investors benefit from a 25% income tax reduction under the IR-PME ESUS scheme, with €13M+ raised from 1,400-1,500 citizens since 2020 and over €20M mobilized through co-investment partners. Atelier Bellevilles, a wholly-owned construction and promotion subsidiary created in 2020, internalizes design, AMO (Assistance à Maîtrise d'Ouvrage), MOD (Maîtrise d'Ouvrage Déléguée), and CPI (Contrat de Promotion Immobilière) capabilities, with proprietary expertise in straw bale insulation, bio-sourced materials, systematic material reuse (4.2% reuse rate achieved at Génération Pasteur Albi), and participatory construction methods.

Bellevilles monetizes through a hybrid of (i) below-market rental income on the property portfolio leased to ~16 operating companies (more than half structured as SCIC cooperatives), (ii) construction management and promotion fees via Atelier Bellevilles for both internal and external project sponsors (e.g., Génération Pasteur Albi €2.7M contract, Tiers-Lab des Transitions Marseille €800k), (iii) co-investment and financial engineering structuring with institutional partners (Banque des Territoires/CDC, Action Logement, regional councils) on large projects such as PHARES (€8.5M) and Polto Stains (€7.3M), and (iv) consulting and training services for municipalities and project sponsors. Distribution is community-led, anchored by recurring site-based apéros, an annual citizen general assembly, the co-organized KISS (Kermesse de l'Immobilier Social et Solidaire), industry presence at MIPIM and Forum Bois Construction, and direct citizen onboarding via owned investment platforms. The regulatory foundation rests on ESUS accreditation (since 2019) and Label Finansol (since 2025), and the governance is a multi-body SAS structure (Associés, La Boussole operational committee, Comité d'Investissement, Conseil de Surveillance) with five co-founders (Alexandre Born, Adrien Ramirez, Jérémie Loevenbruck, Sébastien de Hulster, François Gendre).

Name

Bellevilles

Legal name

Bellevilles SAS

Website

https://bellevilles.fr

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Bellevilles is a Paris-headquartered solidarity real estate company (foncière solidaire) founded in 2019 that acquires, ecologically renovates, and long-term manages buildings to provide below-market premises for social economy organizations, cooperatives, artisans, and affordable housing across seven French regions.

Ownership category

akta.pro rank

Product category

Solidarity Real Estate

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Open-End Investment Funds (52591)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Community Development & Affordable Housing Funds (FSANAJAK)

akta.pro secondary industries

ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL), AML/KYC, Investor Onboarding & Compliance Services (FSAAAMAE)

Keywords

• Solidarity real estate
• Property investment
• Ecological renovation
• Asset management
• Construction management

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Rental income from managed properties: Bellevilles generates rental revenue from a portfolio of properties leased to social economy organizations, cooperatives, artisans, housing residents, and third-place operators at below-market rents. With 15 sites in operation as of 2024 and assets under management equivalent to approximately €150M.
2. Citizen investment fundraising: Bellevilles raises equity from individual citizens through tax-advantaged investment products (actions de la foncière solidaire), channeling capital into real estate acquisition and renovation projects. €13M raised from 1,400+ citizen investors since 2020, with 2 capital raises through LITA.co.
3. Co-investment and leverage: Bellevilles mobilizes co-investment from institutional partners (Banque des Territoires, Action Logement, regional councils) to amplify citizen capital. Over €20M mobilized from co-investors, enabling projects such as PHARES (€8.5M), Polto Stains (€7.3M), and others.
4. Property development and construction management fees: Through Atelier Bellevilles, the company charges fees for construction management (MOD), promotion (CPI), and technical advisory (AMO) services. Notable contracts include Génération Pasteur Albi (€2.7M) and Tiers-Lab des Transitions Marseille (€800k).

