10-Q 1 d227196d10q.htm 10-Q 10-Q
2029-12-312017 2018 2019 2020falseQ30001061630--12-312024-122024-122023-102023-10The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates, which include USD LIBOR and SOFR, as applicable to each securitized debt obligation. As of September 30, 2021, the floating benchmark rate for the financing provided on the 2020 FL3 and 2020 FL2 CLOs is the 30-day average compounded SOFR, plus a credit spread adjustment of 0.11%. As of September 30, 2021, the 30-day average compounded SOFR was 0.05% and one-month USD LIBOR was 0.08%.During the three and nine months ended September 30, 2021, we recorded $10.7 million and $35.2 million, respectively, of interest expense related to our securitized debt obligations.The collateral assets for the 2017 Single Asset Securitization include the total loan amount, of which we securitized $500.0 million.During the three and nine months ended September 30, 2020, we recorded $9.1 million and $31.8 million, respectively, of interest expense related to our securitized debt obligations.In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan origination costs, purchase discounts, and accrual of exit fees.The weighted-average all-in yield and cost are expressed as a spread over USD LIBOR.Loan term represents weighted-average final maturity, assuming all extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of the securitizations.Net proceeds represents proceeds received from the underwriters less applicable transaction costs.The amounts are net of 29,580 and 249 shares of restricted class A common stock forfeited under our stock-based incentive plans during the nine months ended September 30, 2021 and 2020, respectively. See Note 14 for further discussion of our stock-based incentive plans. 0001061630 2021-01-01 2021-09-30 0001061630 2021-09-30 0001061630 2020-12-31 0001061630 2021-07-01 2021-09-30 0001061630 2020-07-01 2020-09-30 0001061630 2020-01-01 2020-09-30 0001061630 2021-01-01 2021-03-31 0001061630 2021-04-01 2021-06-30 0001061630 2020-01-01 2020-03-31 0001061630 2020-04-01 2020-06-30 0001061630 2017-04-30 0001061630 2020-09-30 0001061630 2020-01-01 2020-12-31 0001061630 2018-09-30 0001061630 2013-05-07 2013-05-31 0001061630 2021-10-20 0001061630 2021-03-31 0001061630 2021-06-30 0001061630 2020-03-31 0001061630 2020-06-30 0001061630 2019-12-31 0001061630 us-gaap:SecuredDebtMember 2020-12-31 0001061630 bxmt:ConvertibleSeniorNoteMember 2020-12-31 0001061630 bxmt:CollateralAssetsMember bxmt:AssetSecuritizationMember 2020-12-31 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2020-12-31 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2020-12-31 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2020-12-31 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2020-12-31 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2020-12-31 0001061630 us-gaap:CollateralizedLoanObligationsMember bxmt:CollateralAssetsMember 2020-12-31 0001061630 us-gaap:CollateralizedLoanObligationsMember bxmt:DebtFinancingMember 2020-12-31 0001061630 bxmt:AssetSecuritizationMember bxmt:DebtFinancingMember 2020-12-31 0001061630 bxmt:CollateralAssetsMember 2020-12-31 0001061630 bxmt:DebtFinancingMember 2020-12-31 0001061630 bxmt:RiskRatingOneMember 2020-12-31 0001061630 bxmt:RiskRatingTwoMember 2020-12-31 0001061630 bxmt:RiskRatingThreeMember 2020-12-31 0001061630 bxmt:RiskRatingFourMember 2020-12-31 0001061630 bxmt:RiskRating5Member 2020-12-31 0001061630 us-gaap:LoansReceivableMember 2020-12-31 0001061630 us-gaap:CorporateJointVentureMember srt:MultifamilyMember 2020-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember 2020-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateContractMember 2020-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember 2020-12-31 0001061630 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2020-12-31 0001061630 us-gaap:NondesignatedMember us-gaap:InterestRateContractMember 2020-12-31 0001061630 us-gaap:NondesignatedMember 2020-12-31 0001061630 bxmt:FloatingRateMortgageMember 2020-12-31 0001061630 bxmt:PrepaymentRestrictionsIncludingYieldMaintenanceLockOutProvisionsMember 2020-12-31 0001061630 bxmt:WithoutPrepaymentRestrictionsMember 2020-12-31 0001061630 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherAssetsMember 2020-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-12-31 0001061630 bxmt:BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember 2020-12-31 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0001061630 us-gaap:FairValueMeasurementsRecurringMember 2020-12-31 0001061630 bxmt:AcquisitionFacilityMember 2020-12-31 0001061630 us-gaap:LoansReceivableMember us-gaap:UnfundedLoanCommitmentMember 2020-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember bxmt:SecuritizedDebtObligationsNetMember 2020-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherLiabilitiesMember 2020-12-31 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-12-31 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2020-12-31 0001061630 bxmt:ForeignExchangeContractBuyEuropeanDollarSellGreatBritainPoundMember us-gaap:NondesignatedMember currency:GBP 2020-12-31 0001061630 bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember us-gaap:NondesignatedMember currency:EUR 2020-12-31 0001061630 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0001061630 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember us-gaap:NetInvestmentHedgingMember currency:EUR 2020-12-31 0001061630 currency:GBP us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellAustraliianDollarMember currency:AUD 2020-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellCanadaDollarMember currency:CAD 2020-12-31 0001061630 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateCapMember currency:CAD bxmt:CdorMember 2020-12-31 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2020-12-31 0001061630 srt:OfficeBuildingMember 2020-12-31 0001061630 bxmt:HospitalityMember 2020-12-31 0001061630 srt:MultifamilyMember 2020-12-31 0001061630 bxmt:IndustrialMember 2020-12-31 0001061630 srt:RetailSiteMember 2020-12-31 0001061630 bxmt:LifeSciencesMember 2020-12-31 0001061630 srt:OtherPropertyMember 2020-12-31 0001061630 bxmt:UnitedStatesNortheastMember 2020-12-31 0001061630 bxmt:UnitedStatesWestMember 2020-12-31 0001061630 bxmt:UnitedStatesSoutheastMember 2020-12-31 0001061630 bxmt:UnitedStatesMidwestMember 2020-12-31 0001061630 bxmt:UnitedStatesSouthwestMember 2020-12-31 0001061630 bxmt:UnitedStatesNorthwestMember 2020-12-31 0001061630 country:US 2020-12-31 0001061630 country:GB 2020-12-31 0001061630 country:IE 2020-12-31 0001061630 country:ES 2020-12-31 0001061630 country:AU 2020-12-31 0001061630 country:CA 2020-12-31 0001061630 bxmt:OtherEuropeMember 2020-12-31 0001061630 us-gaap:NonUsMember 2020-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:GeographicDistributionDomesticMember 2020-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingTwoMember 2020-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionDomesticMember 2020-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:GeographicDistributionDomesticMember 2020-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingFiveMember 2020-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingOneMember 2020-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingTwoMember 2020-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionForeignMember 2020-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFourMember 2020-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFiveMember 2020-12-31 0001061630 us-gaap:GeographicDistributionForeignMember 2020-12-31 0001061630 bxmt:RiskRatingOneMember bxmt:UniqueLoansMember 2020-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingTwoMember 2020-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingThreeMember 2020-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFourMember 2020-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFiveMember 2020-12-31 0001061630 bxmt:UniqueLoansMember 2020-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingOneMember 2020-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingTwoMember 2020-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingThreeMember 2020-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFourMember 2020-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFiveMember 2020-12-31 0001061630 bxmt:ImpairedLoansMember 2020-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:LoansReceivableMember 2020-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingTwoMember 2020-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:LoansReceivableMember 2020-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFourMember 2020-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFiveMember 2020-12-31 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2020-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2020-12-31 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-12-31 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-12-31 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2020-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-12-31 0001061630 us-gaap:GeographicDistributionForeignMember 2020-12-31 0001061630 bxmt:CurrentExpectedCreditLossReserveMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-12-31 0001061630 bxmt:TermLoanMember 2020-12-31 0001061630 bxmt:AssetSpecificFinancingsMember 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateOnePointFiveZeroPercentOrLessMember 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateOnePointFiveOnePercentToOnePointSevenFivePercentMember 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateOnePointSevenSixPercentToTwoPointZeroZeroPercentMember 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateTwoPointZeroOnePercentOrMoreMember 2020-12-31 0001061630 bxmt:CreditFacilitiesMember 2020-12-31 0001061630 us-gaap:SecuredDebtMember 2021-09-30 0001061630 us-gaap:RestrictedStockMember 2021-09-30 0001061630 us-gaap:LoansReceivableMember 2021-09-30 0001061630 us-gaap:CommonStockMember 2021-09-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2021-09-30 0001061630 bxmt:FourPointSevenFivePercentConvertibleSeniorNotesIssuedInMarchTwoThousandAndEighteenMember us-gaap:CommonStockMember 2021-09-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesIssuedInMayTwoThousandAndSeventeenMember us-gaap:CommonStockMember 2021-09-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember 2021-09-30 0001061630 bxmt:FourPointSevenFivePercentConvertibleSeniorNotesMember 2021-09-30 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2021-09-30 0001061630 bxmt:TwentyTwentyOneFlFourCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2021-09-30 0001061630 bxmt:TwentyTwentyOneFlFourCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2021-09-30 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2021-09-30 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2021-09-30 