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    <link:label id="lab_ecd_TradingArrByIndTable_label_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual [Table]</link:label>
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    <link:label id="lab_srt_HotelMember_019e22ad-fa66-7aea-8e11-c391aa256077_terseLabel_en-US" xlink:label="lab_srt_HotelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hospitality</link:label>
    <link:label id="lab_srt_HotelMember_label_en-US" xlink:label="lab_srt_HotelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hotel [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_HotelMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_HotelMember"/>
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    <link:label id="lab_ecd_TradingArrAxis_terseLabel_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangement:</link:label>
    <link:label id="lab_ecd_TradingArrAxis_label_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement [Axis]</link:label>
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    <link:label id="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember_019e22ad-fba0-7ab3-8de2-2769eed39bfd_terseLabel_en-US" xlink:label="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember_label_en-US" xlink:label="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BTIG, LLC, Gryphon Mutual Property Americas IC, Internal audit services, Lexington National Land Services, Blackstone Securities Partners L.P [Member]</link:label>
    <link:label id="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember_documentation_en-US" xlink:label="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BTIG, LLC, Gryphon Mutual Property Americas IC, Internal audit services, Lexington National Land Services, Blackstone Securities Partners L.P</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember" xlink:href="bxmt-20260630.xsd#bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember" xlink:to="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuritizedDebtObligationsYieldRate_019e22ad-fb09-7bc8-9eaf-c861524a2abe_verboseLabel_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationsYieldRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost, collateral assets</link:label>
    <link:label id="lab_bxmt_SecuritizedDebtObligationsYieldRate_label_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationsYieldRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securitized Debt Obligations Yield Rate</link:label>
    <link:label id="lab_bxmt_SecuritizedDebtObligationsYieldRate_documentation_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationsYieldRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securitized Debt Obligations Yield Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuritizedDebtObligationsYieldRate" xlink:href="bxmt-20260630.xsd#bxmt_SecuritizedDebtObligationsYieldRate"/>
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    <link:label id="lab_srt_MaximumMember_019e22ad-f99e-7957-9def-9b888bf3ee10_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_Security12bTitle_019e22ad-fa65-75bc-92db-694def65e1ce_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DeferredStockUnitsMember_019e22ad-fa66-72ac-8c94-3eb69b63b516_terseLabel_en-US" xlink:label="lab_bxmt_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Stock Units</link:label>
    <link:label id="lab_bxmt_DeferredStockUnitsMember_label_en-US" xlink:label="lab_bxmt_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Stock Units [Member]</link:label>
    <link:label id="lab_bxmt_DeferredStockUnitsMember_documentation_en-US" xlink:label="lab_bxmt_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DeferredStockUnitsMember" xlink:href="bxmt-20260630.xsd#bxmt_DeferredStockUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DeferredStockUnitsMember" xlink:to="lab_bxmt_DeferredStockUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_019e22ad-fa65-7907-978c-10387fb1e7b6_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable"/>
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    <link:label id="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable_019e22ad-fa65-796d-acae-df6af4b7a56a_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal collections, sales proceeds, and cost-recovery proceeds from loans receivable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale and Collection of Loans Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:to="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation, Amount</link:label>
    <link:label id="lab_ecd_AdjToCompAmt_label_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAmt" xlink:to="lab_ecd_AdjToCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateLineItems_019e22ad-fa65-7183-83af-bfc7d745a5c7_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:label id="lab_us-gaap_RealEstateLineItems_label_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateLineItems" xlink:to="lab_us-gaap_RealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingAbstract_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract" xlink:to="lab_us-gaap_SegmentReportingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_019e22ad-fba0-745c-a87f-63d46e98a3d1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense</link:label>
    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:to="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_019e22ad-fba0-7f18-a615-fe653dbaa896_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum guarantee</link:label>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantor Obligations, Maximum Exposure, Undiscounted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GuaranteeObligationsMaximumExposure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:to="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_019e22ad-fa65-77ba-8aa5-a95204a5c894_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Count, collateral assets</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_019e22ad-fa65-7200-8f6c-907eaff5f409_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count, collateral assets</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Number Of Loans</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCollateralAmountNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:to="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_019e22ad-fba0-7b53-b464-4105fbf6205f_negatedLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred fees on loans</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_019e22ad-fba0-71ff-b64c-9d21b2c63d13_verboseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization of fees and other items</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_label_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Deferred Loan Origination Fees, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfDeferredLoanOriginationFeesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:to="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_019e22ad-f99e-7a11-8f57-a7740f8bf858_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:to="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract_019e22ad-fb09-71d0-b024-ebae4eccd18d_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total loans receivable</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_019e22ad-fa66-724f-a722-272002ba6da4_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of restricted class A common stock, net (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized_019e22ad-f99e-7667-9da2-1256c02d1164_terseLabel_en-US" xlink:label="lab_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained interest with financing capital markets base amount</link:label>
    <link:label id="lab_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized_label_en-US" xlink:label="lab_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized" xlink:to="lab_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherEuropeMember_019e22ad-fa65-7df4-83b8-4a9765c81b8b_terseLabel_en-US" xlink:label="lab_bxmt_OtherEuropeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Europe</link:label>
    <link:label id="lab_bxmt_OtherEuropeMember_label_en-US" xlink:label="lab_bxmt_OtherEuropeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Europe [Member]</link:label>
