History about Linstow

Nydalen

The company, as it stands today is the result of a merger between Linstow Eiendom AS and Nydalens Compagnie ASA.

Nydalens Compagnie was originally a Norwegian textile manufacturing company that was founded in 1845. The actual name was adopted in 1867 when the company was converted into a limited company. In 1879, the company had 1,000 employees, including 700 women. In 1895 and until World War II Nydalens Compagnie was Norway's largest textile factory. When the textile business was discontinued in 1963 Nydalens Compagnie became a pure property company.

The foundations

Linstow was established in 1990 as a result of Sparebanken Nor’s decision to manage the real estate exposures they had overtaken in the wake of the numerous bankruptcies and loan defaults that characterized the late eighties and early nineties.

1993 was a turning point for Linstow. Sparebanken Nor decided to exploit the then market conditions and expertise that was built up in Linstow by investing in real estate as a strategic business area. Through strategic acquisitions, the portfolio was upgraded with several attractive properties, so that the company now appeared as i solid player with a balanced property portfolio. The largest project at this time was Ibsenkvartalet wich was purchased from Kreditkassen. The company also held extensive administrative duties for the Bank, and appeared as significant real estate player in the Norwegian market. The company's portfolio, combined with a solid capital and skills base as well as a long-term strategy, formed a favorable platform for Linstow’s further development.

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Origo

Investmen in the Baltics

Linstow started its expansion into the Baltics in 1997 with the acquisition and development of Hotel Latvija in Riga and Hotel Lietuva in Vilnius, both former Soviet Intourist hotels. Linstow entered the shopping/retail segment in the Baltics through a partnership with SIA Varner Hakon Invest. Together the companies purchased and developed shopping centers in key areas in and around Riga in 1997. Linstow's share in the partnership was 50%. The first shopping/retail property this partnership bought had a mix of local and Norwegian stores. After the success of the first investment the joint-venture bought up several centrally located centers in the coming years. In 2004 SIA Varner Hakon Invest drew out of the Baltics, Linstow acquired all of its shares and established its own shopping center organization with offices in Riga, Linstow Center Management SIA. Today LCM owns three shopping centers, two in the center of Riga and one in Tallinn, all managed by LCM. In addition, LCM manages three additional shopping centers in Riga which were previously purchased and developed by Linstow, but later sold out of the company.

Just a few years after Linstow’s expansion into the Baltic in 1997, Linstow established itself as a major player in hotels and shopping segment in the three Baltic States. Today the Linstow is one of the leading real estate players in the region, where the company still has large parts of its assets.

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Name and weight

In 1998 Linstow ASA merged with Aker Brygge I ASA, and thus became one of the major owners of Oslo's most prolific area - Aker Brygge. The properties here were renovated and expanded before they were sold to the newly established real estate company; Norwegian Property, in 2006.

Awilhelmsen became a shareholder of Nydalens Compagnie through the acquisition of Investa in 1993, and in February 1998 the merger between Linstow ASA and Nydalens Compagnie ASA was completed. After the merger Linstow Eiendom ASA was Norway's second largest listed property company. In July 1999, the company was delisted, and has since been a wholly owned subsidiary of the Awilhelmsen Group.

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