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2021-09-30 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2021-09-30 0001061630 bxmt:CollateralAssetsMember 2021-09-30 0001061630 bxmt:DebtFinancingMember 2021-09-30 0001061630 bxmt:RiskRatingOneMember 2021-09-30 0001061630 bxmt:RiskRatingTwoMember 2021-09-30 0001061630 bxmt:RiskRatingThreeMember 2021-09-30 0001061630 bxmt:RiskRatingFourMember 2021-09-30 0001061630 bxmt:RiskRating5Member 2021-09-30 0001061630 us-gaap:CorporateJointVentureMember srt:MultifamilyMember 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateContractMember 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember 2021-09-30 0001061630 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2021-09-30 0001061630 us-gaap:NondesignatedMember us-gaap:InterestRateContractMember 2021-09-30 0001061630 us-gaap:NondesignatedMember 2021-09-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember us-gaap:CommonStockMember 2021-09-30 0001061630 us-gaap:CommonClassAMember bxmt:StockIncentiveCurrentPlanMember 2021-09-30 0001061630 bxmt:ExpiredPlansMember 2021-09-30 0001061630 bxmt:FloatingRateMortgageMember 2021-09-30 0001061630 bxmt:FixedRateMortgageMember 2021-09-30 0001061630 bxmt:PrepaymentRestrictionsIncludingYieldMaintenanceLockOutProvisionsMember 2021-09-30 0001061630 bxmt:WithoutPrepaymentRestrictionsMember 2021-09-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2021-09-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherAssetsMember 2021-09-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2021-09-30 0001061630 bxmt:BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember 2021-09-30 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-09-30 0001061630 us-gaap:FairValueMeasurementsRecurringMember 2021-09-30 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-09-30 0001061630 bxmt:AcquisitionFacilityMember 2021-09-30 0001061630 us-gaap:LoansReceivableMember us-gaap:UnfundedLoanCommitmentMember 2021-09-30 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-09-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember bxmt:SecuritizedDebtObligationsNetMember 2021-09-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherLiabilitiesMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember 2021-09-30 0001061630 bxmt:AssetSpecificDebtAgreementsMember 2021-09-30 0001061630 bxmt:SecuredTermLoansMember 2021-09-30 0001061630 us-gaap:ConvertibleDebtMember 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2021-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2021-09-30 0001061630 us-gaap:RestrictedStockMember bxmt:VestingPeriodTwoThousandTwentyOneMember 2021-09-30 0001061630 us-gaap:RestrictedStockMember bxmt:VestingPeriodTwoThousandAndTwentyTwoMember 2021-09-30 0001061630 us-gaap:RestrictedStockMember bxmt:VestingPeriodTwoThousandAndTwentyThreeMemberMember 2021-09-30 0001061630 bxmt:ForeignExchangeContractBuyGreatBritainPoundSellEuroMember currency:EUR us-gaap:NondesignatedMember 2021-09-30 0001061630 bxmt:ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember country:US us-gaap:NondesignatedMember 2021-09-30 0001061630 bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember currency:EUR us-gaap:NondesignatedMember 2021-09-30 0001061630 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-09-30 0001061630 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember currency:SEK 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember currency:EUR 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember currency:GBP 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellAustraliianDollarMember currency:AUD 2021-09-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellCanadaDollarMember currency:CAD 2021-09-30 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2021-09-30 0001061630 us-gaap:InterestRateCapMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember currency:CAD bxmt:CdorMember 2021-09-30 0001061630 us-gaap:InternalRevenueServiceIRSMember 2021-09-30 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2021-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember 2021-09-30 0001061630 srt:OfficeBuildingMember 2021-09-30 0001061630 srt:MultifamilyMember 2021-09-30 0001061630 bxmt:HospitalityMember 2021-09-30 0001061630 bxmt:IndustrialMember 2021-09-30 0001061630 srt:RetailSiteMember 2021-09-30 0001061630 bxmt:LifeSciencesMember 2021-09-30 0001061630 srt:OtherPropertyMember 2021-09-30 0001061630 bxmt:UnitedStatesNortheastMember 2021-09-30 0001061630 bxmt:UnitedStatesWestMember 2021-09-30 0001061630 bxmt:UnitedStatesSoutheastMember 2021-09-30 0001061630 bxmt:UnitedStatesSouthwestMember 2021-09-30 0001061630 bxmt:UnitedStatesMidwestMember 2021-09-30 0001061630 bxmt:UnitedStatesNorthwestMember 2021-09-30 0001061630 country:US 2021-09-30 0001061630 country:GB 2021-09-30 0001061630 country:ES 2021-09-30 0001061630 country:IE 2021-09-30 0001061630 country:SE 2021-09-30 0001061630 country:AU 2021-09-30 0001061630 country:CA 2021-09-30 0001061630 bxmt:OtherEuropeMember 2021-09-30 0001061630 us-gaap:NonUsMember 2021-09-30 0001061630 us-gaap:CommonStockMember bxmt:AtTheMarketAgreementMember 2021-09-30 0001061630 bxmt:CreditFacilitiesEightMember bxmt:FourOfTheEightSecuredCreditFacilitiesMember 2021-09-30 0001061630 bxmt:BarclaysMember us-gaap:RevolvingCreditFacilityMember 2021-09-30 0001061630 bxmt:SeniorTermFacilityMember bxmt:SeniorLoanOriginationUnderMarketedProcessMember 2021-09-30 0001061630 bxmt:SeniorTermFacilityMember bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember 2021-09-30 0001061630 bxmt:SeniorTermFacilityMember 2021-09-30 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:SeniorTermFacilityMember bxmt:SeniorLoanOriginationUnderMarketedProcessMember 2021-09-30 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:SeniorTermFacilityMember bxmt:AdditionalSeniorLoanOriginationUnderMarketedProcessMember 2021-09-30 0001061630 bxmt:UnaffiliatedThirdPartiesMember bxmt:SeniorTermFacilityMember bxmt:SeniorLoanOriginationUnderMarketedProcessMember 2021-09-30 0001061630 srt:MinimumMember 2021-09-30 0001061630 bxmt:TwentyNineteenTermLoanMember 2021-09-30 0001061630 bxmt:TwentyTwentyTermLoanMember 2021-09-30 0001061630 bxmt:BTwoTermLoanMember bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember 2021-09-30 0001061630 bxmt:RiskRatingOneMember us-gaap:GeographicDistributionDomesticMember 2021-09-30 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingTwoMember 2021-09-30 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionDomesticMember 2021-09-30 0001061630 bxmt:RiskRatingFourMember us-gaap:GeographicDistributionDomesticMember 2021-09-30 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingFiveMember 2021-09-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2021-09-30 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingOneMember 2021-09-30 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingTwoMember 2021-09-30 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionForeignMember 2021-09-30 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFourMember 2021-09-30 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFiveMember 2021-09-30 0001061630 us-gaap:GeographicDistributionForeignMember 2021-09-30 0001061630 bxmt:RiskRatingOneMember bxmt:UniqueLoansMember 2021-09-30 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingTwoMember 2021-09-30 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingThreeMember 2021-09-30 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFourMember 2021-09-30 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFiveMember 2021-09-30 0001061630 bxmt:UniqueLoansMember 2021-09-30 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingOneMember 2021-09-30 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingTwoMember 2021-09-30 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingThreeMember 2021-09-30 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFourMember 2021-09-30 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFiveMember 2021-09-30 0001061630 bxmt:ImpairedLoansMember 2021-09-30 0001061630 bxmt:RiskRatingOneMember us-gaap:LoansReceivableMember 2021-09-30 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingTwoMember 2021-09-30 0001061630 bxmt:RiskRatingThreeMember us-gaap:LoansReceivableMember 2021-09-30 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFourMember 2021-09-30 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFiveMember 2021-09-30 0001061630 us-gaap:FairValueMeasurementsNonrecurringMember bxmt:ImpairedLoansMember us-gaap:FairValueInputsLevel3Member 2021-09-30 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionDomesticMember 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:ImpairedLoansMember 2021-09-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2021-09-30 0001061630 us-gaap:GeographicDistributionForeignMember 2021-09-30 0001061630 bxmt:Covid19PandemicMember 2021-09-30 0001061630 bxmt:CurrentExpectedCreditLossReserveMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2021-09-30 0001061630 bxmt:CurrentExpectedCreditLossReserveMember 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:AccountingStandardsUpdate201613Member 2021-09-30 0001061630 srt:MaximumMember 2021-09-30 0001061630 bxmt:TermLoanMember 2021-09-30 0001061630 us-gaap:AccountingStandardsUpdate201613Member us-gaap:GeographicDistributionDomesticMember srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2021-09-30 0001061630 us-gaap:AccountingStandardsUpdate201613Member us-gaap:GeographicDistributionForeignMember srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2021-09-30 0001061630 bxmt:UniqueLoansMember us-gaap:AccountingStandardsUpdate201613Member srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2021-09-30 0001061630 us-gaap:LoansAndFinanceReceivablesMember srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember us-gaap:AccountingStandardsUpdate201613Member 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:AccountingStandardsUpdate201613Member srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2021-09-30 0001061630 us-gaap:AccountingStandardsUpdate201613Member srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2021-09-30 0001061630 us-gaap:MeasurementInputCapRateMember us-gaap:FairValueInputsLevel3Member srt:MinimumMember 2021-09-30 0001061630 us-gaap:MeasurementInputCapRateMember us-gaap:FairValueInputsLevel3Member srt:MaximumMember 2021-09-30 0001061630 bxmt:AssetSpecificFinancingsMember 2021-09-30 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember 2021-09-30 0001061630 us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2021-09-30 0001061630 bxmt:TwoThousandTwentyOneFLFourCollateralizedLoanMember 2021-09-30 0001061630 bxmt:CreditFacilitiesSixMember 2021-09-30 0001061630 bxmt:CreditFacilitiesMember 2021-09-30 0001061630 us-gaap:RevolvingCreditFacilityMember