IKORY

What IKORY does

IKORY is a Paris-based, independent real estate services firm founded in 2015 by Stéphane Imowicz, specializing exclusively in French residential real estate across the full asset lifecycle. The company operates through four dedicated divisions: IKORY Consulting (strategic advisory), IKORY Capital Markets (block and portfolio arbitrage of residential buildings), IKORY Properties (unit-by-unit and batch commercialization of new, existing, and occupied residential assets), and IKORY Project Services (AMO, MOD, and sustainability transition advisory for development and restructuring projects). Each division operates through a dedicated structure to maintain ethical and deontological independence.

The firm's customer base consists of institutional investors, developers, investment funds, real estate companies (foncières), and family offices, with 250 institutional clients served since inception. IKORY has arranged €1.3 billion in block transactions across 96 buildings (253,000 m²) and sold 25,000 apartments individually, including 300 units in 2025. The company also has 105 AMO missions completed and 450,000 m² of projects currently under management, with projected fees of €6 million for 2026.

IKORY's business model is enterprise B2B, monetized through transaction fees on block deals, professional services fees for consulting and project management, and commissions on unit-level property commercialization. Pricing is project-specific and negotiated, with multi-year contracts for institutional clients. The firm is privately held, founder-owned, and self-funded, employing 30 people at its Paris headquarters. Distribution is primarily direct enterprise sales, supplemented by a partner network for the Properties division and thought leadership channels including the Vivere think tank, Notes de Conjoncture market reports, and presence at MIPIM and other industry events.

Name

IKORY

Legal name

SAS Ikory Services Immobiliers

Website

https://ikory.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

IKORY is a Paris-based, independent French residential real estate services firm founded in 2015, serving institutional investors, developers, funds, and family offices through four divisions covering consulting, block transactions, unit-level sales, and project management.

Ownership category

akta.pro rank

Product category

Residential Real Estate Services

NAICS

Offices of Real Estate Agents and Brokers (5312), Other Activities Related to Real Estate (531390)

SIC

Real Estate Agents & Managers (For Others) (6531), Investment Advice (6282)

akta.pro primary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

akta.pro secondary industries

Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE), Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC), Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF)

Keywords

• Residential real estate services
• Real estate consulting
• Block transaction advisory
• Property commercialization
• Project management services

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Transaction fees (Capital Markets): Fees earned from arbitrating residential buildings in block or portfolio transactions. Transaction volume of 1.3 billion euros in block transactions with 96 buildings and 253,000 m² sold in block.
2. Professional services (Consulting & Project Services): Fees from strategic consulting, AMO (Assistance à Maîtrise d'Ouvrage), MOD (Maîtrise d'Ouvrage Déléguée), and project management services. 105 AMO missions completed and projected fees of 6 million euros for 2026.
3. Property commercialization (Properties): Marketing and sales commissions from selling residential units individually or in batches. 2,000 addresses marketed, 25,000 apartments sold historically, 300 apartments sold in 2025.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

IKORY provides integrated residential real estate services across the entire value chain through four operating divisions: IKORY Consulting (strategic real estate advisory), IKORY Capital Markets (block and portfolio arbitrage of residential buildings), IKORY Properties (unit-by-unit and batch commercialization of new, existing, and occupied residential assets), and IKORY Project Services (AMO, MOD, due diligence, and sustainable building transition advisory). The firm serves institutional investors, developers, investment funds, foncières, and family offices, exercising each métier through dedicated independent structures for ethical and deontological separation.

Product overview

IKORY is a residential real estate services company organized into four distinct divisions: IKORY Consulting provides strategic advisory services, IKORY Capital Markets handles block and portfolio transactions, IKORY Properties manages residential asset commercialization through unit sales and various schemes including VEFA and social housing, and IKORY Project Services delivers project management, AMO/MOD, and sustainability transition support. The company operates as an integrated platform serving institutional investors, developers, and private clients across the entire residential real estate value chain.

