Corestate Capital Holding S.A.
Corestate Capital Holding S.A. is a Luxembourg société anonyme (public limited company) registered with the Registre de Commerce et des Sociétés (RCS) under number B199780, with its registered office at 4, rue Jean Monnet, L-2180 Luxembourg. The company remains on file in active status, and its shares (ISIN LU1296758029, WKN A141J3) continue to trade on the General Standard segment of the Frankfurt Stock Exchange under the ticker CCAP, as confirmed by the company’s own November 2025 investor announcement.
Corestate Capital Holding S.A. is the holding company of the CORESTATE real estate investment and asset-management group, whose businesses include Hannover Leasing and which manages real estate funds, co-investments and club-deal structures for institutional clients across European markets, with a focus on residential and commercial property.
Between 2022 and 2023 the group experienced severe financial distress. In November 2022 its Management Board stated that it no longer believed an out-of-court restructuring was more likely than not to succeed and reviewed a possible obligation to file for insolvency. Rather than filing for insolvency, CORESTATE completed a financial restructuring in 2023: noteholders approved cutting bond volume from approximately €488.3 million to about €105.5 million (June 2023), overall reported bond liabilities fell from roughly €535 million to about €143 million, and share capital was increased from around 34 million to around 166 million shares (14 July 2023), substantially diluting shareholders who held stock before the restructuring.
The restructuring has continued since. In November 2025, Corestate reached a lock-up agreement with holders of more than 75% of its remaining Senior Notes (approximately €105.5 million) to extend their maturity by two years to 31 December 2028, with stepped interest rates rising to 12% from 2027 and 15% from 2028. As part of an ongoing deleveraging programme, the group sold its French subsidiary STAM Europe SAS and disposed of an approximately 35% stake in a Royal Liver Building investment vehicle in Liverpool during 2025.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
Corestate Capital Holding S.A. is a Luxembourg société anonyme whose shares trade on the Frankfurt Stock Exchange, so major shareholdings are disclosed through statutory voting-rights notifications under EU Transparency Directive / German WpHG rules rather than through a complete public shareholder register. The company’s own investor-relations pages maintain a dedicated “voting rights notifications” section for this purpose. The company’s 2023 financial restructuring materially changed its shareholder base: share capital was increased from approximately 34 million to approximately 166 million shares (completed 14 July 2023), which substantially diluted holders who owned stock before the restructuring, with new shares allotted in connection with the recapitalisation.
Ultimate beneficial ownership
No verified ultimate beneficial owner could be identified from the primary sources reviewed. Given the scale of dilution and reallocation of shares during the 2023 restructuring, any pre-restructuring beneficial-ownership information would very likely be outdated and is not repeated here.
Data availability
Availability is best described as partial: Luxembourg and EU transparency rules require disclosure of major shareholdings once statutory thresholds are crossed, and the company itself publishes voting-rights notifications, but this review could not independently confirm the specific individuals or entities holding disclosable stakes as of the current date, or their exact percentages, from a primary source within the time available. This should not be read as evidence that no major shareholders exist or are currently disclosed.
Sources
- CORESTATE Capital Holding S.A., “Corestate Capital Holding S.A.: Execution of Lock-up Agreement with Group of Noteholders”, company announcement, 26 November 2025 — corestate-capital.com, retrieved 11 September 2026.
- CORESTATE Capital Holding S.A., Disclosures / Investor Relations — corestate-capital.com, retrieved 11 September 2026.
Officers
12
Per the company’s own disclosures, the Management Board of Corestate Capital Holding S.A. currently comprises one member, Dr. Nedim Cen, appointed Chief Executive Officer effective 3 May 2023 and additionally responsible for finance as Chief Financial Officer since 1 June 2023; he previously chaired the Supervisory Board from 2 December 2022 until his move to the Management Board. The Supervisory Board was reconstituted on 17 December 2024 as part of a strategic realignment and is chaired by Dr. Sven-Marian Berneburg (a Supervisory Board member since 2 December 2022), with Andreas Paul Uelhoff as Deputy Chairman and Wolfgang Bauer as a member, the latter two appointed in December 2024. Nationality is not disclosed for any of these individuals in the sources reviewed; the company’s own board biographies state each Supervisory Board member’s city of residence (Düsseldorf, Hamburg and Königstein respectively), but residence is not treated as evidence of nationality and none has been inferred.