bxmt:AcquisitionFacilityMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:USD 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:EUR 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:GBP 2021-09-30 0001061630 us-gaap:SecuredDebtMember bxmt:OtherCurrenciesMember 2021-09-30 0001061630 us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember us-gaap:CreditSpreadOptionMember 2021-09-30 0001061630 us-gaap:CreditSpreadOptionMember bxmt:UnitedStateDollarLiborRateMember 2021-09-30 0001061630 us-gaap:CreditSpreadOptionMember bxmt:SterlingOvernightInterbankAverageRateMember 2021-09-30 0001061630 us-gaap:CreditSpreadOptionMember bxmt:GreatBritainPoundLiborRateMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:USD srt:MinimumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:USD srt:MaximumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:EUR srt:MinimumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:EUR srt:MaximumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:GBP srt:MinimumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:GBP srt:MaximumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember bxmt:OtherCurrenciesMember srt:MinimumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember bxmt:OtherCurrenciesMember srt:MaximumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember srt:MinimumMember 2021-09-30 0001061630 us-gaap:SecuredDebtMember srt:MaximumMember 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateOnePointFiveZeroPercentOrLessMember 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateOnePointFiveOnePercentToOnePointSevenFivePercentMember 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateOnePointSevenSixPercentToTwoPointZeroZeroPercentMember 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:VariableInterestRateTwoPointZeroOnePercentOrMoreMember 2021-09-30 0001061630 bxmt:FixedRateMember currency:USD 2021-09-30 0001061630 bxmt:NonUSDMember bxmt:FixedRateMember 2021-09-30 0001061630 bxmt:FixedRateMember 2021-09-30 0001061630 bxmt:ZeroPercentOrNoFloorMember currency:USD 2021-09-30 0001061630 bxmt:NonUSDMember bxmt:ZeroPercentOrNoFloorMember 2021-09-30 0001061630 bxmt:ZeroPercentOrNoFloorMember 2021-09-30 0001061630 bxmt:ZeroPointZeroOnePercentToZeroPointTwoFourPercentFloorMember currency:USD 2021-09-30 0001061630 bxmt:NonUSDMember bxmt:ZeroPointZeroOnePercentToZeroPointTwoFourPercentFloorMember 2021-09-30 0001061630 bxmt:ZeroPointZeroOnePercentToZeroPointTwoFourPercentFloorMember 2021-09-30 0001061630 bxmt:ZeroPointTwoFivePercentToZeroPointNineNinePercentMember currency:USD 2021-09-30 0001061630 bxmt:NonUSDMember bxmt:ZeroPointTwoFivePercentToZeroPointNineNinePercentMember 2021-09-30 0001061630 bxmt:ZeroPointTwoFivePercentToZeroPointNineNinePercentMember 2021-09-30 0001061630 bxmt:OnePercentOrMoreFloorMember currency:USD 2021-09-30 0001061630 bxmt:NonUSDMember bxmt:OnePercentOrMoreFloorMember 2021-09-30 0001061630 bxmt:OnePercentOrMoreFloorMember 2021-09-30 0001061630 currency:USD 2021-09-30 0001061630 bxmt:NonUSDMember 2021-09-30 0001061630 bxmt:ZeroPointZeroOnePercentToZeroPointTwoFourPercentFloorMember srt:MinimumMember 2021-09-30 0001061630 bxmt:ZeroPointZeroOnePercentToZeroPointTwoFourPercentFloorMember srt:MaximumMember 2021-09-30 0001061630 bxmt:ZeroPointTwoFivePercentToZeroPointNineNinePercentMember srt:MinimumMember 2021-09-30 0001061630 bxmt:ZeroPointTwoFivePercentToZeroPointNineNinePercentMember srt:MaximumMember 2021-09-30 0001061630 srt:WeightedAverageMember bxmt:ZeroPointTwoFivePercentToZeroPointNineNinePercentMember 2021-09-30 0001061630 srt:MultifamilyMember us-gaap:CorporateJointVentureMember 2020-01-01 2020-09-30 0001061630 us-gaap:CommonStockMember 2020-01-01 2020-09-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2020-01-01 2020-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2020-01-01 2020-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember 2020-01-01 2020-09-30 0001061630 us-gaap:CommonStockMember bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2020-01-01 2020-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember 2020-01-01 2020-09-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2020-01-01 2020-09-30 0001061630 bxmt:CurrentExpectedCreditLossReserveMember 2020-01-01 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-01-01 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestIncomeMember 2020-01-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestIncomeMember 2020-01-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestExpenseMember 2020-01-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember 2020-01-01 2020-09-30 0001061630 bxmt:Covid19PandemicMember 2020-01-01 2020-09-30 0001061630 us-gaap:RestrictedStockMember us-gaap:CommonStockMember 2020-01-01 2020-09-30 0001061630 us-gaap:CorporateJointVentureMember srt:MultifamilyMember 2020-07-01 2020-09-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2020-07-01 2020-09-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2020-07-01 2020-09-30 0001061630 us-gaap:ParentMember 2020-07-01 2020-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2020-07-01 2020-09-30 0001061630 us-gaap:RetainedEarningsMember 2020-07-01 2020-09-30 0001061630 us-gaap:CommonStockMember bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2020-07-01 2020-09-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-07-01 2020-09-30 0001061630 us-gaap:NoncontrollingInterestMember 2020-07-01 2020-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember 2020-07-01 2020-09-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2020-07-01 2020-09-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-07-01 2020-09-30 0001061630 us-gaap:GeographicDistributionForeignMember 2020-07-01 2020-09-30 0001061630 bxmt:UniqueLoansMember 2020-07-01 2020-09-30 0001061630 bxmt:ImpairedLoansMember 2020-07-01 2020-09-30 0001061630 bxmt:CurrentExpectedCreditLossReserveMember 2020-07-01 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-07-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestIncomeMember 2020-07-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestIncomeMember 2020-07-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestExpenseMember 2020-07-01 2020-09-30 0001061630 us-gaap:ForeignExchangeForwardMember 2020-07-01 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionDomesticMember 2020-07-01 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-07-01 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-07-01 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:ImpairedLoansMember 2020-07-01 2020-09-30 0001061630 bxmt:Covid19PandemicMember 2020-07-01 2020-09-30 0001061630 bxmt:RiskRatingOneMember 2021-01-01 2021-09-30 0001061630 bxmt:RiskRatingTwoMember 2021-01-01 2021-09-30 0001061630 bxmt:RiskRatingThreeMember 2021-01-01 2021-09-30 0001061630 bxmt:RiskRatingFourMember 2021-01-01 2021-09-30 0001061630 bxmt:RiskRating5Member 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyOneFlFourCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyOneFlFourCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2021-01-01 2021-09-30 0001061630 bxmt:CollateralAssetsMember 2021-01-01 2021-09-30 0001061630 bxmt:DebtFinancingMember 2021-01-01 2021-09-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember 2021-01-01 2021-09-30 0001061630 bxmt:FourPointSevenFivePercentConvertibleSeniorNotesMember 2021-01-01 2021-09-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember us-gaap:CommonStockMember 2021-01-01 2021-09-30 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2021-01-01 2021-09-30 0001061630 us-gaap:InterestRateContractMember 2021-01-01 2021-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2021-01-01 2021-09-30 0001061630 srt:MultifamilyMember us-gaap:CorporateJointVentureMember 2021-01-01 2021-09-30 0001061630 us-gaap:CommonStockMember 2021-01-01 2021-09-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2021-01-01 2021-09-30 0001061630 us-gaap:LoansReceivableMember 2021-01-01 2021-09-30 0001061630 us-gaap:RestrictedStockMember 2021-01-01 2021-09-30 0001061630 bxmt:HeldToMaturityDebtSecuritiesMember 2021-01-01 2021-09-30 0001061630 bxmt:NetInvestmentMember us-gaap:ForeignExchangeContractMember us-gaap:InterestExpenseMember 2021-01-01 2021-09-30 0001061630 us-gaap:CashFlowHedgingMember us-gaap:InterestRateContractMember us-gaap:InterestExpenseMember 2021-01-01 2021-09-30 0001061630 us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember 2021-01-01 2021-09-30 0001061630 bxmt:CollateralAssetsMember bxmt:TwentyTwentyOneFlFourCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:DebtFinancingMember bxmt:TwentyTwentyOneFlFourCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:CollateralAssetsMember bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:DebtFinancingMember bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:CollateralAssetsMember bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:DebtFinancingMember bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:CollateralAssetsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:DebtFinancingMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 bxmt:BoardOfDirectorsMember 2021-01-01 2021-09-30 0001061630 bxmt:AuditDirectorMember 2021-01-01 2021-09-30 0001061630 bxmt:CompensationAndCorporateGovernanceCommitteesMember bxmt:AmendmentOneMember 2021-01-01 2021-09-30 0001061630 bxmt:CompensationAndCorporateGovernanceCommitteesMember 2021-01-01 2021-09-30 0001061630 bxmt:AuditCommitteeMembersMember 2021-01-01 2021-09-30 0001061630 bxmt:InvestmentRiskManagementCommitteeMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:DebtFinancingMember us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:DebtFinancingMember us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2021-01-01 2021-09-30 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2021-01-01 2021-09-30 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember us-gaap:LoansReceivableMember 2021-01-01 2021-09-30 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember us-gaap:CommonStockMember 2021-01-01 2021-09-30 0001061630 srt:OfficeBuildingMember 2021-01-01 2021-09-30 0001061630 srt:MultifamilyMember 2021-01-01 2021-09-30 0001061630 bxmt:HospitalityMember 2021-01-01 2021-09-30 0001061630 bxmt:IndustrialMember 2021-01-01 2021-09-30 0001061630 srt:RetailSiteMember 2021-01-01 2021-09-30 0001061630 bxmt:LifeSciencesMember 2021-01-01 2021-09-30 0001061630 srt:OtherPropertyMember 2021-01-01 2021-09-30 0001061630 bxmt:UnitedStatesNortheastMember 2021-01-01 2021-09-30 0001061630 bxmt:UnitedStatesWestMember 2021-01-01 2021-09-30 0001061630 bxmt:UnitedStatesSoutheastMember 2021-01-01 2021-09-30 0001061630 bxmt:UnitedStatesSouthwestMember 2021-01-01 2021-09-30 0001061630 bxmt:UnitedStatesMidwestMember 2021-01-01 2021-09-30 0001061630 bxmt:UnitedStatesNorthwestMember 2021-01-01 2021-09-30 0001061630 country:US 2021-01-01 2021-09-30 0001061630 