Blackstone took advantage of bargains from market turmoil and distressed sellers as it snapped up more real estate in Europe than in any other region in 2023. Skyrocketing interest rates caused deals to collapse in a sector that relies on cheap debt, creating investment opportunities for well-capitalized companies like Blackstone. With rates hovering around 6%, some property owners want to get rid of their assets. “The borrowing cost to own real estate was next to nothing, and now it’s closer to 6%,” Blackstone FounderSteve Schwarzman told Bloomberg in November. “So if you have to carry a whol…