    <link:label id="lab_bxmt_OtherEuropeMember_documentation_en-US" xlink:label="lab_bxmt_OtherEuropeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Europe.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherEuropeMember" xlink:href="bxmt-20260630.xsd#bxmt_OtherEuropeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherEuropeMember" xlink:to="lab_bxmt_OtherEuropeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_019e22ad-fb09-7a09-9ae1-1c746e63e389_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByMeasurementFrequencyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromLoansReceivable_019e22ad-fa65-7fce-b769-192b6f6a5fc9_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Principal fundings of loans receivable</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromLoansReceivable_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Loans Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForProceedsFromLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:to="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1_019e22ad-fb09-797d-a668-7a4ca90208f6_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Conversion price (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Convertible, Conversion Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentConvertibleConversionPrice1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:to="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OpenMarketDividendReinvestmentMember_019e22ad-fba0-7341-bc35-bcfafc840321_terseLabel_en-US" xlink:label="lab_bxmt_OpenMarketDividendReinvestmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Open Market, Dividend Reinvestment</link:label>
    <link:label id="lab_bxmt_OpenMarketDividendReinvestmentMember_label_en-US" xlink:label="lab_bxmt_OpenMarketDividendReinvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Open Market, Dividend Reinvestment [Member]</link:label>
    <link:label id="lab_bxmt_OpenMarketDividendReinvestmentMember_documentation_en-US" xlink:label="lab_bxmt_OpenMarketDividendReinvestmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Open Market, Dividend Reinvestment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OpenMarketDividendReinvestmentMember" xlink:href="bxmt-20260630.xsd#bxmt_OpenMarketDividendReinvestmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OpenMarketDividendReinvestmentMember" xlink:to="lab_bxmt_OpenMarketDividendReinvestmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ImpairedLoansMember_019e22ad-fba0-7998-b7dc-8e621eaca7e4_terseLabel_en-US" xlink:label="lab_bxmt_ImpairedLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impaired loans</link:label>
    <link:label id="lab_bxmt_ImpairedLoansMember_label_en-US" xlink:label="lab_bxmt_ImpairedLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impaired Loans [Member]</link:label>
    <link:label id="lab_bxmt_ImpairedLoansMember_documentation_en-US" xlink:label="lab_bxmt_ImpairedLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Impaired Loans [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ImpairedLoansMember" xlink:href="bxmt-20260630.xsd#bxmt_ImpairedLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ImpairedLoansMember" xlink:to="lab_bxmt_ImpairedLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_019e22ad-fa65-77ab-a1d1-96236ad812a8_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidatedEntitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesAxis" xlink:to="lab_srt_ConsolidatedEntitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_019e22ad-fb9f-7bd3-94c9-543bbc05fd79_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum_019e22ad-fb09-7388-877e-e60df87e1909_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, minimum tangible net worth</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Tangible Net Worth, Minimum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Tangible Net Worth, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:to="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_019e22ad-fa65-7346-99bc-d590fa9f2456_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell GBP Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_019e22ad-fa65-7d84-b80e-e03ee293f35a_netLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell GBP Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Great Britain Pound [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Great Britain Pound.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess_019e22ad-fba0-7e12-8f60-005c074ef6cd_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess_019e22ad-fba0-7684-9368-66f743095935_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess_019e22ad-fba0-7bf5-8d2a-21ff9d87a6b9_netLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Loan receivable, net, face amount</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_TwoPropertyThroughForeclosureMember_019e3bbc-77c7-700c-bd1b-e1c1fb4ff04f_terseLabel_en-US" xlink:label="lab_bxmt_TwoPropertyThroughForeclosureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Two Property Through Foreclosure</link:label>
    <link:label id="lab_bxmt_TwoPropertyThroughForeclosureMember_label_en-US" xlink:label="lab_bxmt_TwoPropertyThroughForeclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Property Through Foreclosure [Member]</link:label>
    <link:label id="lab_bxmt_TwoPropertyThroughForeclosureMember_documentation_en-US" xlink:label="lab_bxmt_TwoPropertyThroughForeclosureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two Property Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_TwoPropertyThroughForeclosureMember" xlink:href="bxmt-20260630.xsd#bxmt_TwoPropertyThroughForeclosureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_TwoPropertyThroughForeclosureMember" xlink:to="lab_bxmt_TwoPropertyThroughForeclosureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_019e22ad-fb09-7a2c-88c5-f4c1fc0e93bf_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transactions With Related Parties</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
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    <link:label id="lab_srt_ConsolidatedEntitiesDomain_019e22ad-f99e-7c9b-b50c-2e02e205d109_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Domain]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesDomain_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidatedEntitiesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesDomain" xlink:to="lab_srt_ConsolidatedEntitiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember_019e22ad-f99e-77e1-bf8e-ac8aa6761747_terseLabel_en-US" xlink:label="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021 FL4 Senior Collateralized Loan Obligation</link:label>
    <link:label id="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember_label_en-US" xlink:label="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2021 FL4 Senior Collateralized Loan Obligation [Member]</link:label>
    <link:label id="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember_documentation_en-US" xlink:label="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2021 FL4 Senior Collateralized Loan Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:href="bxmt-20260630.xsd#bxmt_A2021FL4SeniorCollateralizedLoanObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:to="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_019e22ad-fba0-7dcb-89b0-40e328b0c3cf_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToMinorityShareholders" xlink:to="lab_us-gaap_PaymentsToMinorityShareholders" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate_019e22ad-fba0-74c5-ac5c-0d50b824c61e_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from disposition of owned real estate</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Other Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfOtherRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleOfOtherRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfOtherRealEstate" xlink:to="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized_019e22ad-f99e-7d8d-9746-d27dac2cd34b_terseLabel_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common shares reserved for issuance (in shares)</link:label>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized_label_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Reinvestment And Direct Stock Purchase Plan, Shares Authorized</link:label>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized_documentation_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Reinvestment And Direct Stock Purchase Plan, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:href="bxmt-20260630.xsd#bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:to="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensation_019e22ad-fa66-7dcc-9282-d382fb195f61_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensation_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensation_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensation" xlink:href="bxmt-20260630.xsd#bxmt_AnnualDirectorCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AnnualDirectorCompensation" xlink:to="lab_bxmt_AnnualDirectorCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_019e22ad-fb09-7803-a167-031e2fdcd340_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_019e22ad-fa65-79a5-8a7d-435ad96b24cd_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, par value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_019e22ad-f99e-70c2-8bbe-53ab469ce48b_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionAxis" xlink:to="lab_us-gaap_AssetAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_019e22ad-f99e-7d33-90f9-0ff98697b3b1_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares of restricted class A common stock outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_019e22ad-f99e-793f-bf6a-884ec536ef19_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_019e22ad-f99e-7f7e-b887-6d5feaa528d1_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost_019e22ad-fba0-7fd1-94ec-5145fd28302b_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All-in cost</link:label>