country:GB 2021-01-01 2021-09-30 0001061630 country:ES 2021-01-01 2021-09-30 0001061630 country:IE 2021-01-01 2021-09-30 0001061630 country:SE 2021-01-01 2021-09-30 0001061630 country:AU 2021-01-01 2021-09-30 0001061630 country:CA 2021-01-01 2021-09-30 0001061630 bxmt:OtherEuropeMember 2021-01-01 2021-09-30 0001061630 us-gaap:NonUsMember 2021-01-01 2021-09-30 0001061630 us-gaap:InternalRevenueServiceIRSMember 2021-01-01 2021-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember bxmt:ManagerMember 2021-01-01 2021-09-30 0001061630 us-gaap:RestrictedStockMember us-gaap:CommonStockMember bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2021-01-01 2021-09-30 0001061630 us-gaap:RevolvingCreditFacilityMember 2021-01-01 2021-09-30 0001061630 srt:MinimumMember 2021-01-01 2021-09-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2021-01-01 2021-09-30 0001061630 bxmt:TermLoanMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyNineteenTermLoanMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyTermLoanMember 2021-01-01 2021-09-30 0001061630 bxmt:BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember bxmt:BTwoTermLoanMember 2021-01-01 2021-09-30 0001061630 bxmt:BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember bxmt:BOneTermLoanMember 2021-01-01 2021-09-30 0001061630 bxmt:CurrentExpectedCreditLossReserveMember 2021-01-01 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2021-01-01 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:AccountingStandardsUpdate201613Member 2021-01-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestIncomeMember 2021-01-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestIncomeMember 2021-01-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestExpenseMember 2021-01-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember 2021-01-01 2021-09-30 0001061630 bxmt:Covid19PandemicMember 2021-01-01 2021-09-30 0001061630 bxmt:CurrentExpectedCreditLossTroubledDebtRestructuringPrincipalAmountDueIsFiftyTwoPointFourMillionDollarsMember bxmt:ReductionInLoanSpreadAndExtensionInMaturityDateMember 2021-01-01 2021-09-30 0001061630 bxmt:ReductionInLoanSpreadAndExtensionInMaturityDateMember bxmt:CurrentExpectedCreditLossTroubledDebtRestructuringPrincipalAmountDueIsFiftyFourPointNineMillionDollarsMember 2021-01-01 2021-09-30 0001061630 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateCapMember currency:CAD bxmt:CdorMember 2021-01-01 2021-09-30 0001061630 bxmt:AssetSpecificFinancingsMember 2021-01-01 2021-09-30 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:AssetSpecificFinancingsMember 2021-01-01 2021-09-30 0001061630 us-gaap:RestrictedStockMember us-gaap:CommonStockMember 2021-01-01 2021-09-30 0001061630 bxmt:TwentyTwentyTermLoanMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-09-30 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:TwentyNineteenTermLoanMember 2021-01-01 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:USD 2021-01-01 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:EUR 2021-01-01 2021-09-30 0001061630 us-gaap:SecuredDebtMember currency:GBP 2021-01-01 2021-09-30 0001061630 us-gaap:SecuredDebtMember bxmt:OtherCurrenciesMember 2021-01-01 2021-09-30 0001061630 us-gaap:SecuredDebtMember 2021-01-01 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:UnitedStateDollarLiborRateMember 2021-01-01 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:GBPLIBORMember srt:MinimumMember 2021-01-01 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:GBPLIBORMember srt:MaximumMember 2021-01-01 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:SterlingOvernightInterbankAverageRateMember srt:MinimumMember 2021-01-01 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:SterlingOvernightInterbankAverageRateMember srt:MaximumMember 2021-01-01 2021-09-30 0001061630 bxmt:CreditFacilitiesMember bxmt:SekMember 2021-01-01 2021-09-30 0001061630 bxmt:AccountingStandardUpdateTwoThousandAndTwentyZeroSixMember bxmt:FirstOfJanuaryTwoThousandAndTwentyTwoMember 2021-01-01 2021-09-30 0001061630 us-gaap:LoansReceivableMember 2021-07-01 2021-09-30 0001061630 us-gaap:CorporateJointVentureMember srt:MultifamilyMember 2021-07-01 2021-09-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2021-07-01 2021-09-30 0001061630 us-gaap:CommonStockMember 2021-07-01 2021-09-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2021-07-01 2021-09-30 0001061630 us-gaap:ParentMember 2021-07-01 2021-09-30 0001061630 bxmt:OneOfTheSecuredCreditFacilitiesMember bxmt:CreditFacilitiesEightMember 2021-07-01 2021-09-30 0001061630 bxmt:NetInvestmentMember us-gaap:ForeignExchangeContractMember us-gaap:InterestExpenseMember 2021-07-01 2021-09-30 0001061630 us-gaap:CashFlowHedgingMember us-gaap:InterestRateContractMember us-gaap:InterestExpenseMember 2021-07-01 2021-09-30 0001061630 us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember 2021-07-01 2021-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2021-07-01 2021-09-30 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember us-gaap:CommonStockMember 2021-07-01 2021-09-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-07-01 2021-09-30 0001061630 us-gaap:RetainedEarningsMember 2021-07-01 2021-09-30 0001061630 us-gaap:NoncontrollingInterestMember 2021-07-01 2021-09-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember 2021-07-01 2021-09-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2021-07-01 2021-09-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2021-07-01 2021-09-30 0001061630 us-gaap:GeographicDistributionForeignMember 2021-07-01 2021-09-30 0001061630 bxmt:UniqueLoansMember 2021-07-01 2021-09-30 0001061630 bxmt:ImpairedLoansMember 2021-07-01 2021-09-30 0001061630 bxmt:CurrentExpectedCreditLossReserveMember 2021-07-01 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2021-07-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestIncomeMember 2021-07-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestIncomeMember 2021-07-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember us-gaap:InterestExpenseMember 2021-07-01 2021-09-30 0001061630 us-gaap:ForeignExchangeForwardMember 2021-07-01 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionDomesticMember 2021-07-01 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2021-07-01 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2021-07-01 2021-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:ImpairedLoansMember 2021-07-01 2021-09-30 0001061630 bxmt:Covid19PandemicMember 2021-07-01 2021-09-30 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:SeniorTermFacilityMember 2021-07-01 2021-09-30 0001061630 bxmt:SeniorTermFacilityMember 2021-07-01 2021-09-30 0001061630 us-gaap:CommonStockMember 2021-01-01 2021-03-31 0001061630 us-gaap:ParentMember 2021-01-01 2021-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-03-31 0001061630 us-gaap:RetainedEarningsMember 2021-01-01 2021-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2021-01-01 2021-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2021-01-01 2021-03-31 0001061630 us-gaap:GeographicDistributionForeignMember 2021-01-01 2021-03-31 0001061630 bxmt:UniqueLoansMember 2021-01-01 2021-03-31 0001061630 bxmt:ImpairedLoansMember 2021-01-01 2021-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2021-01-01 2021-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2021-01-01 2021-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2021-01-01 2021-03-31 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2021-01-01 2021-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember 2021-01-01 2021-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2021-04-01 2021-06-30 0001061630 us-gaap:ParentMember 2021-04-01 2021-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-04-01 2021-06-30 0001061630 us-gaap:RetainedEarningsMember 2021-04-01 2021-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2021-04-01 2021-06-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2021-04-01 2021-06-30 0001061630 us-gaap:GeographicDistributionForeignMember 2021-04-01 2021-06-30 0001061630 bxmt:UniqueLoansMember 2021-04-01 2021-06-30 0001061630 bxmt:ImpairedLoansMember 2021-04-01 2021-06-30 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2021-04-01 2021-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2021-04-01 2021-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2021-04-01 2021-06-30 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2021-04-01 2021-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2021-04-01 2021-06-30 0001061630 bxmt:SeniorTermFacilityMember 2021-04-01 2021-06-30 0001061630 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001061630 us-gaap:ParentMember 2020-01-01 2020-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001061630 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-01-01 2020-03-31 0001061630 us-gaap:GeographicDistributionForeignMember 2020-01-01 2020-03-31 0001061630 bxmt:UniqueLoansMember 2020-01-01 2020-03-31 0001061630 bxmt:ImpairedLoansMember 2020-01-01 2020-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2020-01-01 2020-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-01-01 2020-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-01-01 2020-03-31 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2020-01-01 2020-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-01-01 2020-03-31 0001061630 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0001061630 us-gaap:ParentMember 2020-04-01 2020-06-30 0001061630 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2020-04-01 2020-06-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-04-01 2020-06-30 0001061630 us-gaap:GeographicDistributionForeignMember 2020-04-01 2020-06-30 0001061630 bxmt:UniqueLoansMember 2020-04-01 2020-06-30 0001061630 bxmt:ImpairedLoansMember 2020-04-01 2020-06-30 0001061630 bxmt:CurrentExpectedCreditLossTroubledDebtRestructuringPrincipalAmountDueIsFiftyTwoPointFourMillionDollarsMember bxmt:ReductionInLoanSpreadAndExtensionInMaturityDateMember 2020-04-01 2020-06-30 0001061630 bxmt:ReductionInLoanSpreadAndExtensionInMaturityDateMember bxmt:CurrentExpectedCreditLossTroubledDebtRestructuringPrincipalAmountDueIsFiftyFourPointNineMillionDollarsMember 2020-04-01 2020-06-30 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2020-04-01 2020-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-04-01 2020-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-04-01 2020-06-30 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2020-04-01 2020-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-04-01 2020-06-30 0001061630 bxmt:WalkerAndDunlopMember 2017-04-30 0001061630 us-gaap:RestrictedStockMember 2020-09-30 0001061630 bxmt:BTwoTermLoanMember bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionDomesticMember 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:ImpairedLoansMember 