v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 452,526 $ 323,483
Loans receivable 18,069,134 19,047,518
Current expected credit loss reserve (284,440) (733,936)
Loans receivable, net 17,784,694 18,313,582
Owned real estate, net 1,134,975 588,185
Investments in unconsolidated entities (includes $111,010 and $0 at fair value as of December 31, 2025 and December 31, 2024, respectively) 217,488 4,452
Other assets 413,263 572,253
Total Assets 20,002,946 19,801,955
Liabilities and Equity    
Loan participations sold, net 0 100,064
Senior secured notes, net 784,876 771,035
Other liabilities 386,178 282,847
Total Liabilities 16,498,556 16,007,766
Commitments and contingencies (Note 22)
Equity    
Class A common stock, $0.01 par value, 400,000,000 shares authorized, 168,259,023 and 172,792,094 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 1,683 1,728
Additional paid-in capital 5,430,542 5,511,053
Accumulated other comprehensive income 12,113 8,268
Accumulated deficit (1,945,428) (1,733,741)
Total Blackstone Mortgage Trust, Inc. stockholders’ equity 3,498,910 3,787,308
Non-controlling interests 5,480 6,881
Total Equity 3,504,390 3,794,189
Total Liabilities and Equity 20,002,946 19,801,955
Secured debt, net    
Liabilities and Equity    
Long-term debt 10,117,292 9,696,334
Securitized debt obligations, net    
Liabilities and Equity    
Long-term debt 2,139,719 1,936,956
Asset-specific debt, net    
Liabilities and Equity    
Long-term debt 997,746 1,224,841
Secured term loans, net    
Liabilities and Equity    
Long-term debt 1,808,000 1,732,073
Convertible notes, net    
Liabilities and Equity    
Long-term debt $ 264,745 $ 263,616