    <link:label id="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost_label_en-US" xlink:label="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Interest Rate Stated Percentage Including Amortization Cost</link:label>
    <link:label id="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument Interest Rate Stated Percentage Including Amortization Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:to="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_019e22ad-fa66-7644-91df-1eebb90db012_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vest in 2026</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Tranche One [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationAwardTrancheOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating_019e22ad-fba0-786b-b51d-b7e3c7c1cb8a_totalLabel_en-US" xlink:label="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income from loans and other investments, net</link:label>
    <link:label id="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating_label_en-US" xlink:label="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest And Fee Income, Loans And Leases, Net Of Interest Expense, Operating</link:label>
    <link:label id="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating_documentation_en-US" xlink:label="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest And Fee Income, Loans And Leases, Net Of Interest Expense, Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:href="bxmt-20260630.xsd#bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:to="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCollateralAmount_019e22ad-fba0-7397-8124-394cfd7d295f_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCollateralAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCollateralAmount_019e22ad-fba0-7a2f-9969-701703b956a4_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCollateralAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Book Value, collateral assets</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCollateralAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCollateralAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCollateralAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCollateralAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCollateralAmount" xlink:to="lab_us-gaap_DebtInstrumentCollateralAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingAggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingAggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingAggtErrCompAmt" xlink:to="lab_ecd_OutstandingAggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets_019e22ad-fba0-755f-96e8-4171179d6bcd_terseLabel_en-US" xlink:label="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of assets in special servicing under CLOs</link:label>
    <link:label id="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets_label_en-US" xlink:label="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations, Number Of Assets</link:label>
    <link:label id="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets_documentation_en-US" xlink:label="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations, Number Of Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:href="bxmt-20260630.xsd#bxmt_CollateralizedLoanObligationsNumberOfAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:to="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingPercentage_019e22ad-f99e-75c4-bc7e-b26476dbe400_terseLabel_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of stock</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingPercentage_label_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding, Percentage</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingPercentage_documentation_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CommonStockSharesOutstandingPercentage" xlink:href="bxmt-20260630.xsd#bxmt_CommonStockSharesOutstandingPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CommonStockSharesOutstandingPercentage" xlink:to="lab_bxmt_CommonStockSharesOutstandingPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_019e22ad-fa66-776c-9331-2850a3d2c8b3_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of reporting segments</link:label>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Reportable Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfReportableSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfReportableSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfReportableSegments" xlink:to="lab_us-gaap_NumberOfReportableSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_019e22ad-fba0-79bd-85e2-24d1ba1b9c2c_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Derivative Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDerivativeInstrumentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_019e22ad-f99e-78e8-818c-faea535af059_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_019e22ad-f99e-7f30-96b9-3a6a4c655051_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_019e22ad-fba0-7668-ad21-6bb805b10909_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_019e22ad-fb09-7636-b1d7-830cac768af9_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_WalkerDunlopMember_019e22ad-fa65-7303-8d89-65045a38b372_terseLabel_en-US" xlink:label="lab_bxmt_WalkerDunlopMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Walker &amp; Dunlop</link:label>
    <link:label id="lab_bxmt_WalkerDunlopMember_label_en-US" xlink:label="lab_bxmt_WalkerDunlopMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Walker &amp; Dunlop [Member]</link:label>
    <link:label id="lab_bxmt_WalkerDunlopMember_documentation_en-US" xlink:label="lab_bxmt_WalkerDunlopMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Walker &amp; Dunlop.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_WalkerDunlopMember" xlink:href="bxmt-20260630.xsd#bxmt_WalkerDunlopMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_WalkerDunlopMember" xlink:to="lab_bxmt_WalkerDunlopMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReceivablesAbstract_019e22ad-fa66-7437-bdd9-9ec20233939c_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:label id="lab_us-gaap_ReceivablesAbstract_label_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ReceivablesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesAbstract" xlink:to="lab_us-gaap_ReceivablesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_019e22ad-fb09-71d2-82ad-74f2f9362b10_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain_019e22ad-fa65-7e2e-b09d-778ea01725ac_terseLabel_en-US" xlink:label="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Relationship to Entity [Domain]</link:label>
    <link:label id="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain_label_en-US" xlink:label="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title and Position [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff_019e22ad-fa65-7dab-b3d2-76f82e6be9fb_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year one</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_019e22ad-fba0-7a12-9e1d-cf29117bb404_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, after Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupTotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:to="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_019e22ad-fb9f-70cb-9366-49afe99b8827_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of capital from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_label_en-US" xlink:label="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution, Return of Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:to="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeniorLoansMember_019e22ad-f99e-757b-88be-1e181ca35d73_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Loans</link:label>
