History L&R in the Nordic & Russian region
- London & Regional, through LR Nordic Properties AB, made the first investment in the Nordic region in June 2002, and set up a branch office in Stockholm shortly thereafter.
- The first transaction in the region was made in Sweden through the acquisition of the ABB portfolio. This deal has been followed by acquisitions of portfolios in Sweden from e.g. ICA Ahold, Vasakronan and Frigoscandia.
- During autumn 2004 London & Regional made its first investment in Finland by acquiring the hotel property company Dividum. Following this, London & Regional has acquired Skandrenting Finland, Nokia Network’s HQ, and Holiday Club from Capman. In relation to this L&R set up a Helsinki branch office.
- With the acquisition of the portfolio from Frigoscandia in December 2004 London & Regional entered also the Danish property market.
- The first investment in the Baltic countries was made summer 2005, when acquiring the Scandic Neringa hotel in Vilnius, Lithuania.
- London & Regional made its first investments in Russia during 2006 when acquiring e.g. the Ducat II office property and Sun Paradise shopping centre in Moscow. L&R has further on made several additional investments and initiated construction projects in several Russian cities, including Moscow, St Petersburg, Novosibirsk, Kaluga and Penza. In relation to this L&R established branch offices in both Moscow and St Petersburg.
- In November 2006, L&R listed the majority of its Nordic property portfolio on AIM, a market of the London Stock Exchange, and the company started trading 15 November 2006 under the name Northern European Properties Ltd. The initial portfolio comprises 84 properties in Sweden, Finland, Denmark and Lithuania with a market value close to €1.9 million.
- In connection with the IPO, Northern European Properties Ltd appointed LR Real Estate Asset Management AB (LR REAM), a company within London & Regional, as the asset manager for the company.