Bluestone Group

What Bluestone Group does

Bluestone Group is a privately held French real estate development and renovation firm founded in 1996 (originally as Lab-International) by Patrick Bels, who continues to serve as President. The company is registered as SAS BlueStoneGroup in Paris (RCS Paris 39493676900048) with an operational headquarters at 18 rue Marbeuf in the 8th arrondissement. Over more than 30 years, Bluestone has renovated over 100 properties and built a portfolio spanning six French regions — Île-de-France, Auvergne-Rhône-Alpes, Provence-Alpes-Côte d'Azur, Grand Est, Centre-Val de Loire, and Hauts-de-France — organized through 12 wholly-owned subsidiary entities (SNC, SCI, SARL, and SAS vehicles) that isolate specific assets and functions.

The portfolio is diversified across six core property segments: Bureaux (offices), Habitations (luxury residential), Commerces (retail spaces), Résidences Étudiantes (student housing), Hôtels (hotel conversions), and Résidences Hôtelières (luxury seasonal rentals). Marquee assets include 66 Champs-Elysées, Le Palacio on Place de la Madeleine, the Chambiges Haussmannian buildings in Paris, Chalet Mageva and Résidence Windsor in Megève, and Villa Blu in Saint-Tropez. Tenants of commercial properties include large enterprises such as EDF-Enedis, Orange, Décathlon, Fiat, Egyptair, Medasys, and a future hotel operation with Citizen M.

The business model combines one-time property development and sale with recurring rental income from commercial and luxury vacation properties. Distribution is executed through partnerships with leading French luxury real estate agencies — Barnes, Sotheby's Realty, John Taylor, Daniel Féau, Emile Garcin, Michael Zingraf, Le Collectionnist, and Junot — supplemented by direct sales via the company website. Financing is supported by relationships with BNP Paribas, Crédit Agricole, Société Générale, HSBC France, Natixis, and other major banking partners. Strategic co-development is conducted with Nacarat (student housing) and Sofinim (villa development at Giens).

Name

Bluestone Group

Legal name

SAS BlueStoneGroup

Website

https://bluestone-group.fr

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1–10 employees

Short description

Bluestone Group is a privately held French real estate developer and renovator, founded in 1996, that acquires, renovates, and operates prestige properties — offices, luxury residences, retail, hotels, and student housing — across six French regions through 12 subsidiaries and partners with leading French luxury real estate agencies for distribution.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Other Real Estate Property (53119), Nonresidential Property Managers (531312), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

Luxury & High-End Residential Brokerage (BPAJAAAC)

akta.pro secondary industry

Property-level Contracting (Local/Market Agreements) (THACAGAF)

Keywords

• Real estate development
• Property renovation
• Luxury real estate
• Commercial properties
• Residential properties

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Property Development and Sales: Bluestone Group develops and sells prestige real estate properties including residential apartments, chalets, office buildings, and commercial spaces. The company acquires character properties, renovates them, and sells them at premium prices.
2. Property Rental and Leasing: The company generates rental income from commercial properties including office spaces, retail spaces, and warehouses that are leased to tenants.
3. Seasonal Rental Operations: Bluestone Group operates luxury vacation rentals including villas in Saint-Tropez and chalets in Megève, generating seasonal rental income through hotel residences and luxury properties.

Distribution channels2 records

Marketing channels1 record

Core offering

Bluestone Group acquires, renovates, develops, and sells or leases prestige real estate properties across France through six product categories: offices, residential, retail/commercial spaces, student housing, hotels, and seasonal hotel residences. The company targets character properties with architectural significance, including Haussmannian buildings in Paris, alpine chalets in Megève, and luxury villas in Saint-Tropez, modernizing them while preserving original design integrity. Operations are conducted through 12 wholly-owned subsidiary entities managing specific property types and geographic regions, generating revenue from property sales, commercial leasing, and luxury vacation rentals.

Product overview

Bluestone Group is a French real estate development and renovation company founded in 1996 (formerly Lab-International), operating as a diversified property portfolio across six core product lines: Bureaux (office spaces), Habitations (residential properties), Commerces (commercial spaces), Résidences Étudiantes (student housing), Hôtels (hotels), and Résidences Hôtelières (hotel residences). The company manages its operations through 12 subsidiary entities (SNC Blue, SNC Azzura, SNC Cry Arbois, SNC Windsor, SNC Madeleine Tronchet, SARL Foncière la Badine, SAS Foncière Topazze, SNC Foncière Chambiges, SNC Foncière Bellevue, SCI 5 Chambiges, and SNC Garance Vedene) which specialize in different property types and geographic regions. The portfolio spans luxury properties in prestigious locations (Megève, Saint-Tropez, Paris 8th arrondissement) to commercial and mixed-use developments across France, with over 100 properties renovated over 30+ years of expertise under president Patrick Bels.

