What Brownfields does

Brownfields is a Paris-based private real estate developer founded in 2006 that specializes in the reconversion of urban brownfield sites across France and Belgium. The company acquires polluted, obsolete, or underutilized industrial and commercial land — including former refineries, gas plants, pharmaceutical facilities, hypermarkets, and vacant offices — and executes the full value chain: regulatory transfer of environmental liability via the Tiers Demandeur procedure (27 prefectural decrees to date, pioneered in 2016), site remediation (decontamination, asbestos removal, demolition), urban planning and development, construction, and long-term asset holding. Since 2006 the company reports 218 sites converted or in conversion, 415 hectares of brownfield reconverted, 848,000 m² of activity spaces developed, and 15,300 dwellings redeveloped, with 8,500 direct jobs created in activity zones.

The business operates through three integrated layers. At the capital layer, Brownfields manages successive closed-end investment funds (FPCI) — Fund 2 (€110M, 2014), Fund 3 (€250M, 2017), and Fund 4 (~€300M, 2022, classified under SFDR Article 9 as an impact fund) — anchored by Banque des Territoires (Caisse des Dépôts). At the operating layer, wholly-owned subsidiary Néole handles residential property development and commercialization, while joint vehicle SCI Foncière des Générations (30% co-invested by Banque des Territoires) acquires and holds managed residences (senior, student, coliving); wholly-owned Foncière des Industries holds industrial buildings for SME-PMI tenants, and Foncière de Logistique Urbaine holds urban last-mile logistics assets. Co-development partnerships with VINCI Immobilier, Linkcity, OGIC, Citallios, and ARTONE supplement in-house execution on larger projects. The 2025 operating year delivered 1,350 dwellings and 40,000 m² of activity space, with 1,500 dwellings and 50,000 m² commercialized, against a 15% activity growth rate and 200% growth in remediation activities.

Revenue is generated across four streams: one-time sale of developed residential and commercial units (via Néole), recurring rental income from the Foncière vehicles, fund management fees and carried interest on ~€660M of cumulative committed fund capital, and professional services for site remediation and global ZAC soil management. Primary customers span institutional investors (insurance companies, pension funds, sovereign funds via the FPCIs), industrial site sellers (Engie, Novartis, TotalEnergies, Leclerc, Diaverum), local governments and public developers (Citallios), and end-buyers ranging from individual homeowners to social housing operators (In'li, Hauts de Seine Habitat, CDC Habitat, Immobilière 3F) and managed residence operators (Ovelia, Bikube/Magora). The company has 11–50 employees, is led by President Patrick Viterbo and Directeur Général Yann Doublier, and is headquartered at 7 rue Balzac, 75008 Paris.

Name

Brownfields

Legal name

Brownfields

Website

https://brownfields.fr

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Brownfields is a Paris-based private real estate developer that acquires, remediates, and redevelops polluted or obsolete urban sites across France and Belgium, operating an integrated model spanning site acquisition, environmental remediation, development, and long-term asset holding through successive investment funds and Foncière vehicles.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Remediation Services (56291), Land Subdivision (23721), Commercial and Institutional Building Construction (23622), Industrial Building Construction (23621)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Brownfield Redevelopment & Land Reclamation (Cleanup for Reuse, Risk-Based Closure) (EUAIALAI)

akta.pro secondary industries

Brownfield Site Assessment & Remediation (BPALAKAA), Urban Renewal, Brownfield Redevelopment & Land Reuse (BPAIANAI), Site Remediation & Contaminated Soil Handling (IMAFAKAG)

Keywords

• Brownfield site remediation
• Urban real estate development
• Property asset management
• Residential property development
• Soil decontamination services

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development and Promotion: Brownfields develops residential, commercial, and mixed-use projects on reconverted brownfield sites through its subsidiary Néole. Revenue is generated from the sale of completed units (apartments, student housing, hotels, commercial spaces) to individual buyers and institutional purchasers (e.g., In'li, Hauts de Seine Habitat for social/intermediate housing).
2. Asset Holding (Foncières): Long-term asset holding through dedicated vehicles: Foncière des Générations (acquires managed residences such as senior, student, and coliving units) and Foncière des Industries (holds activity/industrial buildings for SME-PMI tenants). Revenue is generated through rental income and asset appreciation.
3. Investment Fund Management: Brownfields manages successive investment funds (Brownfields 2, 3, and 4) raised from institutional investors. Fund 4 is an Article 9 SFDR impact fund. Management fees and carried interest generate revenue while deploying capital into brownfield acquisition and development.
4. Remediation and Site Preparation Services: Brownfields provides site remediation, decontamination, asbestos removal, and demolition services, either for its own projects or as part of broader ZAC (urban development zone) management. This includes the global management of excavated soils across entire development zones.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Brownfields acquires, remediates, and redevelops polluted, obsolete, or underutilized urban sites (brownfields) in France and Belgium. The company operates an integrated model covering the full real estate value chain: site acquisition and remediation using the Tiers Demandeur procedure, urban development and real estate development through its subsidiary Néole, and long-term asset holding through three dedicated foncière vehicles. All projects are developed exclusively on sites to be reconverted, with no natural spaces consumed.