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Bellevilles is a solidarity real estate company (foncière solidaire) that acquires, ecologically renovates, and long-term manages real estate assets to provide affordable premises for social economy organizations, affordable housing, and community third places. Through its Foncière Bellevilles investment vehicle, it mobilizes citizen capital via solidarity shares offering a 25% income tax reduction under IR-PME ESUS; through its Atelier Bellevilles subsidiary, it delivers construction, promotion, and technical advisory services; and it manages a portfolio of 15+ active sites across France valued at approximately €150M equivalent in assets.

Product overview

Bellevilles is a solidarity real estate company (fonciere solidaire) founded in 2019 that operates a platform model comprising the Fonciere Bellevilles investment vehicle (offering solidarity investment products with tax benefits) and Atelier Bellevilles (its construction and promotion subsidiary). The company offers a vertically integrated suite of services spanning Investment, Asset Management, Construction & Promotion, Place Management, and Consulting. The portfolio includes 20+ managed properties across France serving social economy activities, housing, and third-place functions. Bellevilles manages approximately 150M euros in assets (2024) and has raised 13M euros from 1,500 citizen investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Foncière Bellevilles
• Atelier Bellevilles
• Asset Management

Quantifiable outcome

• €13M raised from 1,400+ citizen investors since 2020; over €20M co-invested by institutional partners
• +4 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

18 partnerships are on record, tiered core, major and minor.

• HalagecoreStrategic or Co-development PartnerHalage is the association managing the PHARES building at Île-Saint-Denis and a core partner in its rehabilitation and expansion. Bellevilles leads the foncière solidaires role in the joint project, with Halage providing operational management of the ESS ecosystem within PHARES.
• ANRU (Agence Nationale pour la Rénovation Urbaine)coreStrategic or Co-development PartnerANRU is a key public partner for major urban renewal projects including PHARES (Île-Saint-Denis) and Polto (Stains), providing funding and strategic alignment for social real estate within NPNRU (Nouveau Programme National de Renouvellement Urbain).
• ANCT (Agence Nationale de la Cohésion des Territoires)majorStrategic or Co-development PartnerANCT partners with Bellevilles on territorial development projects including Ilot Prudhon (Ivry-sur-Seine) and Maison Clovis (Clermont-l'Hérault), providing funding and strategic support for local development initiatives.
• LITA.cocoreChannel Partner/ Reseller/ DistributorLITA.co is the equity crowdfunding platform through which Bellevilles has conducted at least 2 capital raises, mobilizing citizen investment. Key distribution channel for Bellevilles' investment products.
• Vasco.fundcoreChannel Partner/ Reseller/ DistributorVasco.fund is the primary investment platform used by Bellevilles for citizen share subscriptions in the SCA Foncière Bellevilles. Investment portal accessible at investir.bellevilles.fr.
• Plateau UrbainmajorStrategic or Co-development PartnerFellow solidarity real estate company and co-organizer of the KISS (Kermesse de l'Immobilier Social et Solidaire). Plateau Urbain and Bellevilles share complementary approaches to social real estate development.
• Yes We CampmajorStrategic or Co-development PartnerYes We Camp is a key ally in social real estate development, sharing a vision for temporary and permanent social spaces. Partner in the KISS event and various project developments.
• De WatoumajorStrategic or Co-development PartnerDe Watou is a co-investor and co-developer on the Aux Fabriques Réunies project in Verdun (€6.3M total), partnering with Bellevilles and CDC on the transformation of the Art Deco building.
• Commune Mesure / De WatoumajorStrategic or Co-development PartnerPart of the 'Socle Commun' network (Base Commune, ESSentiel, De Watou) working on shared standards and practices for solidarity real estate. Bellevilles participates in this network alongside partner organizations.
• FAIR / FinansolmajorStrategic or Co-development PartnerFAIR is the French association for responsible and solidarity finance. Bellevilles holds the Finansol label and participates in FAIR network activities including the KISS event organization.
• France Tiers-LieuxmajorStrategic or Co-development PartnerNational network for third places in France. Bellevilles is an active member and participates in the network's advocacy and knowledge-sharing activities.
