Altarea enters exclusive negotiations with Stella Management to divest its Senior Services Residences management division and establish a development partnership

Paris, December 1, 2025 – Altarea, a leading real estate group in France, and Stella Management, a major operator of senior services residences, announce the start of exclusive negotiations aimed at signing a strategic partnership structured around two key components:

· The acquisition by Stella Management of 100% of the companies Nohée, Sopregi, and Sopregim, operating under the brands Nohée and Les Hespérides, representing 60 senior residences either in operation or under development.

· The signing of a development agreement for new residences, which will be identified and developed by Altarea and subsequently operated by Stella Management.

For Stella Management, this strategic partnership enables the acquisition of high-quality residences in prime locations, along with expert teams recognized for achieving some of the highest customer satisfaction levels in the market. Stella will strenghten its position as one of the leading players in France, with a network of 100 residences and consolidated revenue of €140 million.

For Altarea, this transaction aligns with its strategy to sustainably adress the growing needs of seniors and support urban transformation while refocusing on its core business of real estate development. The development plan will include eight residences currently in the process of opening, construction, or development

Edward Arkwright, CEO of Altarea, stated: “Altarea believes in the potential of managed residential solutions, particularly senior residences. Demographic and sociological changes in our country are creating new needs that must be addressed with appropriate solutions and products. By divesting our Senior Services Residences management division to Stella Management, we are choosing to refocus on property development while ensuring that the Nohée and Les Hespérides teams and residences are part of a forward-looking project.”

Thibault Vendioux, CEO of Stella Management, added: “This strategic partnership marks a key milestone in our growth, enabling us to strengthen our presence in high-potential areas with top-quality residences in exceptional locations. Our ambition will be built on the quality of services offered in Nohée and Les Hespérides residences, as well as the expertise and professionalism of the teams. We are committed to honoring the promises made to residents and their families, partners, distributors, investors, and local authorities.”

Jérôme Navarre, Chief Executive Officer of Nohée and Les Hespérides, commented: “We will write a new chapter in our development with an experienced operator who shares our values focused on residents’ well-being and service quality. The complementarity of our expertise will contribute to the emergence of a major new player in the senior market.”