CEO Bruno Ettenauer and CFO Wolfhard Fromwald told a newsconference that the issuance of a convertible bond last year raisednearly $366 million in fresh capital to bring total liquidity onbalance sheet to some $677 million. This compares with its $5billion portfolio, including its German Vivico unit acquired twoyears ago, and concentrated on Germany, Austria and central andeastern Europe.

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"We are actively looking for opportunities in the market,concentrating on our day-to-day business where we find competencethat we can use and integrate," Ettenauer said. "This would befirms in the main, not individual projects."

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Fromwald said CA stock, trading on the exchange at less thanhalf its net asset value of nearly $24.38 per share, has beenaffected by turbulence in Austrian listed real estate in general,which has left Vienna property firms with a poor reputation. Inaddition, CA's developments, worth about $1.3 billion, areinadequately rated by investors. Its stock was last trading at justmore than $9.48 per share. The group also said it will use itsproject pipeline to build assets.

AllanSaundersonis a managing editor of Property FinanceEurope and a contributor to GlobeSt.com.

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