The sale of Via Monte Napoleone 8 marks the largest-ever single asset real estate sale by Blackstone in Europe.

The management of the hotel and the branded residences will be assigned to an internationally renowned management company.

Prices remain at levels that many buyers find difficult to finance, especially with the benchmark lending rate at a 16-year high.

The solution to the housing problem is to transform the unused and abandoned State properties with a set of apartments, commented Mr.Stasinos

The rooms from 25 to 115 sqm, with a total area of 207 sq.m., can accommodate meetings of up to 105 people.

Union Investment was advised on the transaction by JLL and Linklaters Stockholm.

The new modern warehouses with a total area of 25,000 sqm can accommodate over 30,000 unique product codes.

A study by IOBE presented jointly with TMEDE estimates that more than €52 billion will "fall" on the market in the next three years.