Recent officer changes
- 17 December 2024 — Supervisory Board reconstituted; Wolfgang Bauer and Andreas Paul Uelhoff appointed as new members as part of a strategic realignment (source: company announcement).
- 1 June 2023 — Dr. Nedim Cen additionally appointed Chief Financial Officer on the Management Board.
- 3 May 2023 — Dr. Nedim Cen appointed Chief Executive Officer on the Management Board, moving from his prior role chairing the Supervisory Board.
Data availability
Luxembourg company law does not require public disclosure of directors’ nationality, and none was found for the current Management or Supervisory Board members in the sources reviewed. Separately, the registry-sourced officer data on file for this profile lists several additional named individuals holding group operating titles (for example, roles described as “Group Head of…” functions); these could not be confirmed as current RCS-registered corporate officers of Corestate Capital Holding S.A. against a primary source and appear to reflect broader group personnel records rather than the statutory Management Board or Supervisory Board, which is why they are not restated as current officers here.
Sources
- CORESTATE Capital Holding S.A., “Management Board & Supervisory Board” — corestate-capital.com, retrieved 11 September 2026.
- CORESTATE Capital Holding S.A., “Corestate Capital: Changes to the Management Board and Supervisory Board”, company announcement, 17 December 2024 — corestate-capital.com, retrieved 11 September 2026.
Registry feed — rows exactly as filed with Luxembourg Business Register (LBR/RCS), including entries the profile above does not cover.
Group Structure
Corestate Capital Holding S.A. is the ultimate parent holding company of the CORESTATE real estate investment and asset-management group. On-file registry-sourced corporate-linkage data (last synced 11 August 2026) shows a structure of Luxembourg intermediate holding companies (including Ginova HoldCo S.à r.l., HARBOUR AcquiCo 1 AIF S.à r.l. and Annapurna AIF S.à r.l.) and a large German sub-group headed by CORESTATE Capital Group GmbH, which includes Hannover Leasing GmbH & Co. KG and its numerous single-purpose real estate vehicles across Germany, plus smaller entities in Belgium, the Netherlands, Spain, Italy, Austria, Switzerland and Poland. As part of an ongoing 2025 deleveraging programme, the group sold its French subsidiary STAM Europe SAS and disposed of an approximately 35% stake in a Royal Liver Building investment vehicle in Liverpool; neither entity appears in the on-file structure, so these two disposals are described here from the company’s own announcements rather than cross-checked against that data.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| CORESTATE Capital Group GmbH | Germany | HRB 107163 | Direct/indirect subsidiary | Ownership percentage not disclosed | On file as active | 11 Aug 2026 (registry sync) |
| Hannover Leasing GmbH & Co. KG | Germany | HRA 70856 | Indirect subsidiary | Ownership percentage not disclosed | On file as active | 11 Aug 2026 (registry sync) |
| Ginova HoldCo S.à r.l. | Luxembourg | B224303 | Direct subsidiary | Ownership percentage not disclosed | On file as active | 11 Aug 2026 (registry sync) |
| STAM Europe SAS | France | Not disclosed | Historical relationship (sold) | Ownership percentage not disclosed | Sold, September 2025 | 24 Sep 2025 (announcement) |
Recent structural changes
- September 2025 — Sale of French subsidiary STAM Europe SAS completed, followed by partial repayment of the group’s Super Senior Note.
- July 2025 — Disposal of an approximately 35% stake in a Royal Liver Building investment vehicle in Liverpool.
Data availability
Group-structure information is partial: the immediate Luxembourg and German sub-structure is corroborated by the on-file registry-sourced corporate-linkage data, but ownership percentages for individual subsidiaries are not disclosed there, and this review did not independently re-verify every entity against its national company registry. Separately, several German-language subsidiary names in the on-file group data contain corrupted text where a Unicode escape sequence appears to have lost its leading backslash — for example “haftungsbeschru00e4nkt” instead of “haftungsbeschränkt”, “Hammerbrookstrau00dfe” instead of “Hammerbrookstraße”, and “Gieu00dfen” instead of “Gießen”. This is a known encoding artefact in the underlying registry feed rather than an error in the entities’ actual legal names, and does not change the relationships summarised above.
Sources
- CORESTATE Capital Holding S.A., “Corestate reaches agreement with Major Noteholders to Extend Senior Notes” and related 2025 press releases — corestate-capital.com, retrieved 11 September 2026.
- Registry-sourced corporate-linkage data on file for this profile, last synced 11 August 2026.