2020-09-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-09-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-09-30 0001061630 us-gaap:GeographicDistributionForeignMember 2020-09-30 0001061630 bxmt:UniqueLoansMember 2020-09-30 0001061630 bxmt:ImpairedLoansMember 2020-09-30 0001061630 bxmt:Covid19PandemicMember 2020-09-30 0001061630 bxmt:CurrentExpectedCreditLossReserveMember 2020-09-30 0001061630 bxmt:RiskRatingOneMember 2020-01-01 2020-12-31 0001061630 bxmt:RiskRatingTwoMember 2020-01-01 2020-12-31 0001061630 bxmt:RiskRatingThreeMember 2020-01-01 2020-12-31 0001061630 bxmt:RiskRatingFourMember 2020-01-01 2020-12-31 0001061630 bxmt:RiskRating5Member 2020-01-01 2020-12-31 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2020-01-01 2020-12-31 0001061630 bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2020-01-01 2020-12-31 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:CollateralAssetsMember 2020-01-01 2020-12-31 0001061630 bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember bxmt:DebtFinancingMember 2020-01-01 2020-12-31 0001061630 us-gaap:CollateralizedLoanObligationsMember bxmt:CollateralAssetsMember 2020-01-01 2020-12-31 0001061630 us-gaap:CollateralizedLoanObligationsMember bxmt:DebtFinancingMember 2020-01-01 2020-12-31 0001061630 bxmt:AssetSecuritizationMember bxmt:CollateralAssetsMember 2020-01-01 2020-12-31 0001061630 bxmt:AssetSecuritizationMember bxmt:DebtFinancingMember 2020-01-01 2020-12-31 0001061630 bxmt:CollateralAssetsMember 2020-01-01 2020-12-31 0001061630 bxmt:DebtFinancingMember 2020-01-01 2020-12-31 0001061630 us-gaap:LoansReceivableMember 2020-01-01 2020-12-31 0001061630 bxmt:CollateralAssetsMember bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:DebtFinancingMember bxmt:TwentyTwentyFlThreeCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:CollateralAssetsMember bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:DebtFinancingMember bxmt:TwentyTwentyFlTwoCollateralizedLoanObligationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:CollateralAssetsMember us-gaap:CollateralizedLoanObligationsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:DebtFinancingMember us-gaap:CollateralizedLoanObligationsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:CollateralAssetsMember bxmt:CollateralizedLoanObligations2020Member 2020-01-01 2020-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:DebtFinancingMember bxmt:CollateralizedLoanObligations2020Member 2020-01-01 2020-12-31 0001061630 bxmt:CollateralAssetsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:DebtFinancingMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:AssetSecuritizationMember bxmt:CollateralAssetsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 bxmt:AssetSecuritizationMember bxmt:DebtFinancingMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember us-gaap:LoansReceivableMember 2020-01-01 2020-12-31 0001061630 srt:OfficeBuildingMember 2020-01-01 2020-12-31 0001061630 bxmt:HospitalityMember 2020-01-01 2020-12-31 0001061630 srt:MultifamilyMember 2020-01-01 2020-12-31 0001061630 bxmt:IndustrialMember 2020-01-01 2020-12-31 0001061630 srt:RetailSiteMember 2020-01-01 2020-12-31 0001061630 bxmt:LifeSciencesMember 2020-01-01 2020-12-31 0001061630 srt:OtherPropertyMember 2020-01-01 2020-12-31 0001061630 bxmt:UnitedStatesNortheastMember 2020-01-01 2020-12-31 0001061630 bxmt:UnitedStatesWestMember 2020-01-01 2020-12-31 0001061630 bxmt:UnitedStatesSoutheastMember 2020-01-01 2020-12-31 0001061630 bxmt:UnitedStatesMidwestMember 2020-01-01 2020-12-31 0001061630 bxmt:UnitedStatesSouthwestMember 2020-01-01 2020-12-31 0001061630 bxmt:UnitedStatesNorthwestMember 2020-01-01 2020-12-31 0001061630 country:US 2020-01-01 2020-12-31 0001061630 country:GB 2020-01-01 2020-12-31 0001061630 country:IE 2020-01-01 2020-12-31 0001061630 country:ES 2020-01-01 2020-12-31 0001061630 country:AU 2020-01-01 2020-12-31 0001061630 country:CA 2020-01-01 2020-12-31 0001061630 bxmt:OtherEuropeMember 2020-01-01 2020-12-31 0001061630 us-gaap:NonUsMember 2020-01-01 2020-12-31 0001061630 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateCapMember currency:CAD bxmt:CdorMember 2020-01-01 2020-12-31 0001061630 bxmt:AssetSpecificFinancingsMember 2020-01-01 2020-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:AssetSpecificFinancingsMember 2020-01-01 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:UnitedStateDollarLiborRateMember 2020-01-01 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:GBPLIBORMember srt:MinimumMember 2020-01-01 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:GBPLIBORMember srt:MaximumMember 2020-01-01 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:SterlingOvernightInterbankAverageRateMember srt:MinimumMember 2020-01-01 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:SterlingOvernightInterbankAverageRateMember srt:MaximumMember 2020-01-01 2020-12-31 0001061630 bxmt:CreditFacilitiesMember bxmt:SekMember 2020-01-01 2020-12-31 0001061630 bxmt:SeniorTermFacilityMember bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember 2019-12-31 0001061630 bxmt:BOneTermLoanMember bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember 2019-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingOneMember 2019-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingTwoMember 2019-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionDomesticMember 2019-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:GeographicDistributionDomesticMember 2019-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingFiveMember 2019-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2019-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingOneMember 2019-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:GeographicDistributionForeignMember 2019-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingThreeMember 2019-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFourMember 2019-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFiveMember 2019-12-31 0001061630 us-gaap:GeographicDistributionForeignMember 2019-12-31 0001061630 bxmt:RiskRatingOneMember bxmt:UniqueLoansMember 2019-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingTwoMember 2019-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingThreeMember 2019-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFourMember 2019-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFiveMember 2019-12-31 0001061630 bxmt:UniqueLoansMember 2019-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingOneMember 2019-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingTwoMember 2019-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingThreeMember 2019-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFourMember 2019-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFiveMember 2019-12-31 0001061630 bxmt:ImpairedLoansMember 2019-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingOneMember 2019-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:LoansReceivableMember 2019-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:LoansReceivableMember 2019-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:LoansReceivableMember 2019-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFiveMember 2019-12-31 0001061630 us-gaap:LoansReceivableMember 2019-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2019-12-31 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2019-12-31 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2019-12-31 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2019-12-31 0001061630 us-gaap:UnfundedLoanCommitmentMember 2019-12-31 0001061630 us-gaap:AccountingStandardsUpdate201613Member us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2020-01-01 0001061630 us-gaap:AccountingStandardsUpdate201613Member us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-01-01 0001061630 us-gaap:AccountingStandardsUpdate201613Member us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-01-01 0001061630 us-gaap:AccountingStandardsUpdate201613Member bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2020-01-01 0001061630 us-gaap:AccountingStandardsUpdate201613Member us-gaap:UnfundedLoanCommitmentMember 2020-01-01 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 0001061630 us-gaap:GeographicDistributionForeignMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 0001061630 bxmt:UniqueLoansMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 0001061630 bxmt:ImpairedLoansMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 0001061630 us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 0001061630 bxmt:Covid19PandemicMember 2020-01-01 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:SeniorTermFacilityMember 2020-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2020-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-03-31 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2020-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-03-31 0001061630 us-gaap:GeographicDistributionForeignMember 2020-03-31 0001061630 bxmt:UniqueLoansMember 2020-03-31 0001061630 bxmt:ImpairedLoansMember 2020-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2020-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2020-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2020-06-30 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2020-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2020-06-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2020-06-30 0001061630 us-gaap:GeographicDistributionForeignMember 2020-06-30 0001061630 bxmt:UniqueLoansMember 2020-06-30 0001061630 bxmt:ImpairedLoansMember 2020-06-30 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:SeniorTermFacilityMember 2021-03-31 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:BOneTermLoanMember 2021-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2021-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2021-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2021-03-31 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2021-03-31 0001061630 us-gaap:UnfundedLoanCommitmentMember 2021-03-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2021-03-31 0001061630 us-gaap:GeographicDistributionForeignMember 2021-03-31 0001061630 bxmt:UniqueLoansMember 2021-03-31 0001061630 bxmt:ImpairedLoansMember 2021-03-31 0001061630 bxmt:SeniorTermFacilityMember bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember 2021-06-30 0001061630 us-gaap:GeographicDistributionDomesticMember us-gaap:UnfundedLoanCommitmentMember 2021-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember us-gaap:GeographicDistributionForeignMember 2021-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember bxmt:UniqueLoansMember 2021-06-30 0001061630 bxmt:ImpairedLoansMember us-gaap:UnfundedLoanCommitmentMember 2021-06-30 0001061630 us-gaap:UnfundedLoanCommitmentMember 2021-06-30 0001061630 us-gaap:GeographicDistributionDomesticMember 2021-06-30 0001061630 us-gaap:GeographicDistributionForeignMember 