What Bleecker does

Bleecker SA is a French publicly listed real estate investment company (SIIC) on Euronext Paris (Compartment C, ticker BLEE) that acquires and holds commercial real estate, primarily office buildings and business parks in Paris and Île-de-France. Founded in 2006 from the merger of Foncière Saint Honoré and Compagnie Française des Établissements Gaillard, and listed in 2007, the company operates a portfolio of 12 buildings totaling 31,661 m² with an asset value of €586.5M as of August 2025. Asset mix is concentrated in offices (78.9% of rental value), with retail (18.4%) and residential (2.7%) as secondary uses, and geographic exposure is 98% Île-de-France and 2% French regions.

The company's core differentiator is environmental certification: ~82% of building surfaces (~23,000 m²) carry BREEAM certification, supplemented by Biodivercity Life (biodiversity, 2,300 m² at the ILO building), WiredScore (digital connectivity), and Effinergie Rénov 2024 (energy renovation) certifications. Documented sustainability outcomes include a 23% reduction in greenhouse gas emissions since 2019, 9% lower energy consumption, 12% lower water consumption per occupant, and 15% higher construction-waste recycling. The portfolio is operated through outsourced asset and rental management supported by external consulting firms, architects, technical advisors, and financial experts, rather than via proprietary technology.

Bleecker generates revenue through rental income on its directly held commercial properties, with pricing negotiated bilaterally with each tenant and not publicly disclosed. Distribution is direct-to-tenant leasing, with no app, no platform, and no API or SDK offerings. Capital structure consists of 1,126,686 shares at €18.45 (€20.8M share capital). Governance follows the French dual-board model (Directoire and Conseil de Surveillance) with Muriel Marcilhacy-Giraud as President of the Management Board, Philippe Bucheton as General Manager, and Sophie Rio-Chevalier as Chair of the Supervisory Board.

Name

Bleecker

Legal name

BLEECKER SA

Website

https://bleecker.fr

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Bleecker is a French publicly listed SIIC (Euronext Paris, ticker BLEE) that acquires and holds commercial real estate—primarily offices and business parks in Paris and Île-de-France—differentiated by BREEAM, Biodivercity Life, WiredScore, and Effinergie Rénov environmental certifications across a €586.5M portfolio.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure

Revenue model

1. Commercial Real Estate Rental Income: Bleecker generates revenue through acquiring and holding commercial real estate properties, primarily office buildings and business parks. The company leases these properties to businesses and tenants, generating recurring rental income. As a SIIC (Société d'Investissement Immobilier Cotée), the company benefits from specific tax advantages for investors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Bleecker is a French listed real estate investment company (SIIC) that owns and leases a portfolio of commercial real estate assets. The company holds 12 buildings totaling 31,661 m² and valued at €586,476,600, with the mix dominated by offices (78.9%) alongside retail shops (18.4%) and a small residential share (2.7%), primarily located in Paris and the Île-de-France region.

Product overview

Bleecker is a committed and innovative French real estate company (SIIC - Société d'Investissement Immobilière Cotée) that operates primarily as a commercial real estate owner and investor. The company's core product offering consists of office buildings (representing approximately 78.9% of rental value) and commercial/retail spaces (18.4%) concentrated in Paris and Île-de-France. Bleecker differentiates its properties through environmental certifications, including BREEAM-certified buildings (covering 82% of surfaces), Biodivercity Life-certified properties focusing on biodiversity, WiredScore-certified buildings for digital connectivity, and Effinergie Rénov certifications for energy efficiency. The company also offers residential units (2.7% of portfolio) and a small percentage of regional activities. Bleecker's strategy centers on proactive asset management, creating sustainable value through property acquisition, development, and certification.

Differentiator

Problem solved

Functional benefit

Products and services

• Office leasing portfolio

Quantifiable outcome

• 82% of building surfaces certified BREEAM (nearly 23,000 m²)
• +5 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and major.

• Foncière Saint HonorécoreStrategic or Co-development Partner · 1 November 2006Foncière Saint Honoré acquired CFEG (Compagnie Française des Établissements Gaillard) in November 2006, which led to the formation of Bleecker through a merger-absorption in June 2007. This strategic acquisition strengthened Bleecker's position in the real estate market.
• Compagnie Française des Établissements Gaillard (CFEG)coreStrategic or Co-development PartnerCFEG was the entity merged with Foncière Saint Honoré in 2007 to form Bleecker, which was subsequently listed on the stock exchange.
• Consulting FirmsmajorImplementation/ SI/ Consulting PartnerBleecker relies on a network of renowned consulting firms to benefit from necessary expertise and constantly adapt to market developments. This organization allows the company to anticipate trends and continuously improve asset quality.
• ArchitectsmajorImplementation/ SI/ Consulting PartnerPartner architectural firms involved in the restructuring and development of properties to meet environmental standards and market demands.
• Technical AdvisorsmajorImplementation/ SI/ Consulting PartnerTechnical advisors provide expertise for property evaluation, environmental certification processes, and technical due diligence.
• Financial ExpertsmajorImplementation/ SI/ Consulting PartnerFinancial experts support investment decisions, portfolio valuation, and financial reporting for the listed company.

Scale indicators13 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Icade: Large French SIIC with significant office and healthcare portfolios in Paris and major French cities; broader asset base and a much larger market cap than Bleecker, but operates the same SIIC regime and competes for the same Parisian office tenants.
• Klépierre: Large European REIT focused on shopping centres and retail real estate; comparable as a Euro-listed commercial real estate vehicle and potential investor reference, though Bleecker's office-led model is narrower than Klépierre's retail focus.
• Gecina: Major French SIIC with a leading portfolio of Parisian offices and residential real estate; competes in the same prime Paris office submarket as Bleecker but at significantly greater scale and with a more diversified asset mix.
• Covivio: European SIIC-equivalent REIT with significant Paris and European office exposure; broader geographic and asset-class diversification than Bleecker, but directly competes for prime office occupiers and capital.

Direct peers

• Cegereal: French SIIC focused on prime office real estate in the Paris region (Île-de-France), with a similarly small, Paris-centric portfolio and comparable tenant base — the closest direct peer to Bleecker in scale and strategy.
• Affine: French SIIC listed on Euronext holding a diversified portfolio of offices, retail and logistics; comparable in regulatory status (SIIC), asset mix, and small-to-mid cap positioning versus Bleecker.
• Selectirente: Small-cap French SIIC investing in retail and commercial real estate across France; comparable in SIIC status, small free-float, and focus on commercial tenants — though with greater retail weighting than Bleecker.
• Patrimoine et Commerce: French SIIC specialized in retail parks and commercial real estate in mid-sized French cities; comparable in regulatory status and small-cap profile, though Bleecker skews toward Parisian offices.
• Société Foncière Lyonnaise: French SIIC owning high-quality office real estate primarily in Paris; comparable in regulatory status and Paris office concentration, but materially larger in scale and more institutional.

Emerging players

• Frey: French REIT specialising in retail parks and sustainable/open-air commercial developments; comparable in French-listed, commercial real estate focus and ESG orientation, but operates in adjacent retail-park segment rather than urban Paris offices.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bleecker-group

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

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 Bleecker