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Management team

Experienced with extensive track record

The CORESTATE Capital management team has worked together successfully for many years in sourcing, managing, refinancing and selling real estate portfolios. On the one hand, it has a highly developed international private equity and capital markets mindset, whilst on the other hand it possesses in-depth real estate knowledge coupled with the proven ability to access local markets. In the last seven years, the senior team have been responsible for €15bn of real estate transactions in Europe.

Ralph Winter

Founder and Chairman of CORESTATE Capital

Ralph Winter is the founder and chairman of CORESTATE Capital. He is also a board director for the CORESTATE funds. Ralph is actively involved in the strategic direction of the Company as well as deal sourcing and investor relations.

Ralph has 25 years of real estate experience and has raised an aggregate of €1.3 billion of equity capital for real estate investment. Prior to CORESTATE, between 2002 and 2006 Ralph established and headed the real estate team of Cerberus Group based in Frankfurt, where he grew investment volume to more than €5 billion in residential and commercial real estate and non-performing loans. Representative transactions include the landmark joint-acquisition of GSW (€1.7 billion) in Berlin with Whitehall, BauBeCon (€1.1 billion) in Hannover and the Jade Portfolio in Bremen.

Ralph also has extensive contacts throughout German politics and is a member of the advisory committee of the IREBS Immobilienakademie GmbH, Eltville im Rheingau.

Phillip Burns

Chief Executive Officer

Phillip Burns is Chief Executive Officer and Member of the Investment Committee of CORESTATE Capital AG, responsible for leading the Company’s business development and strategy.

Phillip was formerly a Financial Managing Director at Terra Firma Capital Partners, which he joined in 2002. During his time at Terra Firma he was actively involved in several transactions in multiple industry sectors, including waste and infrastructure, real estate, credit and, in particular, German residential real estate, where he was involved in the acquisition of Viterra through the firm’s portfolio company Deutsche Annington GmbH.

Before that, Phillip worked for Goldman Sachs (New York and California) where he focused on mortgage finance, real estate and general corporate finance. He also worked as a corporate attorney for Skadden, Arps, Slate, Meagher & Flom (New York). Phillip holds a BS in Aerospace Engineering from the University of Michigan and a Juris Doctor from Syracuse University.

Thomas Landschreiber

Chief Operating Officer

Thomas Landschreiber is Chief Operating Officer and and Chairman to the Investment Committee of CORESTATE Capital AG.

Thomas has 20 years of real estate experience in closed-ended funds and structuring acquisitions and disposals of commercial and residential assets. Prior to CORESTATE Capital, Thomas worked as Vice President in the real estate team of Cerberus Deutschland Beteiligungsberatung GmbH, where he was responsible for due diligence and advised on acquisitions, asset management and sales issues.

Prior to this, Thomas was Sales Manager for a leading initiator of listed buildings, focussing on structuring disposals of commercial portfolios as well as sales coordination and conceptual design of real estate products. Thomas also worked for nine years for HVB AG dealing with real estate financing of large portfolios

Daniel Schoch

Chief Financial Officer

Daniel Schoch is Chief Financial Officer and Member of the Investment Committee of CORESTATE Capital AG, being responsible for financial planning and reporting, tax and control.

Daniel is responsible for financial planning, reporting, tax and controlling. Until Spring 2008, he was CFO of BauBeCon Group in Hannover, Germany, where he dealt with finance-related topics as well as coordinating the dual track exit strategy for Cerberus.

After the successful sale to Pirelli Re / RREEF, he spearheaded the post-merger activities (organisation, processes and financial) – BauBeCon currently has circa 60,000 residential units under management. Prior to this, he acted as CFO for Carl Zeiss and Carl Zeiss SMT.

Daniel holds a German International Betriebswirt from the Business School ISGM, Bad Waldsee, Germany

Ralf Nöcker

Managing Director

Ralf Nöcker is Managing Director and Member of the Investment Committee of CORESTATE Capital AG and in charge of Corestate’s special situations investment activities.

Ralf has 12 years experience in real estate private equity and principal finance and has a transaction track record of circa €4bn. Before CORESTATE, Ralf was at Shore Capital International, where he was responsible for the investment activity of Puma Brandenburg, an AIM-listed residential property company with €700m of assets under management

Previously, Ralf was Managing Director and Co-Head of Real Estate Principal Investments at Bear Stearns, being responsible for transaction totalling €775m. Ralf was also Vice President and founding member of Normura’s Asset Finance Group and Head of Global Loan Syndication, where he oversaw principal finance transactions worth €4.85bn, all fully realised

Ralf holds a Ph.D. from the University of Cologne and a Masters degree from the London School of Economics

Advisors

Dr. Mark Wössner

Principal Senior Advisor

As Principal Senior Advisor CORESTATE Capital AG, Dr. Mark Wössner will advises CORESTATE particularly in the business areas acquisition and restructuring of non-performing portfolios and loans.