2021-06-30 0001061630 bxmt:UniqueLoansMember 2021-06-30 0001061630 bxmt:ImpairedLoansMember 2021-06-30 0001061630 bxmt:ReductionInLoanSpreadAndExtensionInMaturityDateMember 2020-07-01 2020-07-01 0001061630 bxmt:RiskRatingOneMember us-gaap:GeographicDistributionDomesticMember 2016-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:GeographicDistributionDomesticMember 2016-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionDomesticMember 2016-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:GeographicDistributionDomesticMember 2016-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingFiveMember 2016-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2016-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:GeographicDistributionForeignMember 2016-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingTwoMember 2016-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingThreeMember 2016-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFourMember 2016-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFiveMember 2016-12-31 0001061630 us-gaap:GeographicDistributionForeignMember 2016-12-31 0001061630 bxmt:RiskRatingOneMember bxmt:UniqueLoansMember 2016-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingTwoMember 2016-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingThreeMember 2016-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFourMember 2016-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFiveMember 2016-12-31 0001061630 bxmt:UniqueLoansMember 2016-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingOneMember 2016-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingTwoMember 2016-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingThreeMember 2016-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFourMember 2016-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFiveMember 2016-12-31 0001061630 bxmt:ImpairedLoansMember 2016-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:LoansReceivableMember 2016-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:LoansReceivableMember 2016-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:LoansReceivableMember 2016-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:LoansReceivableMember 2016-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFiveMember 2016-12-31 0001061630 us-gaap:LoansReceivableMember 2016-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingOneMember 2017-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:GeographicDistributionDomesticMember 2017-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionDomesticMember 2017-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:GeographicDistributionDomesticMember 2017-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingFiveMember 2017-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2017-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:GeographicDistributionForeignMember 2017-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingTwoMember 2017-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionForeignMember 2017-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFourMember 2017-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFiveMember 2017-12-31 0001061630 us-gaap:GeographicDistributionForeignMember 2017-12-31 0001061630 bxmt:RiskRatingOneMember bxmt:UniqueLoansMember 2017-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingTwoMember 2017-12-31 0001061630 bxmt:RiskRatingThreeMember bxmt:UniqueLoansMember 2017-12-31 0001061630 bxmt:RiskRatingFourMember bxmt:UniqueLoansMember 2017-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFiveMember 2017-12-31 0001061630 bxmt:UniqueLoansMember 2017-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingOneMember 2017-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingTwoMember 2017-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingThreeMember 2017-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFourMember 2017-12-31 0001061630 bxmt:RiskRatingFiveMember bxmt:ImpairedLoansMember 2017-12-31 0001061630 bxmt:ImpairedLoansMember 2017-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:LoansReceivableMember 2017-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:LoansReceivableMember 2017-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:LoansReceivableMember 2017-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:LoansReceivableMember 2017-12-31 0001061630 bxmt:RiskRatingFiveMember us-gaap:LoansReceivableMember 2017-12-31 0001061630 us-gaap:LoansReceivableMember 2017-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:GeographicDistributionDomesticMember 2018-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:GeographicDistributionDomesticMember 2018-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionDomesticMember 2018-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:GeographicDistributionDomesticMember 2018-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember bxmt:RiskRatingFiveMember 2018-12-31 0001061630 us-gaap:GeographicDistributionDomesticMember 2018-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingOneMember 2018-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingTwoMember 2018-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:GeographicDistributionForeignMember 2018-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:GeographicDistributionForeignMember 2018-12-31 0001061630 us-gaap:GeographicDistributionForeignMember bxmt:RiskRatingFiveMember 2018-12-31 0001061630 us-gaap:GeographicDistributionForeignMember 2018-12-31 0001061630 bxmt:RiskRatingOneMember bxmt:UniqueLoansMember 2018-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingTwoMember 2018-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingThreeMember 2018-12-31 0001061630 bxmt:RiskRatingFourMember bxmt:UniqueLoansMember 2018-12-31 0001061630 bxmt:UniqueLoansMember bxmt:RiskRatingFiveMember 2018-12-31 0001061630 bxmt:UniqueLoansMember 2018-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingOneMember 2018-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingTwoMember 2018-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingThreeMember 2018-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFourMember 2018-12-31 0001061630 bxmt:ImpairedLoansMember bxmt:RiskRatingFiveMember 2018-12-31 0001061630 bxmt:ImpairedLoansMember 2018-12-31 0001061630 bxmt:RiskRatingOneMember us-gaap:LoansReceivableMember 2018-12-31 0001061630 bxmt:RiskRatingTwoMember us-gaap:LoansReceivableMember 2018-12-31 0001061630 bxmt:RiskRatingThreeMember us-gaap:LoansReceivableMember 2018-12-31 0001061630 bxmt:RiskRatingFourMember us-gaap:LoansReceivableMember 2018-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFiveMember 2018-12-31 0001061630 us-gaap:LoansReceivableMember 2018-12-31 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2020-04-01 2020-12-31 0001061630 us-gaap:RevolvingCreditFacilityMember 2020-04-01 2020-12-31 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember 2017-05-31 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2018-03-31 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2014-03-25 0001061630 us-gaap:CommonStockMember bxmt:AtTheMarketAgreementMember 2018-11-14 2018-11-14 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2018-09-30 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:SeniorTermFacilityMember 2019-09-30 0001061630 us-gaap:SubsequentEventMember bxmt:ThreePointSevenFiveSeniorSecuredNotesDueTwoThousandTwentySevenMember bxmt:BxmtAdvisoryLimitedLiabilityCompanyAndAffiliatesMember 2021-10-05 2021-10-05 0001061630 us-gaap:SubsequentEventMember bxmt:ThreePointSevenFiveSeniorSecuredNotesDueTwoThousandTwentySevenMember 2021-10-05 0001061630 bxmt:BOneTermLoanMember bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember 2019-06-30 0001061630 us-gaap:CommonStockMember 2020-09-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2020-09-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-09-30 0001061630 us-gaap:RetainedEarningsMember 2020-09-30 0001061630 us-gaap:ParentMember 2020-09-30 0001061630 us-gaap:NoncontrollingInterestMember 2020-09-30 0001061630 us-gaap:RestrictedStockMember 2020-12-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2021-09-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-09-30 0001061630 us-gaap:RetainedEarningsMember 2021-09-30 0001061630 us-gaap:ParentMember 2021-09-30 0001061630 us-gaap:NoncontrollingInterestMember 2021-09-30 0001061630 us-gaap:CommonStockMember 2020-12-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001061630 us-gaap:RetainedEarningsMember 2020-12-31 0001061630 us-gaap:ParentMember 2020-12-31 0001061630 us-gaap:NoncontrollingInterestMember 2020-12-31 0001061630 us-gaap:CommonStockMember 2021-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-03-31 0001061630 us-gaap:RetainedEarningsMember 2021-03-31 0001061630 us-gaap:ParentMember 2021-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2021-03-31 0001061630 us-gaap:CommonStockMember 2021-06-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-06-30 0001061630 us-gaap:RetainedEarningsMember 2021-06-30 0001061630 us-gaap:ParentMember 2021-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2021-06-30 0001061630 us-gaap:CommonStockMember 2019-12-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001061630 us-gaap:RetainedEarningsMember 2019-12-31 0001061630 us-gaap:ParentMember 2019-12-31 0001061630 us-gaap:NoncontrollingInterestMember 2019-12-31 0001061630 us-gaap:RetainedEarningsMember us-gaap:AccountingStandardsUpdate201613Member srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2019-12-31 0001061630 us-gaap:ParentMember us-gaap:AccountingStandardsUpdate201613Member srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2019-12-31 0001061630 us-gaap:NoncontrollingInterestMember us-gaap:AccountingStandardsUpdate201613Member srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2019-12-31 0001061630 us-gaap:AccountingStandardsUpdate201613Member srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2019-12-31 0001061630 us-gaap:CommonStockMember 2020-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001061630 us-gaap:RetainedEarningsMember 2020-03-31 0001061630 us-gaap:ParentMember 2020-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2020-03-31 0001061630 us-gaap:AccountingStandardsUpdate201613Member 2019-12-31 0001061630 us-gaap:CommonStockMember 2020-06-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0001061630 us-gaap:RetainedEarningsMember 2020-06-30 0001061630 us-gaap:ParentMember 2020-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2020-06-30 iso4217:USD xbrli:pure xbrli:shares utr:Year iso4217:GBP iso4217:EUR iso4217:CAD iso4217:SEK iso4217:AUD iso4217:USD xbrli:shares bxmt:SecurityLoan bxmt:Loans bxmt:Plans bxmt:Directors bxmt:DerivativeInstrument bxmt:Countries
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM
10-Q
 