• Mouvement Impact FrancemajorStrategic or Co-development PartnerBellevilles is a member of Impact France (formerly AVISE impact), participating in Impact Lab acceleration program and the broader impact entrepreneurship ecosystem.
• MouvESSminorStrategic or Co-development PartnerNetwork for social entrepreneurship in ESS. Bellevilles participates in MouvESS activities and advocacy for the social economy sector.
• Envirobat Occitanie / EkopolisminorStrategic or Co-development PartnerRegional sustainable building networks. Bellevilles participates in Envirobat events (including Forum Bois Construction) and holds the Prix OFF from Ekopolis for La Grande Coco.
• FEVEminorStrategic or Co-development PartnerFEVE (Fermes En Vie) partnered with Bellevilles for a joint épargne citoyenne à impact event in Rennes on June 1, 2026, showcasing solidarity investment opportunities.
• SNCF ImmobilierminorStrategic or Co-development PartnerSNCF Immobilier is listed as a 'Grand Compte' partner, suggesting a commercial relationship around the use of railway-adjacent properties. Le TLM (Paris) is located along the Petite Ceinture railway.
• Terres de LiensminorStrategic or Co-development PartnerSolidarity land trust organization. Bellevilles participates in shared governance activities alongside Terres de Liens and maintains a cooperative relationship.
• SolifapminorStrategic or Co-development PartnerSolidarity foundation for affordable housing. Member of the KISS collective organizing the Kermesse de l'Immobilier Social et Solidaire.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Yes We Camp: French social real estate operator building temporary and transitional urban projects (Les Grands Voisins, Halle Girard). Direct peer in the tiers-lieux ecosystem with similar citizen-engagement and adaptive reuse approach; partner of Bellevilles in the Socle Commun network.
• LITA.co: European equity crowdfunding platform specialized in impact and solidarity investments. Direct peer as a citizen-investment channel for ESS projects; has hosted 2 Bellevilles capital raises.
• Plateau Urbain: Fellow French solidarity real estate operator developing temporary and permanent third places on vacant properties for social economy actors. Co-organizes the KISS event with Bellevilles and shares the same community-led, below-market-rent model targeting ESS structures.
• Vasco.fund: Citizen investment platform for solidarity real estate and impact projects in France. Peer in the solidarity-investment distribution channel; hosts the primary subscription interface for Foncière Bellevilles shares.
• Habitat et Humanisme: Major French movement providing affordable housing to underprivileged populations through a network of associations and foncières solidaires. Direct peer in solidarity real estate, sharing a below-market rent model and citizen-investor fundraising approach.
• Terres de Liens: Solidarity land trust operating across France to acquire agricultural and rural real estate for ecological and social purposes. Comparable solidarity-finance and citizen-investment model (Foncière Terre de Liens) and similar ESS-aligned governance structure.

Broad incumbents

• Novaxia: French impact real estate developer focused on urban transformation and ecological renovation (Novaxia Neo, Novaxia R). Comparable in ecological renovation and impact positioning, but broader commercial scope and larger AUM.
• Foncière 3F / Groupe Action Logement: One of France's largest social housing landlords managing tens of thousands of affordable units through ESUS-aligned entities. Larger incumbent in social/affordable housing real estate; comparable mission but vastly larger scale and traditional institutional rather than citizen-led.

Others

• Banque des Territoires (Groupe CDC): Caisse des Dépôts subsidiary financing territorial development projects including social real estate. Co-investor in Bellevilles projects (PHARES, Polto) and ecosystem partner; included as a peer because it is the primary institutional capital provider in Bellevilles' space.
• Emmaüs France: National federation of Emmaüs organizations operating solidarity-based real estate, logistics, and second-hand economy activities. Thematically comparable as a major solidarity/social economy actor with real estate footprint, though with a different operational model (more insertion-focused than impact-investment).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@foncieresolidairebellevilles
• Facebookfacebook.com/Bellevilles.fonciere
• LinkedInlinkedin.com/company/bellevilles
• Instagraminstagram.com/bellevilles_fonciere

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bellevilles