Registry feed — rows exactly as filed with Luxembourg Business Register (LBR/RCS), including entries the profile above does not cover.
Corestate Capital Holding S.A.
Luxembourg
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Frequently Asked Questions
Is Corestate Capital Holding S.A. still an active, registered company?
Yes. As of this research, Corestate Capital Holding S.A. remains on file in active status with the Luxembourg Registre de Commerce et des Sociétés (RCS) under registration number B199780; it has not been dissolved or struck off.
Has Corestate Capital Holding S.A. filed for insolvency?
No formal insolvency filing was found. In November 2022 the Management Board said it no longer believed an out-of-court restructuring was more likely than not to succeed and reviewed a possible obligation to file for insolvency, but the company instead completed a financial restructuring in 2023 that cut its bond debt and recapitalised the business, avoiding a formal insolvency filing.
Is Corestate Capital Holding S.A. still listed on a stock exchange?
Yes. Its shares (ISIN LU1296758029, ticker CCAP, WKN A141J3) continue to trade on the General Standard segment of the Frankfurt Stock Exchange, as confirmed in the company's own November 2025 announcement.
What caused Corestate Capital Holding S.A.'s financial distress?
The company, a real estate investment and asset manager, became heavily burdened by bond debt. In June 2023 noteholders approved a restructuring that cut its bond volume from about €488.3 million to roughly €105.5 million, and its overall reported bond liabilities fell from approximately €535 million to about €143 million.
What happened to existing shareholders during the 2023 restructuring?
Share capital was increased from approximately 34 million to approximately 166 million shares, completed 14 July 2023, which substantially diluted shareholders who held stock before the restructuring, as new shares were issued in connection with the recapitalisation.
What is Corestate Capital Holding S.A.'s registration number and jurisdiction?
It is registered in Luxembourg under RCS number B199780 as a société anonyme (public limited company), with its registered office at 4, rue Jean Monnet, L-2180 Luxembourg.
Who currently sits on Corestate Capital Holding S.A.'s Management Board?
As of the sources reviewed, the Management Board comprises one member, Dr. Nedim Cen, appointed Chief Executive Officer effective 3 May 2023 and also serving as Chief Financial Officer since 1 June 2023.
Who chairs Corestate Capital Holding S.A.'s Supervisory Board?
Dr. Sven-Marian Berneburg, a member since 2 December 2022, chairs the Supervisory Board. Andreas Paul Uelhoff serves as Deputy Chairman and Wolfgang Bauer as a member, both added when the Supervisory Board was reconstituted in December 2024.
What debt restructuring has Corestate Capital Holding S.A. undertaken most recently?
In November 2025 the company reached a lock-up agreement with holders of more than 75% of its remaining Senior Notes (approximately €105.5 million) to extend their maturity by two years to 31 December 2028, with interest rates stepping up to 12% from 2027 and 15% from 2028.
Has Corestate Capital Holding S.A. sold any subsidiaries recently?
Yes. In 2025 the group sold its French subsidiary, STAM Europe SAS, and separately disposed of an approximately 35% stake in a Royal Liver Building investment vehicle in Liverpool, both described as part of its deleveraging programme.
What business does Corestate Capital Holding S.A. carry out?
It is the Luxembourg-incorporated holding company of the CORESTATE real estate investment and asset-management group, which includes Hannover Leasing among its operating businesses and manages real estate funds, co-investments and club-deal structures for institutional clients.
Are Corestate Capital Holding S.A.'s current major shareholders publicly known?
The company discloses major shareholdings through statutory voting-rights notifications under Luxembourg and EU transparency rules, but this review could not independently confirm the specific, currently effective major shareholders and their percentages from a primary source, so shareholder disclosure here is treated as partial rather than complete.
Does the on-file corporate-structure data for Corestate Capital Holding S.A. contain any known data-quality issues?
Yes. Several German-language subsidiary names in the on-file group data contain corrupted text where a Unicode escape sequence appears to have lost its leading backslash, for example "haftungsbeschru00e4nkt" instead of "haftungsbeschränkt", a known encoding artefact rather than an error in the entities' actual legal names.
When was Corestate Capital Holding S.A. incorporated?
The on-file registry data shows an incorporation date of 7 September 2015. External registry summaries reference a Luxembourg deed/registration date of 21 August 2015, consistent with the deed being executed shortly before formal RCS registration; this is a minor date discrepancy across sources rather than a clear factual error.