Differentiator

Problem solved

Functional benefit

Products and services

• Bureaux (Office Spaces)
• Habitations (Residential Properties)
• Commerces (Commercial Spaces)
• Résidences Étudiantes (Student Housing)

Named customers7 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

Partnerships

15 partnerships are on record, tiered core.

• Barnes InternationalcoreChannel Partner/ Reseller/ DistributorPremier luxury real estate agency partner for high-end property sales including Chalet Mageva and Residence Windsor in Megève
• Sotheby's RealtycoreChannel Partner/ Reseller/ DistributorGlobal luxury real estate brand partner for prestige property sales
• John TaylorcoreChannel Partner/ Reseller/ DistributorLuxury real estate agency specializing in Riviera and Alpine properties including Chalet Indigo and Villa Bellevue
• Emile Garcin CimalpescoreChannel Partner/ Reseller/ DistributorLuxury property agency for Chalet Indigo rentals in Megève
• Daniel FéaucoreChannel Partner/ Reseller/ DistributorPrestige Paris real estate agency partner
• Le CollectionnistcoreChannel Partner/ Reseller/ DistributorLuxury villa rental platform partner for Villa Blu and Chalet Indigo
• JunotcoreChannel Partner/ Reseller/ DistributorBoutique real estate agency for Villa Bellevue marketing
• Michael Zingraf Real EstatecoreChannel Partner/ Reseller/ DistributorFrench Riviera luxury real estate partner for Villa Bellevue
• Bo HousecoreChannel Partner/ Reseller/ DistributorBoutique luxury real estate agency for Villa Blu marketing
• Charming HousescoreChannel Partner/ Reseller/ DistributorLuxury rental collection partner for Villa Blu
• Barnes VallatcoreChannel Partner/ Reseller/ DistributorMegève area luxury real estate partner for Chalet Mageva
• Agence des ParcscoreChannel Partner/ Reseller/ DistributorReal estate agency partner for Villa Blu marketing
• NacaratcoreStrategic or Co-development PartnerReal estate developer partner for the 4-6 Courcelles student residence project in Reims
• SofinimcoreStrategic or Co-development PartnerJoint venture partner for Parc de la Badine luxury villa development on Giens peninsula
• Citizen M HotelscoreStrategic or Co-development PartnerLuxury hotel brand operator for 128 Rue la Boétie hotel conversion project in Paris

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Altarea: French mixed real estate developer covering retail, residential, office, and logistics. Comparable to Bluestone in operating across diversified property verticals in France, but at significantly larger institutional scale.
• Icade: French real estate company with significant office, residential, and healthcare property holdings. Comparable in French commercial and residential property operations, with comparable institutional scale.
• Nexity: France's largest residential real estate developer, operating across housing, offices, and serviced properties. Comparable to Bluestone in French market focus and multi-segment property activity, but at much larger scale and broader portfolio scope.
• Gecina: Paris-focused REIT specializing in prime central Paris residential and office properties. Directly comparable to Bluestone's Paris 8th arrondissement and Champs-Élysées concentration, though as a public institutionally-held REIT rather than a privately-held developer.
• Covivio: European real estate operator with prime Paris office and residential exposure. Comparable to Bluestone in Paris prime office and residential holdings, but as a publicly-listed European operator with broader geographic reach.
• Vinci Immobilier: Real estate development arm of the Vinci construction group, operating across residential, commercial, and serviced housing in France. Comparable in multi-segment French property development, but with construction group backing.
• Kaufman & Broad: Major French residential real estate developer with nationwide footprint. Comparable to Bluestone in French residential development, though focused on volume new-build rather than heritage renovation.

Direct peers

• Emerige: Boutique French real estate developer focused on luxury and distinctive residential projects in Paris. Most directly comparable peer to Bluestone given shared focus on character properties, Parisian prestige locations, and multi-subsidiary development structure.
• Compagnie de Phalsbourg: Boutique French developer known for distinctive mixed-use and hospitality projects. Comparable to Bluestone in selective, design-driven project approach and family-controlled scale.
• Nacarat: French real estate developer focused on student housing, residential, and commercial projects. Directly comparable as an existing strategic partner of Bluestone (joint venture on 4-6 Courcelles Reims student residence) with overlapping French regional activity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/group-bluestone

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries11 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 Bluestone Group