 
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2021
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM
                    
TO
                    
Commission File Number:
001-14788
Blackstone Mortgage Trust, Inc.
(Exact name of Registrant as specified in its charter)
 
Maryland
 
94-6181186
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
345 Park Avenue, 24th Floor
New York, New York 10154
(Address of principal executive offices)(Zip Code)
(212)
655-0220
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
 
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
 
Trading
symbol(s)
 
Name of each exchange
on which registered
Class A common stock, par value $0.01 per share
 
BXMT
 
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes
 
☒    No  ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T
(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes
 
☒    No  ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule
12b-2
of the Exchange Act.
 
Large accelerated filer
 
  ☒
  
Accelerated filer
 
  ☐
Non-accelerated filer
 
  ☐
  
Smaller reporting company
 
  
     Emerging growth company  
  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule
12b-2
of the Exchange Act).    Yes  ☐    No  
The number of the registrant’s shares of class A common stock, par value $0.01 per share, outstanding as of October 20, 2021 was 157,080,951.
 
 
 

TABLE OF CONTENTS
 
PART I.
    
ITEM 1.
       3  
 
Consolidated Financial Statements (Unaudited):
  
       3  
    Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2021 and 2020    4  
    Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2021 and
2020
   5  
    Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2021 and 2020, June 30, 2021
and 2020, and September 30, 2021 and 2020
   6  
       8  
    Notes to Consolidated Financial Statements    10  
ITEM 2.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
   51  
ITEM 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK    80  
ITEM 4.
       83  
PART II.
    
ITEM 1.
       84  
ITEM 1A.
       84  
ITEM 2.   UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS    84  
ITEM 3.
       84  
ITEM 4.
       84  
ITEM 5.
       84  
ITEM 6.
       85  
     86  

TABLE OF CONTENTS
 
Website Disclosure
We use our website (www.blackstonemortgagetrust.com) as a channel of distribution of company information. The information we post through this channel may be deemed material. Accordingly, investors should monitor this channel, in addition to following our press releases, Securities and Exchange Commission, or SEC, filings and public conference calls, and webcasts. In addition, you may automatically receive email alerts and other information about Blackstone Mortgage Trust when you enroll your email address by visiting the “Contact Us &
E-mail
Alerts” section of our website at http://ir.blackstonemortgagetrust.com. The contents of our website and any alerts are not, however, a part of this report.

PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Blackstone Mortgage Trust, Inc.
Consolidated Balance Sheets (Unaudited)
(in thousands, except share data)
 
    
September 30,
   
December 31,
 
    
2021
   
2020
 
Assets
                
Cash and cash equivalents
   $ 211,180     $ 289,970  
Loans receivable
     20,406,466       16,572,715  
Current expected credit loss reserve
     (130,388     (173,549
    
 
 
   
 
 
 
Loans receivable, net
     20,276,078       16,399,166  
Other assets
     218,614       269,819  
    
 
 
   
 
 
 
Total Assets
   $ 20,705,872     $ 16,958,955  
    
 
 
   
 
 
 
     
Liabilities and Equity
                
Secured debt, net
   $ 11,170,330     $ 7,880,536  
Securitized debt obligations, net
     2,836,049       2,922,499  
Asset-specific debt, net
     320,895       391,269  
Term loans, net
     1,329,637       1,041,704  
Convertible notes, net
     618,985       616,389  
Other liabilities
     159,424       202,327  
    
 
 
   
 
 
 
Total Liabilities
     16,435,320       13,054,724  
    
 
 
   
 
 
 
     
Commitments and contingencies
  
 
—  
 
 
 
—  
 
     
Equity
                
Class A common stock, $0.01 par value, 400,000,000 shares authorized, 157,015,689 and 146,780,031 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively
     1,570       1,468  
Additional
paid-in
capital
     5,039,384       4,702,713  
Accumulated other comprehensive income
     9,874       11,170  
Accumulated deficit
     (814,278     (829,284
    
 
 
   
 
 
 
Total Blackstone Mortgage Trust, Inc. stockholders’ equity
     4,236,550       3,886,067  
Non-controlling
interests
     34,002       18,164  
    
 
 
   
 
 
 
Total Equity
     4,270,552       3,904,231  
    
 
 
   
 
 
 
Total Liabilities and Equity
   $ 20,705,872     $ 16,958,955  
    
 
 
   
 
 
 
 
Note: The consolidated balance sheets as of September 30, 2021 and December 31, 2020 include assets of consolidated variable interest entities, or VIEs, that can only be used to settle obligations of each respective VIE, and liabilities of consolidated VIEs for which creditors do not have recourse to Blackstone Mortgage Trust, Inc. As of September 30, 2021 and December 31, 2020, assets of the consolidated VIEs totaled $3.5 billion and $3.6 billion, respectively, and liabilities of the consolidated VIEs totaled $2.8 billion and $2.9 billion, respectively. Refer to Note 16 for additional discussion of the VIEs.
See accompanying notes to consolidated financial statements.
 
