Company Quick10K Filing
Quick10K
Blackstone Mortgage Trust
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$35.28 126 $4,430
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-07-26 Other Events, Exhibits
8-K 2019-07-23 Earnings, Exhibits
8-K 2019-06-25 Other Events, Exhibits
8-K 2019-06-19 Shareholder Vote
8-K 2019-04-23 Earnings, Exhibits
8-K 2019-04-11 Earnings
8-K 2019-02-12 Earnings, Exhibits
8-K 2018-11-14 Other Events, Exhibits
8-K 2018-10-23 Earnings, Exhibits
8-K 2018-07-31 Other Events, Exhibits
8-K 2018-07-24 Earnings, Exhibits
8-K 2018-06-20 Officers, Shareholder Vote, Exhibits
8-K 2018-03-27 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-03-02 Other Events
DIS Walt Disney 240,140
HLI Houlihan Lokey 3,220
HOMB Home Bancshares 3,190
FOLD Amicus Therapeutics 3,000
FF Futurefuel 608
MSON Misonix 175
NLNK Newlink Genetics 65
DHCP Ditech Holding 0
FHLBD Federal Home Loan Bank of Dallas 0
SEII Sharing Economy International 0
BXMT 2019-06-30
Part I. Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-10 d741100dex101.htm
EX-10 d741100dex102.htm
EX-10 d741100dex103.htm
EX-31 d741100dex311.htm
EX-31 d741100dex312.htm
EX-32 d741100dex321.htm
EX-32 d741100dex322.htm

