Wiesbaden, 12 May 2026 – Aareal Bank AG has successfully arranged a €405.57 million financing for a portfolio of 13 hotel properties owned by Pandox AB, one of Europe’s leading hotel property companies.
The portfolio comprises 3,458 rooms across eight major European cities: Amsterdam, Vienna, Brussels, Munich, Hamburg, Frankfurt, Cologne, and Salzburg, underlining the strong positioning in key European urban markets.
The loan is partially “Green”, as multiple assets benefit from BREAM “Very Good” or “Excellent” ratings. The majority of the hotels are operated under long-term lease agreements with established operators, including NH Hotel Group, NUMA and Radisson Hotel Group. Pandox owns, develops, and leases hotel properties across approximately 90 cities in 11 countries, with a total portfolio market value of approximately SEK 93bn (EUR 8.6b).
“This financing highlights our long-standing commitment to Europe’s prime hospitality markets and to partnering with owners who actively create long-term value,” said Michelle Weiss, Head of Hotel Properties at Aareal Bank. “Pandox’s disciplined asset management approach and strong operating platform form a very robust foundation for sustainable portfolio growth.”
Joakim Andersson, SVP Treasury at Pandox AB, added: “We value our continued partnership with Aareal Bank, whose deep understanding of the European hotel sector and long-term approach make them a trusted financing partner. This financing supports our strategy of active asset management and portfolio optimization by enhancing the quality and sustainability of our portfolio.”
The transaction closed on 31 March 2026. Aareal Bank acted as arranger, facility agent, and security agent. Legal advice was provided by DLA, and CBRE acted as valuation advisor for this transaction.
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