3

Blackstone Mortgage Trust, Inc.
Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share data)
 
                                 
    
Three Months Ended
   
Nine Months Ended
 
    
September 30,
   
September 30,
 
    
2021
   
2020
   
2021
   
2020
 
Income from loans and other investments
                                
Interest and related income
   $ 200,114     $ 193,939     $ 583,941     $ 590,797  
Less: Interest and related expenses
     82,690       78,978       243,413       268,070  
    
 
 
   
 
 
   
 
 
   
 
 
 
Income from loans and other investments, net
     117,424       114,961       340,528       322,727  
Other expenses
                                
Management and incentive fees
     19,342       18,985       60,094       58,758  
General and administrative expenses
     10,841       11,242       32,108       34,320  
    
 
 
   
 
 
   
 
 
   
 
 
 
Total other expenses
     30,183       30,227       92,202       93,078  
(Increase) decrease in current expected credit loss reserve
     (2,767     6,055       49,432       (173,466
    
 
 
   
 
 
   
 
 
   
 
 
 
Income before income taxes
     84,474       90,789       297,758       56,183  
Income tax provision
     70       20       346       192  
    
 
 
   
 
 
   
 
 
   
 
 
 
Net income
     84,404       90,769       297,412       55,991  
    
 
 
   
 
 
   
 
 
   
 
 
 
Net income attributable to
non-controlling
interests
     (647     (909     (2,158     (1,937
    
 
 
   
 
 
   
 
 
   
 
 
 
Net income attributable to Blackstone Mortgage Trust, Inc.
   $ 83,757     $ 89,860     $ 295,254     $ 54,054  
    
 
 
   
 
 
   
 
 
   
 
 
 
Net income per share of common stock basic and diluted
   $ 0.56     $ 0.61     $ 2.00     $ 0.39  
    
 
 
   
 
 
   
 
 
   
 
 
 
Weighted-average shares of common stock outstanding, basic and diluted
     149,214,819       146,484,651       147,971,737       140,157,620  
    
 
 
   
 
 
   
 
 
   
 
 
 
See accompanying notes to consolidated financial statements.
 
4

Blackstone Mortgage Trust, Inc.
Consolidated Statements of Comprehensive Income (Unaudited)
(in thousands)
 
                                 
    
Three Months Ended
   
Nine Months Ended
 
    
September 30,
   
September 30,
 
    
2021
   
2020
   
2021
   
2020
 
Net income
   $ 84,404     $ 90,769     $ 297,412     $ 55,991  
Other comprehensive income
                                
Unrealized (loss) gain on foreign currency translation
     (46,952     62,656       (66,356     14,488  
Realized and unrealized gain (loss) on derivative financial instruments
     46,083       (61,936     65,059       11,390  
    
 
 
   
 
 
   
 
 
   
 
 
 
Other comprehensive (loss) income
     (869     720       (1,297     25,878  
    
 
 
   
 
 
   
 
 
   
 
 
 
Comprehensive income
     83,535       91,489       296,115       81,869  
Comprehensive income attributable to
non-controlling
interests
     (647     (909     (2,158     (1,937
    
 
 
   
 
 
   
 
 
   
 
 
 
Comprehensive income attributable to Blackstone Mortgage Trust, Inc.
   $ 82,888     $ 90,580     $ 293,957     $ 79,932  
    
 
 
   
 
 
   
 
 
   
 
 
 
See accompanying notes to consolidated financial statements.
 
5

Blackstone Mortgage Trust, Inc.
Consolidated Statements of Changes in Equity (Unaudited)
(in thousands)
 
   
Blackstone Mortgage Trust, Inc.
             
   
Class A
   
Additional
   
Accumulated Other
                         
   
Common
   
Paid-In
   
Comprehensive
   
Accumulated
   
Stockholders’
   
Non-controlling
   
Total
 
   
Stock
   
Capital
   
Income
   
Deficit
   
Equity
   
Interests
   
Equity
 
Balance at December 31, 2020
  $ 1,468     $ 4,702,713     $ 11,170     $ (829,284   $ 3,886,067     $ 18,164     $ 3,904,231  
Shares of class A common stock issued, net
    2       —         —         —         2       —         2  
Restricted class A common stock earned
    —         7,958       —         —         7,958       —         7,958  
Dividends reinvested
    —         204       —         —         204       —         204  
Deferred directors’ compensation
    —         125       —         —         125       —         125  
Other comprehensive income
    —         —         114       —         114       —         114  
Net income
    —         —         —         79,902       79,902       638       80,540  
Dividends declared on common stock and deferred stock units, $0.62 per share
    —         —         —         (91,349     (91,349     —         (91,349
Contributions from
non-controlling
interests
    —         —         —         —         —         13,448       13,448  
Distributions to
non-controlling
interests
    —         —         —         —         —         (11,180     (11,180
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Balance at March 31, 2021
  $ 1,470     $ 4,711,000     $ 11,284     $ (840,731   $ 3,883,023     $ 21,070     $ 3,904,093  
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Restricted class A common stock earned
    —         7,895       —         —         7,895       —         7,895  
Dividends reinvested
    —         211       —         —         211       —         211  
Deferred directors’ compensation
    —         125       —         —         125       —         125  
Other comprehensive loss
    —         —         (541     —         (541     —         (541
Net income
    —         —         —         131,595       131,595       873       132,468  
Dividends declared on common stock and deferred stock units, $0.62 per share
    —         —         —         (91,347     (91,347     —         (91,347
Contributions from
non-controlling
interests
    —         —         —         —         —         14,745       14,745  
Distributions to
non-controlling
interests
    —         —         —         —         —         (10,694     (10,694
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Balance at June 30, 2021
  $ 1,470     $ 4,719,231     $ 10,743     $ (800,483   $ 3,930,961     $ 25,994     $ 3,956,955  
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Shares of class A common stock issued, net
    100       311,855       —         —         311,955       —         311,955  
Restricted class A common stock earned
    —         7,907       —         —         7,907       —         7,907  
Dividends reinvested
    —         218       —         —         218       —         218  
Deferred directors’ compensation
    —         173       —         —         173       —         173  
Other comprehensive loss
    —         —         (869     —         (869     —         (869
Net income
    —         —         —         83,757       83,757       647       84,404  
Dividends declared on common stock and deferred stock units, $0.62 per share
    —         —         —         (97,552     (97,552     —         (97,552
Contributions from
non-controlling
interests
    —         —         —         —         —         19,068       19,068  
Distributions to
non-controlling
interests
    —         —         —         —         —         (11,707     (11,707
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Balance at September 30, 2021
  $ 1,570     $ 5,039,384     $ 9,874     $ (814,278   $ 4,236,550     $ 34,002     $ 4,270,552  
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
See accompanying notes to consolidated financial statements.
 
6

Blackstone Mortgage Trust, Inc.
Consolidated Statements of Changes in Equity (Unaudited)
(in thousands)
 
   
Blackstone Mortgage Trust, Inc.
             
   
Class A
   
Additional
   
Accumulated Other
                         
   
Common
   
Paid-In
   
Comprehensive
   
Accumulated
   
Stockholders’
   
Non-controlling
   
Total
 
   
Stock
   
Capital
   
(Loss) Income
   
Deficit
   
Equity
   
Interests
   
Equity
 
Balance at December 31, 2019
  $ 1,350     $ 4,370,014     $ (16,233   $ (592,548   $ 3,762,583     $ 22,098     $ 3,784,681  
Adoption of ASU
2016-13,
see Note 2
    —         —         —         (17,565     (17,565     (85     (17,650
Shares of class A common stock issued, net
    4       —         —         —         4       —         4  
Restricted class A common stock earned
    —         8,550       —         —         8,550       —         8,550  
Dividends reinvested
    —         162       —         12       174       —         174  
Deferred directors’ compensation
    —         125       —         —         125       —         125  
Other comprehensive income
    —         —         34,481       —         34,481       —         34,481  
Net loss
    —         —         —         (53,350     (53,350     67       (53,283
Dividends declared on common stock and deferred stock units, $0.62 per share
    —         —         —         (84,082     (84,082     —         (84,082
Contributions from
non-controlling
interests
    —         —         —         —         —         8,108       8,108  
Distributions to
non-controlling
interests
    —         —         —         —         —         (6,681     (6,681
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Balance at March 31, 2020
  $ 1,354     $ 4,378,851     $ 18,248     $ (747,533   $ 3,650,920     $ 23,507     $ 3,674,427  
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Shares of class A common stock issued, net
    108       297,491       —         —         297,599       —         297,599  
Restricted class A common stock earned
    —         8,527       —         —         8,527       —         8,527  
Dividends reinvested
    —         165       —         13       178       —         178  
Deferred directors’ compensation
    —         125       —         —         125       —         125  
Other comprehensive loss
    —         —         (9,323     —         (9,323     —         (9,323
Net income
    —         —         —         17,544       17,544       961       18,505  
Dividends declared on common stock and deferred stock units, $0.62 per share
    —         —         —         (90,807     (90,807     —         (90,807
Distributions to
non-controlling
interests
    —         —         —         —         —         (3,447     (3,447
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Balance at June 30, 2020
  $ 1,462     $ 4,685,159     $ 8,925     $ (820,783   $ 3,874,763     $ 21,021     $ 3,895,784  
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Restricted class A common stock earned
    —         8,524       —         —         8,524       —         8,524  
Dividends reinvested
    —         174       —         14       188       —         188  
Deferred directors’ compensation
    —         125       —         —         125       —