    <link:label id="lab_us-gaap_SeniorLoansMember_label_en-US" xlink:label="lab_us-gaap_SeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Loans [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorLoansMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeniorLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorLoansMember" xlink:to="lab_us-gaap_SeniorLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_019e22ad-fb09-71bd-8026-68e2860e7e82_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 2</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel2Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel2Member" xlink:to="lab_us-gaap_FairValueInputsLevel2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:to="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_019e22ad-f99e-79d4-bc74-96a80a0bc8a2_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_019e22ad-f99e-7492-a6ea-e154b43648db_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:to="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_019e22ad-fb09-79d9-836a-62d7d6f91582_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingOneMember_019e22ad-f99e-73e9-a43f-09a982113b89_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingOneMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">1</link:label>
    <link:label id="lab_bxmt_RiskRatingOneMember_019e22ad-f99e-7f2e-8944-7877003cebf5_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1</link:label>
    <link:label id="lab_bxmt_RiskRatingOneMember_label_en-US" xlink:label="lab_bxmt_RiskRatingOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, One [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingOneMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating One [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingOneMember" xlink:href="bxmt-20260630.xsd#bxmt_RiskRatingOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingOneMember" xlink:to="lab_bxmt_RiskRatingOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_country_US_019e22ad-f99e-7618-bae1-c00fdaee7ca4_terseLabel_en-US" xlink:label="lab_country_US" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
    <link:label id="lab_country_US_label_en-US" xlink:label="lab_country_US" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED STATES</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_US" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_US" xlink:to="lab_country_US" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration_019e22ad-f99e-700c-b6e4-bf9c5573d07a_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, variable interest rate, type [Extensible Enumeration]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:to="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_019e22ad-fb09-7fed-b325-d013e4a34a2a_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:to="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTable_019e22ad-fba0-7e75-a615-c6d18209c2c5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense_019e22ad-f99e-7f00-85e5-af31394b989d_totalLabel_en-US" xlink:label="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
    <link:label id="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense_label_en-US" xlink:label="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General And Administrative Expense, Excluding Non-Cash Compensation Expense</link:label>
    <link:label id="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense_documentation_en-US" xlink:label="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">General And Administrative Expense, Excluding Non-Cash Compensation Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:href="bxmt-20260630.xsd#bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:to="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_019e22ad-fba0-7bd5-a68d-0a8f0196cc37_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_019f11fa-c82f-7ff5-87a2-f7192d958997_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loan repayments, sales, and cost-recovery proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_label_en-US" xlink:label="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Before Allowance For Credit Loss, Fee And Loan In Process, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Before Allowance For Credit Loss, Fee And Loan In Process, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:to="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract_019e22ad-fb09-7dc3-b7db-3eb784fe1796_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), before Tax [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UseOfEstimates_019e22ad-f99e-7785-a448-c0918c1e64b9_terseLabel_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Use of Estimates</link:label>
    <link:label id="lab_us-gaap_UseOfEstimates_label_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UseOfEstimates" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UseOfEstimates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates" xlink:to="lab_us-gaap_UseOfEstimates" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019e22ad-fba0-7961-8777-f5506a907daa_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_019e22ad-fba0-7226-bfa8-842260f4f027_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Agency Multifamily Lending Partnership</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenueFromContractWithCustomerPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:to="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet_019e22ad-fba0-7e03-b59d-2e70c09ab09e_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost-recovery proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds, Net</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost_019e22ad-f99e-70cc-85ea-3df5c036a015_terseLabel_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. avg. all-in cost (percentage)</link:label>
    <link:label id="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost_label_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Weighted Average All-In Cost</link:label>
    <link:label id="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost_documentation_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Weighted Average All-In Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:href="bxmt-20260630.xsd#bxmt_LineOfCreditFacilityWeightedAverageAllInCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:to="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e22ad-fb9f-72a3-8b3d-c8b6e0741723_negatedLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Current expected credit loss reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e22ad-fb9f-7c7f-b582-bd1f99d633e6_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CECL reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e22ad-fb9f-752b-afd4-eaca1032f8b0_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">CECL reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e22ad-fb9f-7455-8fc3-ed3e4d27c474_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e22ad-fb9f-7e4e-9d8c-0bb6992ec56a_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_019e22ad-fa65-7ec5-bba8-fdf9c31a6db8_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NetLeaseJointVentureMember_019e22ad-fb09-7821-8a0f-459b454c3535_terseLabel_en-US" xlink:label="lab_bxmt_NetLeaseJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Lease Joint Venture</link:label>
    <link:label id="lab_bxmt_NetLeaseJointVentureMember_label_en-US" xlink:label="lab_bxmt_NetLeaseJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Lease Joint Venture [Member]</link:label>
