-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 LcrzWXSAHWzyhBXOW1iLyQ==

<SEC-DOCUMENT>0001468406-09-000006.txt : 20090716
<SEC-HEADER>0001468406-09-000006.hdr.sgml : 20090716
<ACCEPTANCE-DATETIME>20090716105422
ACCESSION NUMBER:		0001468406-09-000006
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090716
DATE AS OF CHANGE:		20090716
EFFECTIVENESS DATE:		20090716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Blackstone Real Estate Special Situations Europe.2 L.P.
		CENTRAL INDEX KEY:			0001468407
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-132828
		FILM NUMBER:		09947399

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		212-583-5661

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<edgarSubmission>

    <schemaVersion>X0401</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001468407</cik>
        <entityName>Blackstone Real Estate Special Situations Europe.2 L.P.</entityName>
        <issuerAddress>
            <street1>345 PARK AVENUE</street1>
            <street2></street2>
            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <zipCode>10154</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-583-5661</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>UNITED KINGDOM</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <middleName></middleName>
                <lastName>Blackstone Real Estate Special Situations Associates Europe L.P.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of Issuer (the &quot;GP&quot;)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <middleName></middleName>
                <lastName>Blackstone Real Estate Special Situations Advisors L.L.C.</lastName>
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            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
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                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
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            <relationshipClarification>Advisor of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>A.</middleName>
                <lastName>Schwarzman</lastName>
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                <street1>345 Park Avenue</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Hamilton</firstName>
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                <lastName>James</lastName>
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                <street1>345 Park Avenue</street1>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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                <firstName>Robert</firstName>
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                <street1>345 Park Avenue</street1>
                <street2></street2>
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                <zipCode>10154</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Garrett</firstName>
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                <lastName>Goldberg</lastName>
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                <street1>345 Park Avenue</street1>
                <street2></street2>
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                <zipCode>10154</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Randall</firstName>
                <middleName></middleName>
                <lastName>Rothschild</lastName>
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                <street1>345 Park Avenue</street1>
                <street2></street2>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kenneth</firstName>
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                <lastName>Caplan</lastName>
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                <street1>345 Park Avenue</street1>
                <street2></street2>
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                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Frank</firstName>
                <middleName></middleName>
                <lastName>Cohen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jonathan</firstName>
                <middleName>D.</middleName>
                <lastName>Gray</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName></middleName>
                <lastName>Nash</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>J.</middleName>
                <lastName>Stein</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gary</firstName>
                <middleName>M.</middleName>
                <lastName>Sumers</lastName>
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            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Laurence</firstName>
                <middleName>A.</middleName>
                <lastName>Tosi</lastName>
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            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
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                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kenneth</firstName>
                <middleName>C.</middleName>
                <lastName>Whitney</lastName>
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                <street1>345 Park Avenue</street1>
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                <zipCode>10154</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kathleen</firstName>
                <middleName></middleName>
                <lastName>Skero</lastName>
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            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <street2></street2>
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                <zipCode>10154</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Of the GP of the Issuer</relationshipClarification>
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                <firstName>Louis</firstName>
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                <lastName>Pomponio</lastName>
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            <relatedPersonName>
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            <relatedPersonName>
                <firstName>Maryfrances</firstName>
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                <firstName>Marsha</firstName>
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            </relatedPersonRelationshipList>
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    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
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        </industryGroup>
        <issuerSize>
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        </issuerSize>
        <federalExemptionsExclusions>
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            <dateOfFirstSale>
                <value>2009-06-30</value>
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            <descriptionOfOtherType>Limited Partnership Interests</descriptionOfOtherType>
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        <businessCombinationTransaction>
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            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1400000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>1400000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
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                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
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        <useOfProceeds>
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                <dollarAmount>0</dollarAmount>
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            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Blackstone Real Estate Special Situations Europe.2 L.P.</issuerName>
                <signatureName>/s/ Randall Rothschild</signatureName>
                <nameOfSigner>Randall Rothschild</nameOfSigner>
                <signatureTitle>Authorized Person</signatureTitle>
                <signatureDate>2009-07-15</signatureDate>
            </signature>
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</TEXT>
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</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----