Blackstone Mortgage Trust Earnings 2019-06-30

BXMT 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

BLACKSTONE MORTGAGE TRUST, INC.
false2019Q200010616302023-032023-032022-082022-08002022-022022-022022-04Dec. 31, 20292015 2017 2018--12-31BLACKSTONE MORTGAGE TRUST, INC.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 six months ended June 30, 2019, we recorded $8.4 million and $20.9 million, respectively, of interest expense related to our securitized debt obligations. During the three and six months ended June 30, 2018, we recorded $12.0 million and $23.1 million, respectively, of interest expense related to our securitized debt obligations.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.As of June 30, 2019, all of our loans financed by securitized debt obligations earned a floating rate of interest. As of December 31, 2018, 98% of our loans financed by securitized debt obligations earned a floating rate of interest. 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. All-in yield for the total portfolio assume applicable floating benchmark rates for weighted-average calculation. 0001061630 2019-01-01 2019-06-30 0001061630 2019-06-30 0001061630 2018-12-31 0001061630 2018-04-01 2018-06-30 0001061630 2019-04-01 2019-06-30 0001061630 2018-01-01 2018-06-30 0001061630 2019-01-01 2019-03-31 0001061630 2018-01-01 2018-03-31 0001061630 2017-04-30 0001061630 2018-01-01 2018-12-31 0001061630 2018-09-30 0001061630 2017-01-01 2017-12-31 0001061630 2013-05-07 2013-05-31 0001061630 2019-07-02 2019-07-15 0001061630 2019-06-01 2019-06-14 0001061630 2019-07-16 0001061630 2017-12-31 0001061630 2018-06-30 0001061630 2019-03-31 0001061630 2018-03-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingOneMember 2019-01-01 2019-06-30 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingTwoMember 2019-01-01 2019-06-30 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingThreeMember 2019-01-01 2019-06-30 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingFourMember 2019-01-01 2019-06-30 0001061630 us-gaap:LoansReceivableMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember us-gaap:CorporateJointVentureMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:BarclaysMember 2019-01-01 2019-06-30 0001061630 bxmt:AssetSpecificFinancingsMember 2019-01-01 2019-06-30 0001061630 bxmt:CollateralAssetsMember us-gaap:CollateralizedLoanObligationsMember 2019-01-01 2019-06-30 0001061630 bxmt:DebtFinancingMember us-gaap:CollateralizedLoanObligationsMember 2019-01-01 2019-06-30 0001061630 bxmt:CollateralAssetsMember bxmt:AssetSecuritizationMember 2019-01-01 2019-06-30 0001061630 bxmt:DebtFinancingMember bxmt:AssetSecuritizationMember 2019-01-01 2019-06-30 0001061630 bxmt:CollateralAssetsMember 2019-01-01 2019-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2019-01-01 2019-06-30 0001061630 bxmt:DebtFinancingMember 2019-01-01 2019-06-30 0001061630 bxmt:FourPointSevenFivePercentConvertibleSeniorNotesMember 2019-01-01 2019-06-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember 2019-01-01 2019-06-30 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2019-01-01 2019-06-30 0001061630 bxmt:CollateralAssetsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-06-30 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:AssetSpecificFinancingsMember 2019-01-01 2019-06-30 0001061630 us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001061630 srt:MultifamilyMember us-gaap:CorporateJointVentureMember 2019-01-01 2019-06-30 0001061630 us-gaap:CommonStockMember bxmt:AtTheMarketMember 2019-01-01 2019-06-30 0001061630 us-gaap:InterestRateContractMember 2019-01-01 2019-06-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2019-01-01 2019-06-30 0001061630 us-gaap:RestrictedStockMember 2019-01-01 2019-06-30 0001061630 us-gaap:NondesignatedMember 2019-01-01 2019-06-30 0001061630 us-gaap:NetInvestmentHedgingMember us-gaap:ForeignExchangeContractMember 2019-01-01 2019-06-30 0001061630 us-gaap:CashFlowHedgingMember us-gaap:InterestRateContractMember us-gaap:InterestExpenseMember 2019-01-01 2019-06-30 0001061630 bxmt:NetInvestmentMember us-gaap:ForeignExchangeContractMember us-gaap:InterestExpenseMember 2019-01-01 2019-06-30 0001061630 us-gaap:RevolvingCreditFacilityMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:BookValueNetMember 2019-01-01 2019-06-30 0001061630 bxmt:CollateralAssetsMember us-gaap:CollateralizedLoanObligationsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-06-30 0001061630 bxmt:DebtFinancingMember us-gaap:CollateralizedLoanObligationsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-06-30 0001061630 bxmt:CollateralAssetsMember bxmt:AssetSecuritizationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-06-30 0001061630 bxmt:DebtFinancingMember bxmt:AssetSecuritizationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-06-30 0001061630 bxmt:DebtFinancingMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-06-30 0001061630 bxmt:BoardOfDirectorsMember 2019-01-01 2019-06-30 0001061630 bxmt:AuditDirectorMember 2019-01-01 2019-06-30 0001061630 bxmt:AuditCommitteeMembersMember 2019-01-01 2019-06-30 0001061630 bxmt:CompensationAndCorporateGovernanceCommitteesMember 2019-01-01 2019-06-30 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:DeutscheBankMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:WellsFargoMember 2019-01-01 2019-06-30 0001061630 bxmt:GoldmanSachsMultifamilyJointVentureMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:JPMorganMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:BankOfAmericaMultifamilyJointVentureMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:MorganStanleyMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:MetlifeMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:BankOfAmericaMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:GoldmanSachsMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:CitibankMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:SocieteGeneraleMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:WeightedAverageAllInCostOfCreditMember 2019-01-01 2019-06-30 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember us-gaap:LoansReceivableMember 2019-01-01 2019-06-30 0001061630 bxmt:DeferredFeesAndOtherItemsMember 2019-01-01 2019-06-30 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001061630 bxmt:UnitedStatesMidwestMember 2019-01-01 2019-06-30 0001061630 bxmt:UnitedStatesNorthwestMember 2019-01-01 2019-06-30 0001061630 srt:OfficeBuildingMember 2019-01-01 2019-06-30 0001061630 srt:HotelMember 2019-01-01 2019-06-30 0001061630 srt:MultifamilyMember 2019-01-01 2019-06-30 0001061630 bxmt:IndustrialMember 2019-01-01 2019-06-30 0001061630 srt:RetailSiteMember 