Loans in focus: Aareal issues €406m loan for European hotels, Grainger receives £540m refinancing, Värde issues €275m in Germany

Aareal Bank provides a €406m loan to Pandox secured by a 13‑hotel portfolio across Europe; AIB, Barclays, HSBC and NatWest issue a £540m refinancing loan to Grainger; Värde Partners provides €275m of debt for a German logistics asset; the latest additions to the Real Estate Capital Europe lending database; and more in our round‑up of European loan deals from the past week.