    <link:label id="lab_bxmt_NetLeaseJointVentureMember_documentation_en-US" xlink:label="lab_bxmt_NetLeaseJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Lease Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NetLeaseJointVentureMember" xlink:href="bxmt-20260630.xsd#bxmt_NetLeaseJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NetLeaseJointVentureMember" xlink:to="lab_bxmt_NetLeaseJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_019e22ad-fa65-7e82-b455-d53867e6eb6a_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_us-gaap_PreferredStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_019e22ad-fb09-75b8-96af-e0c53ecf0ac9_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Principal balance</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_019e22ad-fb09-7efe-a172-c9d30e5ccfb5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face Value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_019e22ad-fa66-74df-bcb2-c7d12c3a1cf3_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All-in cost</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale_019e22ad-fba0-7ae6-a954-5b4bb3bc444e_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of REO assets classified as held for sale investment</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets Classified As Held-For-Sale</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets Classified As Held-For-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:to="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward_019e22ad-fb09-782b-a4d7-41e2320df273_terseLabel_en-US" xlink:label="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities [Roll Forward]</link:label>
    <link:label id="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward_label_en-US" xlink:label="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities [Roll Forward]</link:label>
    <link:label id="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward_documentation_en-US" xlink:label="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:href="bxmt-20260630.xsd#bxmt_InvestmentsInUnconsolidatedEntitiesRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:to="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_019e22ad-fb09-7137-8bf0-6718336e4216_periodStartLabel_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_019e22ad-fb09-7b53-8138-88038c3027e4_periodEndLabel_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_label_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Outstanding, Including Deferred Stock Units</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_documentation_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Outstanding, Including Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:href="bxmt-20260630.xsd#bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:to="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities_019e22ad-fa65-79a1-9b30-cc58d620ccc4_negatedLabel_en-US" xlink:label="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Collateral deposited under derivative agreements</link:label>
    <link:label id="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments For Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:label id="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities_documentation_en-US" xlink:label="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments For Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:href="bxmt-20260630.xsd#bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:to="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_country_SE_019e22ad-fa65-79eb-807e-b93248901492_terseLabel_en-US" xlink:label="lab_country_SE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sweden</link:label>
    <link:label id="lab_country_SE_label_en-US" xlink:label="lab_country_SE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SWEDEN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_SE" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_SE"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_SE" xlink:to="lab_country_SE" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedUsefulLife_019e22ad-fba0-7447-baaa-aa96766da955_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful lives (in years)</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedUsefulLife_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Useful Life</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedUsefulLife_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedUsefulLife" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Useful Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedUsefulLife" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedUsefulLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedUsefulLife" xlink:to="lab_bxmt_RealEstateOwnedUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_019e22ad-fb09-7c0d-a3e9-deaf504b1419_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityShellCompany_019e22ad-fba0-7e84-909a-76275c2dbe4d_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:label id="lab_dei_EntityShellCompany_label_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityShellCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany" xlink:to="lab_dei_EntityShellCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration_019e22ad-f99e-7520-87b7-a3c13136b5e4_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedged Liability, Statement of Financial Position [Extensible Enumeration]</link:label>
    <link:label id="lab_us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration_label_en-US" xlink:label="lab_us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedged Liability, Statement of Financial Position [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:to="lab_us-gaap_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent_019e22ad-fba0-7638-b4d0-b43b671247e7_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage to aggregate loans receivable portfolio</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Modified in Period, to Total Financing Receivables, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:to="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansDomain_019e22ad-fa65-700f-8360-265c8adce821_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number Of Loans [Domain]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansDomain_label_en-US" xlink:label="lab_bxmt_NumberOfLoansDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans [Domain]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansDomain_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansDomain" xlink:href="bxmt-20260630.xsd#bxmt_NumberOfLoansDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansDomain" xlink:to="lab_bxmt_NumberOfLoansDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations_019e22ad-fa66-7251-945f-7d1584ebe295_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of securitized debt obligations</link:label>
    <link:label id="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations_label_en-US" xlink:label="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Issuance of Collateralized Loan Obligations</link:label>
    <link:label id="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Issuance of Collateralized Loan Obligations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:href="bxmt-20260630.xsd#bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:to="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_019e22ad-fa65-7914-a391-1188cd0a468d_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income per share of common stock</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract" xlink:to="lab_us-gaap_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_019e22ad-fa65-7b90-8b27-1296d78ae292_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote</link:label>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_label_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupIssuersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:to="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Liabilities_019e22ad-fa66-7d02-92f6-19419a5513c0_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_019e22ad-fa66-72ef-888a-e637f0d0de61_terseLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_019e22ad-fb09-7e76-a5aa-ff395422cc1e_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_019e22ad-fba0-7259-a4cb-3f8e38d3bc6c_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Discount Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputDiscountRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:to="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward_019e22ad-fba0-7c24-aa20-2ff0dd1efd90_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NonUSLoansMember_019e22ad-fba0-7a81-a254-4d73165fe990_terseLabel_en-US" xlink:label="lab_bxmt_NonUSLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-U.S. Loans</link:label>
    <link:label id="lab_bxmt_NonUSLoansMember_label_en-US" xlink:label="lab_bxmt_NonUSLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non US Loans [Member]</link:label>