Differentiator

Problem solved

Functional benefit

Brands

• IKORY Consulting: Strategic real estate consulting for professionals and owners
• IKORY Capital Markets
• IKORY Properties
• IKORY Project Services

Products and services

• IKORY Consulting
• IKORY Capital Markets Block and portfolio arbitrage services for residential buildings, facilitating transactions of multiple properties to institutional and private investors. Includes offer structuring, pricing strategy, and commercial management across occupied, vacant, and forward-sale (VEFA) assets.
• IKORY Properties Marketing of residential assets including new, existing, and occupied properties through unit-by-unit and batch sales, with expertise in regulatory processes and tax-efficient investment schemes such as VEFA, PSLA, and BRS. Targets developers, institutional owners, and individual buyers.
• IKORY Project Services Project management and advisory services including acquisition advisory, due diligence, real estate programming, AMO (Assistance à Maîtrise d'Ouvrage), MOD (Maîtrise d'Ouvrage Déléguée), and sustainability transition for development and restructuring projects, currently managing 450,000 m² of projects.

Quantifiable outcome

• 1.3 billion euros in block transactions completed
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Blossom Asset ManagementcoreStrategic or Co-development Partner · 27 February 2026IKORY accompanies Blossom Asset Management in the marketing of several addresses from the NEXUS residential portfolio. This mission involves lot-by-lot commercialization of various operations located in dynamic residential markets, with a strategy adapted to local specificities and targeted buyer profiles. Assets are located in Divonne-les-Bains, Créteil, Tourcoing, Verneuil-sur-Seine, Vernouillet, Saint-André-lez-Lille, Gretz-Armainvilliers, and Huningue.
• Tikehau CapitalcoreStrategic or Co-development Partner · 27 February 2026IKORY accompanies Tikehau Capital in the marketing of several addresses from the NEXUS residential portfolio. The operation leverages IKORY's expertise in offer structuring, pricing strategy, and commercial management to optimize asset valuation and transaction performance.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BNP Paribas Real Estate: Major French real estate services arm of BNP Paribas providing investment advisory, capital markets, and project management. Competes with IKORY on institutional residential mandates, with deeper balance sheet and cross-border reach.
• Knight Frank France: Global real estate consultancy with French residential and investment advisory operations. Competes for institutional block mandates and development advisory work overlapping with IKORY's service lines.
• CBRE France: Largest global real estate services firm with established French residential investment advisory and capital markets team. Competes for tier-1 institutional mandates; significantly larger scale than IKORY.
• JLL France: Global real estate services firm with extensive French residential capital markets and investment advisory capabilities. Competes for the largest institutional mandates but lacks IKORY's residential-only focus and independent positioning.
• Colliers France: Global real estate services firm with French project management and capital markets capabilities. Overlaps with IKORY on AMO/MOD and investment advisory mandates; IKORY's Project Services Director Jean-Baptiste Le Gal was previously at Colliers.
• Cushman & Wakefield France: Global commercial real estate services firm with French capital markets and residential investment advisory. Competes with IKORY on institutional block mandates but operates a much broader diversified portfolio.

Direct peers

• Barnes Immeubles: French residential block and portfolio real estate brokerage. Direct competitor in the institutional block transaction space; Marie-Noëlle Sixtre led Barnes Immeubles before joining IKORY Capital Markets.
• Ad Valorem: French real estate services firm historically focused on expertise, block/lot arbitrage, and rental management. Direct predecessor firm founded by IKORY's CEO Stéphane Imowicz in 1996, offering overlapping capabilities in residential advisory and transaction services.
• Catella Residential Partners: European residential real estate investment advisor with French operations. Most directly comparable peer given overlapping residential capital markets, investment advisory, and asset management services; Marie-Noëlle Sixtre, now IKORY's Capital Markets Director, was previously at Catella.

Emerging players

• Crédit Foncier Immobilier: Historical predecessor entity where IKORY's CEO and Deputy CEO served (2010-2014). Provides comparable residential advisory, capital markets, and asset management services in France, serving as a relevant historical benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/IKORY_
• Facebookfacebook.com/ikoryparis
• LinkedInlinkedin.com/company/ikory

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 IKORY