Nordic Land plc (the 'Company') was incorporated on 3 April 2007 to invest principally in retail property in the Nordic Region.
In April 2007 the Company raised £13.4 million of initial capital through a private placement. £10.6 million of the proceeds of this fundraising were utilised in acquiring the initial portfolio, comprising two properties in Helsingborg and Borlänge in Sweden.
In June 2007 the Company entered into conditional agreements to acquire a large retail property in Stockholm. In August 2007 the Company completed an Initial Public offering on AIM and acquired the retail property in Stockholm.
Lathe Investments (Nordic) LLP which, with its predecessor companies (together, 'Lathe'), has over 10 years of experience of providing property fund management and asset management services in the UK and Europe, is the Company's Manager. Lathe has previously created, invested in and managed six closed-end specialist retail property funds in the UK and Spain.
Lathe has developed strong market contacts in the Nordic region for both the generation of investment acquisition opportunities and the implementation of its asset management and development initiatives to add value.