    <link:label id="lab_bxmt_NonUSLoansMember_documentation_en-US" xlink:label="lab_bxmt_NonUSLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non US Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NonUSLoansMember" xlink:href="bxmt-20260630.xsd#bxmt_NonUSLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NonUSLoansMember" xlink:to="lab_bxmt_NonUSLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_019e22ad-f99e-77f4-823a-f8e600c34abd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Interest Rate Derivatives [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid_019e22ad-f99e-7b18-987f-a7919314224c_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued capital expenditures on owned real estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Capital Expenditures Incurred But Not Yet Paid</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Capital Expenditures Incurred But Not Yet Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:to="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems_019e22ad-fa65-7a18-b617-4ff7a437db94_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Line Items]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureName_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureName_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureName" xlink:to="lab_ecd_CoSelectedMeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_019e22ad-f99e-738a-b354-112540ed46a6_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNameOfTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet_019e22ad-fb09-7b09-b4ce-ef53d7861a7f_negatedLabel_en-US" xlink:label="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Realized gain on derivative financial instruments, net</link:label>
    <link:label id="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet_label_en-US" xlink:label="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Realized Gains Losses On Derivative Financial Instruments Net</link:label>
    <link:label id="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet_documentation_en-US" xlink:label="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Realized Gains Losses On Derivative Financial Instruments Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" xlink:href="bxmt-20260630.xsd#bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" xlink:to="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_019e22ad-f99e-7ef9-8bf2-a37d8521a5af_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment in debt securities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_019e22ad-f99e-79f3-8fba-8049460d275f_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment in debt securities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Debt Securities, Available-for-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:to="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_019e22ad-fa65-762d-b67f-b29d6ca2c3bb_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:to="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_019e22ad-f99e-78b8-bbf2-593bdb0245b2_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed Rate</link:label>
    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_label_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Fixed Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFixedInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeFixedInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFixedInterestRate" xlink:to="lab_us-gaap_DerivativeFixedInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation_019e22ad-fb09-76c3-90af-bc60796d4ad1_terseLabel_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of directors not eligible for compensation</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation_label_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Board Of Directors, Number Of Members Not Eligible For Annual Compensation</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation_documentation_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Board Of Directors, Number Of Members Not Eligible For Annual Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation" xlink:href="bxmt-20260630.xsd#bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation" xlink:to="lab_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances_019e22ad-fba0-7fa1-828f-b7e859ffbf63_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, percentage of tangible assets on cash proceeds from equity issuances</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Percentage Of Net Cash Proceeds Of Future Equity Issuances</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Percentage Of Net Cash Proceeds Of Future Equity Issuances</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:to="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_019e22ad-fba0-7e34-a1e5-e456de8c9455_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year one</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityDomain_019e22ad-fa65-7938-a6fa-e17add19f90c_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityDomain_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain" xlink:to="lab_us-gaap_CreditFacilityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_019e22ad-fb09-75de-8811-f8a81c21ed19_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization of owned real estate</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization" xlink:to="lab_us-gaap_DepreciationAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_019e22ad-fa65-7cf6-930c-d328dbdcc0ff_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor_019e22ad-fa65-705f-afd0-7870a706686b_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average index rate floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor_label_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Index Rate Floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Index Rate Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableWeightedAverageIndexRateFloor"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:to="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember_019e22ad-fb09-787d-a7f1-79a9583376d0_terseLabel_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, Brio Real Estate (UK) Ltd And Brio Real Estate (AUS) Pty Ltd</link:label>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember_label_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, Brio Real Estate (UK) Ltd And Brio Real Estate (AUS) Pty Ltd [Member]</link:label>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember_documentation_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, Brio Real Estate (UK) Ltd And Brio Real Estate (AUS) Pty Ltd</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember" xlink:href="bxmt-20260630.xsd#bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember" xlink:to="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote</link:label>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_label_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:to="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_019e22ad-fba0-7e04-a0fa-8f479ba2093f_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_label_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:to="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Dividends_019e22ad-f99e-7175-8910-fc2f8bba71bb_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared on common stock and deferred stock units</link:label>
    <link:label id="lab_us-gaap_Dividends_019e22ad-f99e-72eb-a341-45709f0af038_totalLabel_en-US" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Dividends, total</link:label>
    <link:label id="lab_us-gaap_Dividends_label_en-US" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Dividends" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Dividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Dividends" xlink:to="lab_us-gaap_Dividends" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuredCreditFacilityMember_019e22ad-fb09-721c-80b2-4d5ed45257e0_terseLabel_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured credit facilities</link:label>
    <link:label id="lab_bxmt_SecuredCreditFacilityMember_label_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Credit Facility [Member]</link:label>
    <link:label id="lab_bxmt_SecuredCreditFacilityMember_documentation_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured Credit Facility</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuredCreditFacilityMember" xlink:href="bxmt-20260630.xsd#bxmt_SecuredCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuredCreditFacilityMember" xlink:to="lab_bxmt_SecuredCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLossCarryforwards_019e22ad-fba0-7d5d-8fa5-f29f74abe73c_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net operating losses carried forward</link:label>