2019-01-01 2019-06-30 0001061630 bxmt:SelfStorageMember 2019-01-01 2019-06-30 0001061630 bxmt:CondominiumPropertyMember 2019-01-01 2019-06-30 0001061630 srt:OtherPropertyMember 2019-01-01 2019-06-30 0001061630 bxmt:UnitedStatesNortheastMember 2019-01-01 2019-06-30 0001061630 bxmt:UnitedStatesWestMember 2019-01-01 2019-06-30 0001061630 bxmt:UnitedStatesSoutheastMember 2019-01-01 2019-06-30 0001061630 bxmt:UnitedStatesSouthwestMember 2019-01-01 2019-06-30 0001061630 country:US 2019-01-01 2019-06-30 0001061630 country:GB 2019-01-01 2019-06-30 0001061630 country:ES 2019-01-01 2019-06-30 0001061630 us-gaap:NonUsMember 2019-01-01 2019-06-30 0001061630 country:AU 2019-01-01 2019-06-30 0001061630 country:DE 2019-01-01 2019-06-30 0001061630 country:CA 2019-01-01 2019-06-30 0001061630 country:BE 2019-01-01 2019-06-30 0001061630 us-gaap:InternalRevenueServiceIRSMember 2019-01-01 2019-06-30 0001061630 us-gaap:CommonStockMember bxmt:AtTheMarketAgreementMember 2019-01-01 2019-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember 2019-01-01 2019-06-30 0001061630 us-gaap:InterestRateCapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-06-30 0001061630 us-gaap:InterestRateCapMember currency:USD bxmt:UsdLiborMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-06-30 0001061630 us-gaap:InterestRateSwapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-06-30 0001061630 srt:MinimumMember 2019-01-01 2019-06-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2019-01-01 2019-06-30 0001061630 bxmt:UsdLiborMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:EURLIBORMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:GBPLIBORMember 2019-01-01 2019-06-30 0001061630 bxmt:BBSYMember bxmt:CreditFacilitiesMember 2019-01-01 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:CdorMember 2019-01-01 2019-06-30 0001061630 bxmt:DeutscheBankMember 2019-01-01 2019-06-30 0001061630 us-gaap:ParticipatingMortgagesMember 2019-01-01 2019-06-30 0001061630 us-gaap:SecuredDebtMember 2019-01-01 2019-06-30 0001061630 bxmt:SecuredTermLoanMember 2019-01-01 2019-06-30 0001061630 us-gaap:CommonStockMember 2019-06-30 0001061630 bxmt:DeutscheBankMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:WellsFargoMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:CitibankMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:BarclaysMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:JPMorganMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:BankOfAmericaMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:MorganStanleyMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:SocieteGeneraleMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:GoldmanSachsMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:MetlifeMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:GoldmanSachsMultifamilyJointVentureMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:BankOfAmericaMultifamilyJointVentureMember bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:CreditFacilitiesMember 2019-06-30 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2019-06-30 0001061630 bxmt:RiskRatingOneMember bxmt:BookValueNetMember 2019-06-30 0001061630 bxmt:RiskRatingTwoMember bxmt:BookValueNetMember 2019-06-30 0001061630 bxmt:RiskRatingThreeMember bxmt:BookValueNetMember 2019-06-30 0001061630 bxmt:BookValueNetMember 2019-06-30 0001061630 bxmt:RiskRatingFourMember bxmt:BookValueNetMember 2019-06-30 0001061630 bxmt:UsdLiborMember 2019-06-30 0001061630 bxmt:AssetSecuritizationMember bxmt:CollateralAssetsMember 2019-06-30 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2019-06-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2019-06-30 0001061630 bxmt:FourPointSevenFivePercentConvertibleSeniorNotesIssuedInMarchTwoThousandAndEighteenMember us-gaap:CommonStockMember 2019-06-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesIssuedInMayTwoThousandAndSeventeenMember us-gaap:CommonStockMember 2019-06-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember 2019-06-30 0001061630 bxmt:FourPointSevenFivePercentConvertibleSeniorNotesMember 2019-06-30 0001061630 bxmt:CollateralAssetsMember us-gaap:CollateralizedLoanObligationsMember 2019-06-30 0001061630 bxmt:DebtFinancingMember us-gaap:CollateralizedLoanObligationsMember 2019-06-30 0001061630 bxmt:DebtFinancingMember bxmt:AssetSecuritizationMember 2019-06-30 0001061630 bxmt:DebtFinancingMember 2019-06-30 0001061630 bxmt:CollateralAssetsMember 2019-06-30 0001061630 us-gaap:LoansReceivableMember 2019-06-30 0001061630 bxmt:RiskRatingFourMember 2019-06-30 0001061630 bxmt:RiskRatingOneMember 2019-06-30 0001061630 bxmt:RiskRatingTwoMember 2019-06-30 0001061630 bxmt:RiskRatingThreeMember 2019-06-30 0001061630 us-gaap:CorporateJointVentureMember srt:MultifamilyMember 2019-06-30 0001061630 us-gaap:SecuredDebtMember 2019-06-30 0001061630 bxmt:SecuredTermLoansMember 2019-06-30 0001061630 us-gaap:ConvertibleDebtMember 2019-06-30 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember us-gaap:CommonStockMember 2019-06-30 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember us-gaap:CommonStockMember 2019-06-30 0001061630 us-gaap:NondesignatedMember 2019-06-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember 2019-06-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateContractMember 2019-06-30 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember 2019-06-30 0001061630 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2019-06-30 0001061630 us-gaap:CommonStockMember bxmt:AtTheMarketMember 2019-06-30 0001061630 us-gaap:SecuredDebtMember 2019-06-30 0001061630 bxmt:AssetSpecificFinancingsMember 2019-06-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2019-06-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherAssetsMember 2019-06-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-06-30 0001061630 bxmt:ExpiredPlansMember 2019-06-30 0001061630 us-gaap:CommonClassAMember bxmt:StockIncentiveCurrentPlanMember 2019-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2019-06-30 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2019-06-30 0001061630 us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember bxmt:SecuritizedDebtObligationsNetMember 2019-06-30 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherLiabilitiesMember 2019-06-30 0001061630 us-gaap:RestrictedStockMember 2019-06-30 0001061630 bxmt:VestingPeriodTwoThousandNineteenMember us-gaap:RestrictedStockMember 2019-06-30 0001061630 bxmt:VestingPeriodTwoThousandTwentyMember us-gaap:RestrictedStockMember 2019-06-30 0001061630 bxmt:VestingPeriodTwoThousandTwentyOneMember us-gaap:RestrictedStockMember 2019-06-30 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2019-06-30 0001061630 