After studying mechanical engineering at the Technical University of Karlsruhe and completing his doctorate at the Technical University of Stuttgart, Wössner started his career at Bertelsmann AG as assistant to the executive management. He was a member of the executive management of the corporate group based in Güterslohe for 22 years, 15 of which as CEO. During that period, he was also chairman of the advisory council of Deutsche Bank and a member of the executive committee of the Federation of German Industries (BDI)

Since leaving Bertelsmann AG, Wössner has served as Chairman of Citigroup Germany and is a supervisory board member at various companies such as Daimler, Douglas and Loewe. In addition, he currently holds the position as Supervisory Board Chairman at Heidelberger Druckmaschinen AG.

At the same time, Wössner is involved in various honorary activities in the social, cultural and academic sectors. He is amongst others Honorary Senator of the University of St. Gallen as well as of the University of Witten/Herdecke and a member of the Board of Trustees of the Technical University of Munich, which appointed him Honorary Professor of Business Management in 2005

Dr. Thomas Borer

Senior Advisor

As Member of the Advisory Board of CORESTATE Capital AG, Dr. Thomas Borer, J.D. will support the company in the area of acquiring and managing institutional investors, particularly in German-speaking regions.

Between 1987 and 2002, Dr. Borer was active in the Swiss Diplomatic Service, most recently as Ambassador to Germany. Since then, he held a variety of European and international consultancy and advisory board mandates as independent entrepreneur, specialising in the representation of strategic corporate interests as well as in the real estate sector.

Non-Executive Directors

David Allison

Non-Executive Director

David was formerly the Managing Director of Rothschild Trust in Guernsey for almost 14 years before resigning in late 2005 to set up Virtus with Roderick Balfour with Nicholas Moss.

He qualified as a Solicitor in 1979 and after working for a London firm joined Rothschild in 1983. He left in 1988 to join Carey Olsen (Guernsey Advocates) and to qualify as an Advocate of the Royal Court of Guernsey. After a short period in private practice he rejoined Rothschild in 1992. During the period at his former employer he was also directly responsible for their Bermuda trust administration office. In addition to his considerable managerial experience of running a large international trust company, he has extensive knowledge of dealing with a varied worldwide personal and corporate client base.

He has established, administered and managed trust and complex corporate structures for such clients and his significant legal knowledge of trust issues has added considerable value to his client relationships. He holds several non-executive Board appointments consisting of a London listed fund and other quoted or private closed ended investment vehicles.

David Copperwaite

Non-Executive Director

David Copperwaite is on the board of directors of a number of investment funds operated by various financial groups including Lloyds TSB Bank, Scottish Widows, AnaCap and Aberdeen Fund Managers, of which a number are listed on stock exchanges in London, Singapore, Dublin, Luxembourg and the Channel Islands.

He is a Guernsey resident who has spent much of his professional career working in the offshore financial services sector. In 1973 he joined Lloyds Bank International Limited and remained with Lloyds until 1997. His roles included the Manager of Lloyds’ operations in the Cayman Islands and subsequently in Guernsey as the Principal Manager (Sterling Europe Region). As Principal Manager his responsibilities entailed all International Private Banking, Fund, Custody and Deposit operations in Guernsey, Jersey, Gibraltar and London. Since leaving Lloyds in 1997 he has been involved as a director of a number of investment funds, both closed and open-ended.

He is a former Chairman or President of The Guernsey International Bankers Association, The Association of Guernsey Banks and The Guernsey Fund Managers Association. He is a member of The Institute of Directors (Guernsey Branch) and The Guernsey Fund Association.

Christopher Hill

Non-Executive Director

Christopher M W Hill, is an Associate of the Chartered Institute of Bankers and a non executive director of a number of financial institutions and investment funds. He is Chairman of UK Commercial Property Trust Limited and Investec Capital Accumulator Trust Limited, both listed in London, in addition to being a non executive director of other investment funds which maintain listings of their shares on the stock exchanges of London, Netherlands, Luxembourg or the Channel Islands.

He was formerly Managing Director of Guernsey International Fund Managers Limited, part of the Barings Financial Services Group, for 8 years prior to its sale to Northern Trust in 2005.

He has more than thirty five years’ experience in the field of Offshore Banking and Fund Administration. Mr Hill is a past Chairman of the Guernsey Investment Funds Association and a resident of Guernsey.

Nicholas Moss

Non-Executive Director

Nicholas Moss is a founding member of Virtus Trust, a Guernsey based international fiduciary, corporate services and investment consulting business.

His specific responsibilities include investment manager selection and the ongoing monitoring of their performance for his client base. Prior to establishing Virtus, Nicholas was a managing director within the Rothschild Trust Group where he spent 16 years structuring and administering on- and offshore trusts for corporates and ultra high net worth families.

He holds several non-executive Board appointments consisting of listed and private real estate funds, as well as other closed ended investment vehicles listed in London and elsewhere. He is also a member of the investment committee of a significant international family group. Nicholas is a Chartered Accountant with a joint honours degree in Law & Economics and is a resident of Guernsey.