Product overview

Brownfields is a negative land artificialization operator offering an integrated real estate model spanning five business lines: land acquisition and holding, decontamination/remediation, urban development, property development, and long-term asset holding. The company's product portfolio includes its Néole promotion subsidiary for residential development; three real estate funds (Foncière des Générations for managed residences, Foncière des Industries for industrial parks, and Foncière de Logistique Urbaine for urban logistics); and successive FPCI investment funds (currently Fund 4, an SFDR Article 9 impact fund). Projects span residential (apartments, student housing, senior living, coliving), commercial (hotels, retail), and industrial uses, all developed exclusively on brownfield sites requiring decontamination, demolition, and remediation.

Differentiator

Problem solved

Functional benefit

Brands

• Néole: Property development subsidiary of Brownfields, handling construction and commercialization of residential housing units.
• Foncière des Générations
• Foncière des Industries
• Foncière de Logistique Urbaine

Products and services

• Néole Residential Property Development Wholly-owned property promotion subsidiary that constructs and commercializes residential housing units (apartments, student housing, senior residences, coliving, mixed-use) developed on reconverted brownfield sites by Brownfields.
• Foncière des Générations (Managed Residences SCI) ISR-labeled (ISR Immo for 3 years) real estate investment vehicle (SCI) that acquires and holds managed residences including senior living, student housing, and coliving facilities developed on previously reconverted brownfield sites. Joint venture with Banque des Territoires.
• Foncière des Industries (Industrial and Business Parks) Wholly-owned real estate holding vehicle that owns and leases industrial and commercial buildings to SMEs-PMIs within Brownfields-developed activity parks, providing long-term asset retention and rental solutions.
• Foncière de Logistique Urbaine (Urban Logistics) Urban logistics real estate fund providing proximity logistics solutions for territories and businesses, including last-mile delivery facilities, complementing the company's activity park portfolio.
• Brownfields FPCI Investment Funds (Funds 2, 3, 4) Successive private equity investment funds (FPCI Brownfields 2, 3, and 4) raised from institutional investors to finance brownfield site acquisition, remediation, and development projects. Fund 4 is classified as an SFDR Article 9 impact fund with targets of 80+ hectares of natural spaces created.
• Brownfield Site Acquisition and Remediation Services Integrated service line covering acquisition of obsolete, polluted, or underutilized urban sites (including contaminated industrial sites), decontamination, asbestos removal, demolition, and soil remediation. Brownfields pioneered the Tiers Demandeur procedure in France (first obtained August 2016), enabling transfer of environmental remediation responsibility from the last industrial operator.
• Lisle Lumière (Residential Program, Poissy) Residential development program in the Poissy ecoquartier Rouget-de-Lisle, offering apartments from studio to 5-room duplexes with outdoor spaces. Targeting Q2 2028 delivery.
• Rue Maurice Gunsbourg (Residential Program, Ivry-sur-Seine) Residential development program in Ivry-sur-Seine offering 2-room to 5-room duplexes with reduced 5.5% VAT applicable to social/affordable housing units.
• Les Penthouses Championnet (Residential Program, Paris 18e) Premium residential development program in Paris 18e offering studio to 5-room duplexes with discounts up to €50,000 and waived notary fees for early reservations.

Quantifiable outcome

• 665 hectares of natural spaces preserved (equivalent natural space not consumed due to brownfield reconversion)
• +6 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