bxmt:ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember currency:AUD us-gaap:NondesignatedMember 2019-06-30 0001061630 bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellAustraliianDollarMember currency:AUD us-gaap:NondesignatedMember 2019-06-30 0001061630 us-gaap:NondesignatedMember currency:CAD bxmt:ForeignExchangeContractBuyCanadaDollarSellUnitedStatesDollarMemberMember 2019-06-30 0001061630 us-gaap:NondesignatedMember currency:CAD bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellCanadaDollarMemberMember 2019-06-30 0001061630 bxmt:ForeignExchangeContractBuyGreatBritainPoundSellEuroMember currency:EUR us-gaap:NondesignatedMember 2019-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember 2019-06-30 0001061630 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-06-30 0001061630 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-06-30 0001061630 us-gaap:RevolvingCreditFacilityMember 2019-06-30 0001061630 currency:EUR bxmt:ForeignExchangeContractBuyGreatBritainPoundSellEuroMember 2019-06-30 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:CAD 2019-06-30 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:EUR 2019-06-30 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:GBP 2019-06-30 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:AUD 2019-06-30 0001061630 us-gaap:InterestRateCapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-06-30 0001061630 us-gaap:InterestRateCapMember currency:USD bxmt:UsdLiborMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-06-30 0001061630 us-gaap:InterestRateSwapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-06-30 0001061630 us-gaap:InternalRevenueServiceIRSMember 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:UsdLiborMember 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:EURLIBORMember 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:GBPLIBORMember 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:BBSYMember 2019-06-30 0001061630 bxmt:CreditFacilitiesMember bxmt:CdorMember 2019-06-30 0001061630 country:BE 2019-06-30 0001061630 country:CA 2019-06-30 0001061630 country:DE 2019-06-30 0001061630 country:AU 2019-06-30 0001061630 srt:OfficeBuildingMember 2019-06-30 0001061630 srt:HotelMember 2019-06-30 0001061630 srt:MultifamilyMember 2019-06-30 0001061630 bxmt:IndustrialMember 2019-06-30 0001061630 srt:RetailSiteMember 2019-06-30 0001061630 srt:OtherPropertyMember 2019-06-30 0001061630 bxmt:SelfStorageMember 2019-06-30 0001061630 bxmt:CondominiumPropertyMember 2019-06-30 0001061630 bxmt:UnitedStatesNortheastMember 2019-06-30 0001061630 bxmt:UnitedStatesWestMember 2019-06-30 0001061630 bxmt:UnitedStatesSoutheastMember 2019-06-30 0001061630 bxmt:UnitedStatesMidwestMember 2019-06-30 0001061630 bxmt:UnitedStatesSouthwestMember 2019-06-30 0001061630 bxmt:UnitedStatesNorthwestMember 2019-06-30 0001061630 country:US 2019-06-30 0001061630 country:GB 2019-06-30 0001061630 country:ES 2019-06-30 0001061630 us-gaap:NonUsMember 2019-06-30 0001061630 bxmt:BarclaysMember us-gaap:RevolvingCreditFacilityMember 2019-06-30 0001061630 us-gaap:CommonStockMember bxmt:AtTheMarketAgreementMember 2019-06-30 0001061630 bxmt:SeniorTermFacilityMember 2019-06-30 0001061630 srt:MinimumMember 2019-06-30 0001061630 srt:MaximumMember 2019-06-30 0001061630 bxmt:SecuredTermLoanMember 2019-06-30 0001061630 bxmt:DeutscheBankMember 2019-06-30 0001061630 bxmt:WellsFargoMember 2019-06-30 0001061630 bxmt:SecuredTermLoanMember 2019-06-30 0001061630 us-gaap:RevolvingCreditFacilityMember 2018-12-31 0001061630 us-gaap:ParticipatingMortgagesMember 2018-12-31 0001061630 bxmt:SeniorParticipationMember 2018-12-31 0001061630 bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:DeutscheBankMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:WellsFargoMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:JPMorganMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:BarclaysMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:CitibankMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:BankOfAmericaMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:MetlifeMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:MorganStanleyMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:SocieteGeneraleMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:GoldmanSachsMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:GoldmanSachsMultifamilyJointVentureMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:BankOfAmericaMultifamilyJointVentureMember bxmt:CreditFacilitiesMember 2018-12-31 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2018-12-31 0001061630 bxmt:RiskRatingOneMember bxmt:BookValueNetMember 2018-12-31 0001061630 bxmt:RiskRatingTwoMember bxmt:BookValueNetMember 2018-12-31 0001061630 bxmt:RiskRatingThreeMember bxmt:BookValueNetMember 2018-12-31 0001061630 bxmt:BookValueNetMember 2018-12-31 0001061630 bxmt:UsdLiborMember 2018-12-31 0001061630 bxmt:ConvertibleSeniorNoteMember 2018-12-31 0001061630 bxmt:CollateralAssetsMember us-gaap:CollateralizedLoanObligationsMember 2018-12-31 0001061630 bxmt:DebtFinancingMember us-gaap:CollateralizedLoanObligationsMember 2018-12-31 0001061630 bxmt:CollateralAssetsMember bxmt:AssetSecuritizationMember 2018-12-31 0001061630 bxmt:DebtFinancingMember bxmt:AssetSecuritizationMember 2018-12-31 0001061630 bxmt:CollateralAssetsMember 2018-12-31 0001061630 bxmt:DebtFinancingMember 2018-12-31 0001061630 us-gaap:LoansReceivableMember 2018-12-31 0001061630 bxmt:RiskRatingOneMember 2018-12-31 0001061630 bxmt:RiskRatingTwoMember 2018-12-31 0001061630 bxmt:RiskRatingThreeMember 2018-12-31 0001061630 us-gaap:CorporateJointVentureMember srt:MultifamilyMember 2018-12-31 0001061630 us-gaap:NondesignatedMember 2018-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember 2018-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateContractMember 2018-12-31 0001061630 us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001061630 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2018-12-31 0001061630 bxmt:LoanParticipationsSoldMember 2018-12-31 0001061630 us-gaap:SecuredDebtMember 2018-12-31 0001061630 bxmt:AssetSpecificFinancingsMember 2018-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2018-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherAssetsMember 2018-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2018-12-31 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2018-12-31 0001061630 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0001061630 us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember bxmt:SecuritizedDebtObligationsNetMember 2018-12-31 0001061630 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember 2018-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:SeniorParticipationMember 2018-12-31 0001061630 us-gaap:NondesignatedMember currency:EUR bxmt:ForeignExchangeContractBuyGreatBritainPoundSellEuroMember 2018-12-31 0001061630 us-gaap:NondesignatedMember currency:GBP bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember 2018-12-31 0001061630 us-gaap:NondesignatedMember currency:GBP bxmt:ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember 2018-12-31 0001061630 us-gaap:NondesignatedMember currency:AUD bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellAustraliianDollarMember 2018-12-31 0001061630 us-gaap:NondesignatedMember currency:AUD bxmt:ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember 2018-12-31 0001061630 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2018-12-31 0001061630 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2018-12-31 0001061630 currency:AUD bxmt:ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember 2018-12-31 0001061630 currency:AUD bxmt:ForeignExchangeContractBuyUnitedStatesDollarSellAustraliianDollarMember 2018-12-31 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:CAD 2018-12-31 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:AUD 2018-12-31 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:GBP 2018-12-31 0001061630 us-gaap:ShortMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember currency:EUR 2018-12-31 0001061630 us-gaap:InterestRateCapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001061630 us-gaap:InterestRateCapMember currency:USD bxmt:UsdLiborMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001061630 us-gaap:InterestRateSwapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2018-12-31 0001061630 srt:OfficeBuildingMember 2018-12-31 0001061630 bxmt:SelfStorageMember 2018-12-31 0001061630 srt:OtherPropertyMember 2018-12-31 0001061630 bxmt:UnitedStatesNortheastMember 2018-12-31 0001061630 bxmt:UnitedStatesWestMember 2018-12-31 0001061630 bxmt:UnitedStatesSoutheastMember 2018-12-31 0001061630 bxmt:UnitedStatesMidwestMember 2018-12-31 0001061630 bxmt:UnitedStatesSouthwestMember 2018-12-31 0001061630 bxmt:UnitedStatesNorthwestMember 2018-12-31 0001061630 country:US 2018-12-31 0001061630 country:ES 2018-12-31 0001061630 country:GB 2018-12-31 0001061630 country:CA 2018-12-31 0001061630 country:AU 2018-12-31 0001061630 country:BE 2018-12-31 0001061630 country:DE 2018-12-31 0001061630 country:NL 2018-12-31 0001061630 us-gaap:NonUsMember 2018-12-31 0001061630 srt:HotelMember 2018-12-31 0001061630 srt:MultifamilyMember 2018-12-31 0001061630 bxmt:IndustrialMember 2018-12-31 0001061630 srt:RetailSiteMember 2018-12-31 0001061630 bxmt:CondominiumPropertyMember 2018-12-31 0001061630 bxmt:WellsFargoMember 2018-12-31 0001061630 bxmt:JPMorganMember 2018-12-31 0001061630 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001061630 us-gaap:ParentMember 2019-04-01 2019-06-30 0001061630 srt:MultifamilyMember us-gaap:CorporateJointVentureMember 2019-04-01 2019-06-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2019-04-01 2019-06-30 0001061630 us-gaap:NondesignatedMember 2019-04-01 2019-06-30 0001061630 us-gaap:NetInvestmentHedgingMember us-gaap:ForeignExchangeContractMember 2019-04-01 2019-06-30 0001061630 us-gaap:CashFlowHedgingMember us-gaap:InterestRateContractMember us-gaap:InterestExpenseMember 2019-04-01 2019-06-30 0001061630 bxmt:NetInvestmentMember us-gaap:ForeignExchangeContractMember us-gaap:InterestExpenseMember 2019-04-01 2019-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2019-04-01 2019-06-30 0001061630 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2019-04-01 2019-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:CommonStockMember us-gaap:RestrictedStockMember 2019-04-01 2019-06-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2019-04-01 2019-06-30 0001061630 bxmt:BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember bxmt:SecuredTermLoanMember bxmt:ManagerMember 2019-04-01 2019-06-30 0001061630 us-gaap:ParticipatingMortgagesMember 2019-04-01 2019-06-30 0001061630 us-gaap:CommonStockMember 2018-04-01 2018-06-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2018-04-01 2018-06-30 0001061630 us-gaap:ParentMember 2018-04-01 2018-06-30 0001061630 srt:MultifamilyMember us-gaap:CorporateJointVentureMember 2018-04-01 2018-06-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2018-04-01 2018-06-30 0001061630 us-gaap:NondesignatedMember 2018-04-01 2018-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2018-04-01 2018-06-30 0001061630 us-gaap:RetainedEarningsMember 2018-04-01 2018-06-30 0001061630 us-gaap:CommonStockMember bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2018-04-01 2018-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-04-01 2018-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2018-04-01 2018-06-30 0001061630 us-gaap:CommonStockMember us-gaap:RestrictedStockMember bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2018-04-01 2018-06-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2018-04-01 2018-06-30 0001061630 us-gaap:ParticipatingMortgagesMember 2018-04-01 2018-06-30 0001061630 us-gaap:CommonStockMember 2018-01-01 2018-06-30 0001061630 srt:MultifamilyMember us-gaap:CorporateJointVentureMember 2018-01-01 2018-06-30 0001061630 bxmt:ConvertibleSeniorNoteMember 2018-01-01 2018-06-30 0001061630 us-gaap:NondesignatedMember 2018-01-01 2018-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2018-01-01 2018-06-30 0001061630 us-gaap:CommonStockMember bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2018-01-01 2018-06-30 0001061630 us-gaap:CommonStockMember bxmt:AtTheMarketAgreementMember 2018-01-01 2018-06-30 0001061630 us-gaap:CommonStockMember us-gaap:RestrictedStockMember bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember 2018-01-01 2018-06-30 0001061630 srt:AffiliatedEntityMember bxmt:ThirdPartyServicesMember 2018-01-01 2018-06-30 0001061630 us-gaap:ParticipatingMortgagesMember 2018-01-01 2018-06-30 0001061630 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001061630 us-gaap:ParentMember 2019-01-01 2019-03-31 0001061630 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001061630 us-gaap:CommonStockMember 2018-01-01 2018-03-31 0001061630 us-gaap:ParentMember 2018-01-01 2018-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-03-31 0001061630 us-gaap:RetainedEarningsMember 2018-01-01 2018-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2018-01-01 2018-03-31 0001061630 bxmt:WalkerAndDunlopMember 2017-04-30 0001061630 us-gaap:LoansReceivableMember 2018-01-01 2018-12-31 0001061630 bxmt:AssetSpecificFinancingsMember 2018-01-01 2018-12-31 0001061630 bxmt:SeniorParticipationMember 2018-01-01 2018-12-31 