    <link:label id="lab_us-gaap_OperatingLossCarryforwards_label_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLossCarryforwards" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLossCarryforwards"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLossCarryforwards" xlink:to="lab_us-gaap_OperatingLossCarryforwards" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsShareBasedCompensation_019e22ad-fa65-7532-a5e9-180b7ec78c58_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred stock unit dividends declared</link:label>
    <link:label id="lab_us-gaap_DividendsShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_DividendsShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend, Share-Based Payment Arrangement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsShareBasedCompensation" xlink:to="lab_us-gaap_DividendsShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_019e22ad-fba0-72b4-b2c4-85122edb5b88_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends declared, not paid</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_019e22ad-fba0-7f62-a5c9-b2ec52f5cde0_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued dividends payable</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_019e22ad-fa66-7af4-be05-d5a2cf637d0b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember_019e22ad-fb09-7262-9ae6-c6a730ab127e_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell CHF Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Swiss Franc [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Swiss Franc</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_B8TermLoanDue2032Member_019e22ad-f99e-795c-8dee-1ff8152e5c81_terseLabel_en-US" xlink:label="lab_bxmt_B8TermLoanDue2032Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-8 Term Loan</link:label>
    <link:label id="lab_bxmt_B8TermLoanDue2032Member_label_en-US" xlink:label="lab_bxmt_B8TermLoanDue2032Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-8 Term Loan Due 2032 [Member]</link:label>
    <link:label id="lab_bxmt_B8TermLoanDue2032Member_documentation_en-US" xlink:label="lab_bxmt_B8TermLoanDue2032Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-8 Term Loan Due 2032</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B8TermLoanDue2032Member" xlink:href="bxmt-20260630.xsd#bxmt_B8TermLoanDue2032Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B8TermLoanDue2032Member" xlink:to="lab_bxmt_B8TermLoanDue2032Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandImprovementsMember_019e22ad-fba0-770c-ba84-0972302c9f94_terseLabel_en-US" xlink:label="lab_us-gaap_LandImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land Improvements</link:label>
    <link:label id="lab_us-gaap_LandImprovementsMember_label_en-US" xlink:label="lab_us-gaap_LandImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land Improvements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandImprovementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LandImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandImprovementsMember" xlink:to="lab_us-gaap_LandImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherGeneralAndAdministrativeExpense_019e22ad-fb09-7a88-bf6f-5c3137675f5c_terseLabel_en-US" xlink:label="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating and other costs</link:label>
    <link:label id="lab_us-gaap_OtherGeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherGeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined</link:label>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_label_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgPredtrmndFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgPredtrmndFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgPredtrmndFlag" xlink:to="lab_ecd_AwardTmgPredtrmndFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote</link:label>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToPeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToPeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToPeoCompFnTextBlock" xlink:to="lab_ecd_AdjToPeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_019e22ad-fa65-719a-a49b-8c6bdff0420b_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 1</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel1Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel1Member" xlink:to="lab_us-gaap_FairValueInputsLevel1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_019e22ad-fba0-7d4e-a6b9-7c8055e5cc53_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Convertible, Conversion Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentConvertibleConversionRatio1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:to="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_019e22ad-fba0-7497-b49a-ffa648233c0f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements</link:label>
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_label_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_019e22ad-fa65-76a1-a5d1-dcd22a68148b_terseLabel_en-US" xlink:label="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted class A common stock earned</link:label>
    <link:label id="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:to="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1_019e22ad-fb09-7caa-a381-a2ebe530051b_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value basis adjustment on hedged items</link:label>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1_label_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:to="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_019e22ad-fba0-7c60-b87f-28d458117561_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_019e22ad-f99e-7a81-b4f0-73691dc8efe5_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, fair value</link:label>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_label_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtFairValue" xlink:to="lab_us-gaap_LongTermDebtFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember_019e22ad-f99e-7565-9757-4ca0f3af23a1_terseLabel_en-US" xlink:label="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Blackstone-Advised Investment Vehicles, or the Funds</link:label>
    <link:label id="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember_label_en-US" xlink:label="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Blackstone-Advised Investment Vehicles, or the Funds [Member]</link:label>
    <link:label id="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember_documentation_en-US" xlink:label="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Blackstone-Advised Investment Vehicles, or the Funds.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:href="bxmt-20260630.xsd#bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:to="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VestingDomain_019e22ad-f99e-7e13-a3a0-960fe2c108e2_terseLabel_en-US" xlink:label="lab_us-gaap_VestingDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:label id="lab_us-gaap_VestingDomain_label_en-US" xlink:label="lab_us-gaap_VestingDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VestingDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VestingDomain"/>
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    <link:label id="lab_bxmt_PerformPropertiesLLCMember_019e22ad-fa66-7e99-af91-9f38f6b52c70_terseLabel_en-US" xlink:label="lab_bxmt_PerformPropertiesLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Perform Properties, LLC</link:label>
    <link:label id="lab_bxmt_PerformPropertiesLLCMember_label_en-US" xlink:label="lab_bxmt_PerformPropertiesLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Perform Properties, LLC [Member]</link:label>
    <link:label id="lab_bxmt_PerformPropertiesLLCMember_documentation_en-US" xlink:label="lab_bxmt_PerformPropertiesLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Perform Properties, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PerformPropertiesLLCMember" xlink:href="bxmt-20260630.xsd#bxmt_PerformPropertiesLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PerformPropertiesLLCMember" xlink:to="lab_bxmt_PerformPropertiesLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_019e22ad-fb09-79d6-9ea8-8b645a251fbc_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:to="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock_019e22ad-fba0-7594-8f5b-98ec86f1c797_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Below Market Lease, Future Amortization Income</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Future Amortization Income [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:to="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_019e22ad-fb09-7361-8d2f-ed3a676fddce_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueDisclosuresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_019e22ad-fba0-76a0-88a1-fffb357356b1_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_019e22ad-fa66-7acf-87e6-e2c5a3b2a239_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total (loss) gain on derivative instruments</link:label>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_label_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:to="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_019e22ad-fa66-7691-8fda-05d898a08bd4_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid on class A common stock</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation_019e22ad-fa65-7fec-99cf-5b5e69ce2af1_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: accumulated amortization</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:href="bxmt-20260630.xsd#bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation"/>