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

• Foncière des Générations (SCI)coreStrategic or Co-development PartnerSCI Foncière des Générations is a joint subsidiary of the Banque des Territoires and Brownfields (OPPCI managed by Brownfields). It holds managed residences (senior, student, coliving) acquired from Brownfields' development pipeline. It was awarded the ISR Immo label (Investissement Socialement Responsable) for 3 years, distinguishing it as one of only 4 funds achieving VEFA operations to obtain this certification.
• VINCI ImmobiliermajorStrategic or Co-development PartnerCo-development partner with Brownfields on major transformation projects including the Suresnes former Philips headquarters redevelopment (25,000 m² of housing, 4-star hotel, coliving, and nursery on the banks of the Seine) and the Colombes hypermarket reconversion project.
• LinkcitymajorStrategic or Co-development PartnerCo-development partner with Brownfields on emblematic urban transformation projects, including the Cergy-Pontoise tower conversion (former EDF-GDF building transformed into student residence, offices, and retail) and the Rue Belliard urban development in Paris 18e (26,000 m²).
• OGICmajorStrategic or Co-development PartnerCo-development partner with Brownfields on the Marseille project (reconversion of a former Diaverum clinic into 430 residential units, 13 buildings, with nursery and commerce) and the Colombes hypermarket reconversion project.
• ARTONEminorStrategic or Co-development PartnerCo-development partner with Brownfields on Belgian projects including Ixelles (former car workshop converted to 200-unit student residence) and Auderghem (transformation of office building into 83 dwellings).
• CitalliosmajorStrategic or Co-development PartnerCitallios is the urban developer/operator of the ZAC Rouget de Lisle eco-district in Poissy. Brownfields partnered with Citallios on soil remediation and global excavated soil management across all lots of the ZAC, and developed the first residences (Lisle au Vert, Lisle Lumière) in co-promotion.
• BikubeminorChannel Partner/ Reseller/ DistributorOperator of managed residences (coliving, student housing) developed by Brownfields. Bikube operates the Montpellier coliving residence (172 units) and is a co-development partner on the Ixelles student residence project in Belgium.
• OveliaminorChannel Partner/ Reseller/ DistributorOperator of managed senior residences developed by Brownfields. Ovelia operates the Bourg-en-Bresse senior residence (104 units) acquired by the Foncière des Générations.
• MagoraminorChannel Partner/ Reseller/ DistributorOperator of managed residences, specifically the student residence in Cergy-Pontoise acquired by the Foncière des Générations from the Brownfields/Linkcity development.
• Université de Strasbourg / CNRSminorStrategic or Co-development PartnerResearch partnership with the Faculty of Life Sciences of the University of Strasbourg and CNRS for ecological renaturation of the Écoparc Rhénan (former Reichstett refinery). Includes ongoing doctoral research and 80 experimental zones for studying ecological restoration of degraded industrial soils.
• ORTEC-SOLEOminorStrategic or Co-development PartnerBrownfields partnered with ORTEC-SOLEO in a consortium to win the contract for global management of excavated soils across the entire ZAC Rouget de Lisle in Poissy, providing cost certainty and environmental optimization for the urban development zone.
• Rubis TerminalminorStrategic or Co-development PartnerRubis Terminal Infra, owner of an oil depot adjacent to the Écoparc Rhénan, co-financed and co-developed the 10-hectare ecological renaturation zone created by Brownfields and the University of Strasbourg on the former refinery site. Rubis Terminal became the long-term owner and maintainer of the renaturation zone.

Scale indicators21 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Eiffage Immobilier: Real estate arm of Eiffage Group, active in residential and commercial development across France. Comparable to Brownfields on urban regeneration projects, including office-to-residential conversions, though with a less specialized brownfield model.
• Icade: Large French listed real estate company active in commercial property, residential, and healthcare real estate, with a public-health subsidiary that overlaps Brownfields' Foncière des Générations (senior residences). Operates at much larger scale and across all asset classes.
• Nexity: France's largest residential real estate developer, with activities spanning new construction, refurbishment, and managed residences. A broad-incumbent comparator given the overlap on residential development and serviced residences (students, seniors, coliving).

Others

• Gecina: Major French listed REIT focused on prime office, residential, and student housing. Relevant as a long-term asset-holding peer to Brownfields' Foncière des Générations (student/senior/coliving holdco model), though at much larger institutional scale and without brownfield origination.

Emerging players

• Compagnie de Phalsbourg: Independent French developer known for large mixed-use urban regeneration projects (e.g., Belvedere in Paris). Comparable in the urban-reconversion niche but with different site-selection criteria and a less remediation-focused model.
• Frey: French developer and asset manager specialized in retail parks and open-air shopping centers, including a retail/activity-park focus that overlaps with Brownfields' Foncière des Industries and Foncière de Logistique Urbaine. Smaller scale, different end-use focus.

Direct peers

• OGIC: French residential and mixed-use developer that co-develops with Brownfields (Marseille, Colombes). Comparable in developing medium- to large-scale urban residential projects, with overlapping client base in social housing operators.
• VINCI Immobilier: Major French real estate developer that is both a co-development partner and a peer to Brownfields. Both develop large mixed-use urban projects, with VINCI Immobilier operating at much greater scale and broader mandate, but converging on Brownfields' office-to-residential and brownfield themes.
• Linkcity (Bouygues Construction): Bouygues' urban real estate development arm, co-development partner with Brownfields on Cergy-Pontoise and Paris 18e projects. Operates in the same urban regeneration and brownfield space, with greater resources but a less exclusively brownfield-focused model.

Regional players

• Société d'Équipement de la Région Montpelliéraine (SERM): Public urban-development operator (aménageur) working on ZAC and brownfield reconversion in the Montpellier metropolitan area. A regional/structural peer to Brownfields' local public-sector development work (e.g., Poissy with Citallios), but public-sector owned.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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 Brownfields