0001061630 bxmt:CollateralAssetsMember us-gaap:CollateralizedLoanObligationsMember 2018-01-01 2018-12-31 0001061630 bxmt:DebtFinancingMember us-gaap:CollateralizedLoanObligationsMember 2018-01-01 2018-12-31 0001061630 bxmt:CollateralAssetsMember bxmt:AssetSecuritizationMember 2018-01-01 2018-12-31 0001061630 bxmt:DebtFinancingMember bxmt:AssetSecuritizationMember 2018-01-01 2018-12-31 0001061630 bxmt:CollateralAssetsMember 2018-01-01 2018-12-31 0001061630 bxmt:DebtFinancingMember 2018-01-01 2018-12-31 0001061630 bxmt:CollateralAssetsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-01 2018-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:AssetSpecificFinancingsMember 2018-01-01 2018-12-31 0001061630 us-gaap:RevolvingCreditFacilityMember 2018-01-01 2018-12-31 0001061630 bxmt:CreditFacilitiesMember 2018-01-01 2018-12-31 0001061630 bxmt:DebtFinancingMember us-gaap:CollateralizedLoanObligationsMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-01 2018-12-31 0001061630 bxmt:CollateralAssetsMember bxmt:AssetSecuritizationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-01 2018-12-31 0001061630 bxmt:DebtFinancingMember bxmt:AssetSecuritizationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-01 2018-12-31 0001061630 bxmt:DebtFinancingMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-01 2018-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:CreditFacilitiesMember bxmt:WeightedAverageCashCouponMember 2018-01-01 2018-12-31 0001061630 us-gaap:LondonInterbankOfferedRateLIBORMember bxmt:CreditFacilitiesMember bxmt:WeightedAverageAllInCostOfCreditMember 2018-01-01 2018-12-31 0001061630 us-gaap:LoansReceivableMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-01 2018-12-31 0001061630 country:US 2018-01-01 2018-12-31 0001061630 srt:OfficeBuildingMember 2018-01-01 2018-12-31 0001061630 srt:HotelMember 2018-01-01 2018-12-31 0001061630 srt:MultifamilyMember 2018-01-01 2018-12-31 0001061630 bxmt:IndustrialMember 2018-01-01 2018-12-31 0001061630 srt:RetailSiteMember 2018-01-01 2018-12-31 0001061630 bxmt:CondominiumPropertyMember 2018-01-01 2018-12-31 0001061630 bxmt:SelfStorageMember 2018-01-01 2018-12-31 0001061630 srt:OtherPropertyMember 2018-01-01 2018-12-31 0001061630 bxmt:UnitedStatesNortheastMember 2018-01-01 2018-12-31 0001061630 bxmt:UnitedStatesWestMember 2018-01-01 2018-12-31 0001061630 bxmt:UnitedStatesSoutheastMember 2018-01-01 2018-12-31 0001061630 bxmt:UnitedStatesMidwestMember 2018-01-01 2018-12-31 0001061630 bxmt:UnitedStatesSouthwestMember 2018-01-01 2018-12-31 0001061630 bxmt:UnitedStatesNorthwestMember 2018-01-01 2018-12-31 0001061630 country:ES 2018-01-01 2018-12-31 0001061630 country:GB 2018-01-01 2018-12-31 0001061630 country:CA 2018-01-01 2018-12-31 0001061630 country:AU 2018-01-01 2018-12-31 0001061630 country:BE 2018-01-01 2018-12-31 0001061630 country:DE 2018-01-01 2018-12-31 0001061630 country:NL 2018-01-01 2018-12-31 0001061630 us-gaap:InterestRateCapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-12-31 0001061630 us-gaap:InterestRateCapMember currency:USD bxmt:UsdLiborMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-12-31 0001061630 us-gaap:InterestRateSwapMember currency:CAD bxmt:CdorMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-12-31 0001061630 bxmt:WellsFargoMember 2018-01-01 2018-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingOneMember 2018-07-01 2018-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingTwoMember 2018-07-01 2018-12-31 0001061630 us-gaap:LoansReceivableMember bxmt:RiskRatingThreeMember 2018-07-01 2018-12-31 0001061630 bxmt:FourPointThreeEightPercentConvertibleSeniorNotesMember 2017-05-31 0001061630 bxmt:FivePointTwoFivePercentConvertibleSeniorNotesMember 2018-03-31 0001061630 bxmt:SeniorTermFacilityMember 2018-03-31 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember us-gaap:SeniorLoansMember 2018-03-31 0001061630 bxmt:BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember bxmt:SeniorTermFacilityMember 2018-03-31 0001061630 us-gaap:InterestRateContractMember 2018-07-01 2019-06-30 0001061630 bxmt:DividendReinvestmentAndDirectStockPurchasePlanMember 2014-03-25 0001061630 bxmt:AtTheMarketAgreementMember us-gaap:CommonStockMember 2018-11-14 2018-11-14 0001061630 us-gaap:RestrictedStockMember 2018-06-29 0001061630 bxmt:TwoThousandAndEighteenSingleAssetSecuritizationMember 2018-09-30 0001061630 bxmt:SeniorTermFacilityMember 2019-03-31 0001061630 us-gaap:CommonStockMember 2018-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember bxmt:UnaffiliatedThirdPartyMember us-gaap:SeniorLoansMember 2018-06-30 0001061630 bxmt:BXMTAdvisorsLimitedLiabilityCompanyMember bxmt:UnaffiliatedThirdPartyMember us-gaap:PartiallyOwnedPropertiesMember us-gaap:SeniorLoansMember 2018-06-30 0001061630 us-gaap:LoansReceivableMember 2018-07-01 2018-09-30 0001061630 us-gaap:RestrictedStockMember 2018-12-31 0001061630 bxmt:DeferredFeesAndOtherItemsMember 2018-12-31 0001061630 bxmt:DeferredFeesAndOtherItemsMember 2019-06-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001061630 us-gaap:RetainedEarningsMember 2019-06-30 0001061630 us-gaap:ParentMember 2019-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2019-06-30 0001061630 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001061630 us-gaap:RetainedEarningsMember 2018-06-30 0001061630 us-gaap:ParentMember 2018-06-30 0001061630 us-gaap:NoncontrollingInterestMember 2018-06-30 0001061630 us-gaap:CommonStockMember 2018-12-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001061630 us-gaap:RetainedEarningsMember 2018-12-31 0001061630 us-gaap:ParentMember 2018-12-31 0001061630 us-gaap:NoncontrollingInterestMember 2018-12-31 0001061630 us-gaap:CommonStockMember 2019-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001061630 us-gaap:RetainedEarningsMember 2019-03-31 0001061630 us-gaap:ParentMember 2019-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2019-03-31 0001061630 us-gaap:CommonStockMember 2017-12-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001061630 us-gaap:RetainedEarningsMember 2017-12-31 0001061630 us-gaap:ParentMember 2017-12-31 0001061630 us-gaap:NoncontrollingInterestMember 2017-12-31 0001061630 us-gaap:CommonStockMember 2018-03-31 0001061630 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001061630 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001061630 us-gaap:RetainedEarningsMember 2018-03-31 0001061630 us-gaap:ParentMember 2018-03-31 0001061630 us-gaap:NoncontrollingInterestMember 2018-03-31 iso4217:USD xbrli:pure xbrli:shares iso4217:AUD iso4217:CAD iso4217:EUR iso4217:GBP iso4217:USD xbrli:shares bxmt:SecurityLoan bxmt:Facility bxmt:Loans bxmt:Plans bxmt:Directors bxmt:DerivativeInstrument
 
