Etic

Etic, operating under the legal name ETIC – Foncièrement Responsable, is a real estate company focused on social and environmental impact. Founded in 2010 by Cécile Galoselva, the firm addresses the challenge of real estate speculation by providing affordable workspaces for organizations dedicated to societal change. Galoselva's journey into social business began after completing an MBA at the University of Oxford, which followed a career in the private sector in Germany and the US. This quest for meaningful work led her to join Ethical Property in the UK as COO in 2004, where she helped grow the startup into a leading social enterprise, before returning to France to establish Etic.

The company's core business involves acquiring, renovating, and managing buildings to high environmental standards, transforming them into shared work hubs. Etic operates as a 'foncière solidaire' (solidarity real estate company), a model where it owns and manages a property portfolio to generate social, environmental, and financial returns. Revenue is generated through the rental of offices, co-working spaces, and commercial units at moderate rates to its tenants. This model is designed to be financially sustainable while ensuring accessibility for non-profits, associations, and social enterprises that might otherwise be priced out of desirable urban locations.

Etic's properties are more than just office buildings; they are curated ecosystems designed to foster collaboration and synergy among tenants. The company offers a comprehensive service that includes the initial project development, property management, and community animation within its spaces. To finance its acquisitions and renovations, Etic raises funds from solidarity-driven investors, including citizens and institutions like Caisse des Dépôts, who are seeking a balanced return. This financial structure, which includes creating specific legal entities like SCIs (Société Civile Immobilière) for each project, allows for co-investment and aligns with its mission of creating long-term value for both tenants and the community.

Keywords: social impact real estate, solidarity real estate company, eco-responsible workspaces, third places, community work hubs, sustainable property development, social enterprise, impact investing, Cécile Galoselva, shared office space, collaborative ecosystems, affordable commercial property, ethical property management, green building renovation, social business, finance solidaire, immobilier durable, tiers-lieux, entrepreneuriat social, foncière solidaire