Austrian property company SIGNA Prime Selection AG's total equity has surpassed €4 billion after the company raised €1 billion in shareholder capital.

According to a news release, the company's portfolio includes KaDeWe in Berlin, the Golden Quarter in Vienna, the Park Hyatt Vienna, Oberpollinger in Munich, Kaufhaus Tyrol in Innsbruck, Austria, and Alsterhaus in Hamburg. The company also has properties in Northern Italy.

The owner of Karstadt in Germany, SIGNA Prime Selection's strategy involves a further expansion of its portfolio. SIGNA Holding is the majority shareholder in SIGNA Prime Selection, and with the Benko family private foundation, its founding and main shareholder, jointly own more than 60% of the issued shares, according to the release.

The company is reportedly thinking of making an offer for Hudson's Bay Co.'s German department store chain Kaufhof and is in talks with an investment bank to arrange the financing for the acquisition, Reuters reported Oct. 9.

Canada-based Hudson's Bay outbid SIGNA Prime in 2015 to buy Galeria Holding, the parent of Galeria Kaufhof, and its Belgian subsidiary from Metro AG for about €2.42 billion.

Soon after, the company inked an 80/20 joint venture with Simon Property Group Inc. in which it expected to contribute 40 or more Kaufhof properties.