 
 
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
JUNE 30, 2019
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, 42nd 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 outstanding shares of class A common stock, par value $0.01 per share, outstanding as of July 16, 2019 was
134,288,584
.
 
 
 

 
 
Table of Contents
 
 
TABLE OF CONTENTS
             
PART I.
     
 
             
ITEM 1.
     
2
 
             
 
Consolidated Financial Statements (Unaudited):
   
 
             
     
2
 
             
     
3
 
             
     
4
 
             
     
5
 
             
     
7
 
             
     
9
 
             
ITEM 2.
     
42
 
             
ITEM 3.
     
61
 
             
ITEM 4.
     
64
 
             
PART II.
     
 
             
ITEM 1.
     
65
 
             
ITEM 1A.
     
65
 
             
ITEM 2.
     
65
 
             
ITEM 3.
     
65
 
             
ITEM 4.
     
65
 
             
ITEM 5.
     
65
 
             
ITEM 6.
     
66
 
           
68  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Blackstone Mortgage Trust, Inc.
Consolidated Balance Sheets (Unaudited)
(in thousands, except share data)
                 
 
June 30,
   
December 31,
 
 
2019
   
2018
 
Assets
   
     
 
Cash and cash equivalents
  $
80,584
    $
105,662
 
Loans receivable, net
   
14,280,919
     
14,191,200
 
Other assets
   
203,501
     
170,513
 
                 
Total Assets
  $
14,565,004
    $
14,467,375
 
                 
                 
Liabilities and Equity
   
     
 
Secured debt agreements, net
  $
8,257,370
    $
8,974,756
 
Loan participations sold, net
   
     
94,418
 
Securitized debt obligations, net
   
1,287,364
     
1,285,471
 
Secured term loan, net
   
491,598
     
—  
 
Convertible notes, net
   
611,472
     
609,911
 
Other liabilities
   
140,775
     
128,212
 
                 
Total Liabilities
   
10,788,579
     
11,092,768
 
                 
                 
Commitments and contingencies
   
     
—  
 
                 
Equity
   
     
 
Class A common stock, $0.01 par value, 200,000,000 shares authorized, 134,288,258 and 123,435,738 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively
   
1,343
     
1,234
 
Additional
paid-in
capital
   
4,354,571
     
3,966,540
 
Accumulated other comprehensive loss
   
(29,420
)    
(34,222
)
Accumulated deficit
   
(579,131
)    
(569,428
)
                 
Total Blackstone Mortgage Trust, Inc. stockholders’ equity
   
3,747,363
     
3,364,124
 
Non-controlling
interests
   
29,062
     
10,483
 
                 
Total Equity
   
3,776,425
     
3,374,607
 
                 
Total Liabilities and Equity
  $
     14,565,004
    $
     14,467,375
 
                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     
 
 
 
 
 
 
 
 
Note: The consolidated balance sheets as of June 30, 2019 and December 31, 2018 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 both June 30, 2019 and December 31, 2018, assets of the consolidated VIEs totaled $1.5 billion and liabilities of the consolidated VIEs totaled $1.3 billion. Refer to Note 16 for additional discussion of the VIEs.
See accompanying notes to consolidated financial statements.
 
 
2
 
 

 
Table of Contents
Blackstone Mortgage Trust, Inc.
Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share data)
                                 
 
Three Months Ended
June 30,
   
Six Months Ended
June 30,
 
 
2019
   
2018
   
2019
   
2018
 
Income from loans and other investments
   
     
     
     
 
Interest and related income
  $
223,369
    $
191,479
    $
448,128
    $
346,904
 
Less: Interest and related expenses
   
116,891
     
87,733
     
235,579
     
157,722
 
                                 
Income from loans and other investments, net
   
106,478
     
103,746
     
212,549
     
189,182
 
Other expenses
   
     
     
     
 
Management and incentive fees
   
20,984
     
22,388
     
40,774
     
37,880
 
General and administrative expenses
   
9,897
     
8,747
     
19,210
     
17,454
 
                                 
Total other expenses
   
30,881
     
31,135
     
59,984
     
55,334
 
                                 
Income before income taxes
   
75,597
     
72,611
     
152,565
     
133,848
 
Income tax provision
   
46
     
104
     
147
     
224
 
                                 
Net income
   
75,551
     
72,507
     
152,418
     
133,624
 
                                 
Net income attributable to
non-controlling
interests
   
(377
)    
(195
)    
(680
)    
(353
)
                                 
Net income attributable to Blackstone Mortgage Trust,  Inc.
  $
75,174
    $
72,312
    $
151,738
    $
133,271
 
                                 
Net income per share of common stock basic and diluted
  $
0.59
    $
0.66
    $
1.21
    $
1.23
 
                                 
Weighted-average shares of common stock outstanding, basic and diluted
   
  126,475,244
     
  109,069,078
     
   125,410,064
     
  108,735,193
 
                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
See accompanying notes to consolidated financial statements.
 
 
3
 

 
Table of Contents
 
Blackstone Mortgage Trust, Inc.
Consolidated Statements of Comprehensive Income (Unaudited)
(in thousands)
                                 
 
Three Months Ended
June 30,
   
Six Months Ended
June 30,
 
 
2019
   
2018
   
2019
   
2018
 
Net income
  $
75,551
    $
72,507
    $
152,418
    $
133,624
 
Other comprehensive income
   
     
     
     
 
Unrealized loss on foreign currency translation
   
(9,578
)    
(35,088
)    
(4,164
)    
(24,350
)
Realized and unrealized gain on derivative financial instruments
   
10,914
     
24,855
     
8,966
     
21,920
 
                                 
Other comprehensive income (loss)
   
1,336
     
(10,233
)    
4,802
     
(2,430
)
                                 
Comprehensive income
   
76,887
     
62,274
     
157,220
     
131,194
 
Comprehensive income attributable to
non-controlling
interests
   
(377
)    
(195
)    
(680
)    
(353
)
                                 
Comprehensive income attributable to Blackstone Mortgage Trust, Inc.
  $
     76,510
    $
     62,079
    $
     156,540
    $
     130,841
 
                                 
 
 
 
 
 
 
 
 
 
 
 
 
See accompanying notes to consolidated financial statements.
 
