Blackstone is interested in buying real estate in Europe.

American giant Blackstone already has many properties in Europe and Portugal. And it plans to increase its investment in the near future. Blackstone's CEO, Steve Schwarzman, said the company is interested in buying real estate in Europe and will move in that direction as central banks become less aggressive about raising key interest rates.

More than a year ago, the European Central Bank began the fastest rise in key interest rates. There were ten consecutive interest rate hikes, followed by a pause in October where the interest rate remained at 4.5%. Restrictions on bank financing combined with inflation and uncertainty in the geopolitical environment have led to a slowdown in real estate transactions in Europe.

Schwarzman said that while the last year has been "a bit gloomy," the real estate transaction cycle should start to improve.

It was in this context that Schwarzman announced on Monday, Nov. 27, that Blackstone is interested in several real estate investment opportunities in Europe and intends to begin active purchases as soon as central banks such as the ECB ease their monetary policy. This approach will allow for a resurgence in transaction volume.

The European properties the US giant is eyeing include data centers, warehouses and student housing in various parts of Europe.

Recently, Blackstone showed its confidence in European real estate by moving its new headquarters to London and acquiring Adevinta, which owns OLX and other brands, for 14 billion euros. In Portugal, a US private equity firm is strengthening its position in tourism by acquiring the Cascade Wellness Resort in Lagos for around €50 million.