4
 

 
Blackstone Mortgage Trust, Inc.
Consolidated Statements of Changes in Equity (Unaudited)
(in thousands)
                                                         
 
Blackstone Mortgage Trust, Inc.
   
   
   
 
Class A
Common
Stock
   
Additional
Paid-In

Capital
   
Accumulated Other
Comprehensive
(Loss) Income
   
Accumulated
Deficit
   
Stockholders’
Equity
   
Non-controlling

Interests
   
Total
Equity
 
Balance at December 31, 2018
  $
1,234
    $
3,966,540
    $
(34,222
)   $
(569,428
)   $
3,364,124
    $
10,483
    $
3,374,607
 
Shares of class A common stock issued, net
   
23
     
65,358
     
—  
     
—  
     
65,381
     
—  
     
65,381
 
Restricted class A common stock earned
   
—  
     
7,639
     
—  
     
—  
     
7,639
     
—  
     
7,639
 
Dividends reinvested
   
—  
     
143
     
—  
     
(132
)    
11
     
—  
     
11
 
Deferred directors’ compensation
   
—  
     
125
     
—  
     
—  
     
125
     
—  
     
125
 
Other comprehensive income
   
—  
     
—  
     
3,466
     
—  
     
3,466
     
—  
     
3,466
 
Net income
   
—  
     
—  
     
—  
     
76,565
     
76,565
     
302
     
76,867
 
Dividends declared on common stock, $0.62 per share
   
—  
     
—  
     
—  
     
(77,913
)    
(77,913
)    
—  
     
(77,913
)
Contributions from
non-controlling
interests
   
—  
     
—  
     
—  
     
—  
     
—  
     
1,470
     
1,470
 
Distributions to
non-controlling
interests
   
—  
     
—  
     
—  
     
—  
     
—  
     
(64
)    
(64
)
                                                         
Balance at March 31, 2019
  $
1,257
    $
4,039,805
    $
(30,756
)   $
(570,908
)   $
3,439,398
    $
12,191
    $
3,451,589
 
                                                         
Shares of class A common stock issued, net
   
86
     
306,866
     
     
     
306,952
     
     
306,952
 
Restricted class A common stock earned
   
     
7,629
     
     
     
7,629
     
     
7,629
 
Dividends reinvested
   
     
146
     
     
(138
)    
8
     
     
8
 
Deferred directors’ compensation
   
     
125
     
     
     
125
     
     
125
 
Other comprehensive income
   
     
     
1,336
     
     
1,336
     
     
1,336
 
Net income
   
     
     
     
75,174
     
75,174
     
377
     
75,551
 
Dividends declared on common stock, $0.62 per share
   
     
     
     
(83,259
)    
(83,259
)    
     
(83,259
)
Contributions from
non-controlling
interests
   
     
     
     
     
     
17,158
     
17,158
 
Distributions to
non-controlling
interests
   
     
     
     
     
     
(664
)    
(664
)
                                                         
Balance at June 30, 2019
  $
   1,343
    $
   4,354,571
    $
(29,420
)   $
(579,131
)   $
   3,747,363
    $
29,062
    $
   3,776,425
 
                                                         
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Common
Stock
   
Additional 
Paid-In
Capital
   
Accumulated Other Comprehensive
(Loss) 
Income
   
Accumulated
Deficit
   
Stockholders’
Equity
   
Non-controlling
Interests
   
Total
Equity
 
Balance at December 31, 2017
  $
1,079
    $
3,506,861
    $
(29,706
)   $
(567,168
)   $
2,911,066
    $
6,340
    $
2,917,406
 
Shares of class A common stock issued, net
   
3
     
—  
     
—  
     
—  
     
3
     
—  
     
3
 
Restricted class A common stock earned
   
—  
     
6,848
     
—  
     
—  
     
6,848
     
—  
     
6,848
 
Issuance of convertible notes
   
—  
     
1,462
     
—  
     
—  
     
1,462
     
—  
     
1,462
 
Dividends reinvested
   
—  
     
122
     
—  
     
(108
)    
14
     
—  
     
14
 
Deferred directors’ compensation
   
—  
     
125
     
—  
     
—  
     
125
     
—  
     
125
 
Other comprehensive income
   
—  
     
—  
     
7,803
     
—  
     
7,803
     
—  
     
7,803
 
Net income
   
—  
     
—  
     
—  
     
60,958
     
60,958
     
158
     
61,116
 
Dividends declared on common stock, $0.62 per share
   
—  
     
—  
     
—  
     
(67,066
)    
(67,066
)    
—  
     
(67,066
)
Contributions from
non-controlling
interests
   
—  
     
—  
     
—  
     
—  
     
—  
     
375
     
375
 
Distributions to
non-controlling
interests
   
—  
     
—  
     
—  
     
—  
     
—  
     
(1,575
)    
(1,575
)
                                                         
Balance at March 31, 2018
  $
1,082
    $
3,515,418
    $
(21,903
)   $
(573,384
)   $
2,921,213
    $
5,298
    $
2,926,511
 
                                                         
Shares of class A common stock issued, net
   
32
     
102,463
     
—  
     
—  
     
102,495
     
—  
     
102,495
 
Restricted class A common stock earned
   
—  
     
6,653
     
—  
     
—  
     
6,653
     
—  
     
6,653
 
Conversion of convertible notes
   
—  
     
(20
   
—  
     
—  
     
(20
   
—  
     
(20
Dividends reinvested
   
—  
     
128
     
—  
     
(115
)    
13
     
—  
     
13
 
Deferred directors’ compensation
   
—  
     
125
     
—  
     
—  
     
125
     
—  
     
125
 
Other comprehensive income
   
—  
     
—  
     
(10,233
)