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    <link:label id="lab_ecd_TrdArrExpirationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expiration Date</link:label>
    <link:label id="lab_ecd_TrdArrExpirationDate_label_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Expiration Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrExpirationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrExpirationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrExpirationDate" xlink:to="lab_ecd_TrdArrExpirationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield_019e22ad-f99e-7b0f-a770-bd617b7980fa_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average all-in yield (percentage)</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield_label_en-US" xlink:label="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Basis Spread on Variable Rate, Weighted Average All-In Yield</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Basis Spread on Variable Rate, Weighted Average All-In Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:to="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_019e22ad-fb09-7cdd-9cd4-ba5dcd9e66c4_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (decrease) increase in cash and cash equivalents</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect"/>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_019e22ad-fa65-7a58-91c3-26385d67e4a7_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
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    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis_019e22ad-fb09-765a-967a-f796815d6551_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Axis]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis"/>
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    <link:label id="lab_us-gaap_RealEstateTable_019e22ad-fb09-7736-8b95-6614bf995a4b_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:label id="lab_us-gaap_RealEstateTable_label_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateTable" xlink:to="lab_us-gaap_RealEstateTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MultifamilyPropertyLocatedSanAntonioMember_019e22ad-f99e-7e2c-b2ef-442c4485131c_terseLabel_en-US" xlink:label="lab_bxmt_MultifamilyPropertyLocatedSanAntonioMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily Property Located San Antonio</link:label>
    <link:label id="lab_bxmt_MultifamilyPropertyLocatedSanAntonioMember_label_en-US" xlink:label="lab_bxmt_MultifamilyPropertyLocatedSanAntonioMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily Property Located San Antonio [Member]</link:label>
    <link:label id="lab_bxmt_MultifamilyPropertyLocatedSanAntonioMember_documentation_en-US" xlink:label="lab_bxmt_MultifamilyPropertyLocatedSanAntonioMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Multifamily Property Located San Antonio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MultifamilyPropertyLocatedSanAntonioMember" xlink:href="bxmt-20260630.xsd#bxmt_MultifamilyPropertyLocatedSanAntonioMember"/>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_019e22ad-fa65-7f38-a143-4e36f74803b8_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents, fair value</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
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    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e22ad-fb09-7d22-95a2-c3101f467d60_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e22ad-fb09-765a-865b-62a05b897e0f_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e22ad-fb09-7843-ab4c-703b2a548c05_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e22ad-fb09-7f40-9fc2-799a6e423310_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BuildingMember_019e22ad-fb09-7aec-be17-cc277ac2f935_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building</link:label>
    <link:label id="lab_us-gaap_BuildingMember_label_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BuildingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingMember" xlink:to="lab_us-gaap_BuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AffiliatedEntityMember_019e22ad-fba0-7526-bdbc-c122c957b296_terseLabel_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliates of Manager</link:label>
    <link:label id="lab_srt_AffiliatedEntityMember_label_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affiliated Entity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AffiliatedEntityMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_AffiliatedEntityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AffiliatedEntityMember" xlink:to="lab_srt_AffiliatedEntityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtPnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:to="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeTable_019e22ad-f99e-7aea-8118-cf565e664558_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeTable_label_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeTable" xlink:to="lab_us-gaap_DerivativeTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_019e22ad-fb09-7420-9434-224d8e19c8db_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Income and Expenses [Abstract]</link:label>
    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Income and Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIncomeAndExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherIncomeAndExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncomeAndExpensesAbstract" xlink:to="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification_019e22ad-f99e-7924-bcb7-c1af6fc47899_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Interest rate decrease</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification_label_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Interest Rate Increase (Decrease) From Modification</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Interest Rate Increase (Decrease) From Modification</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:to="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommercialRealEstateMember_019e22ad-fa65-76cb-8ff2-0df7fdc11e7a_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialRealEstateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate</link:label>
    <link:label id="lab_us-gaap_CommercialRealEstateMember_label_en-US" xlink:label="lab_us-gaap_CommercialRealEstateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Real Estate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialRealEstateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommercialRealEstateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialRealEstateMember" xlink:to="lab_us-gaap_CommercialRealEstateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_019e22ad-f99d-7faf-80b2-ab2ca774d8cf_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable0.01To1.00FloorMember_019e22ad-fb09-7556-9f15-73a76a2143da_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">0.01% to 1.00% floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.01To1.00FloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.01% To 1.00% Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.01To1.00FloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.01% To 1.00% Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivable0.01To1.00FloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:to="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_019e22ad-fba0-73d1-b06d-7388f036e8c6_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized compensation cost relating to nonvested share-based compensation</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_019e22ad-fba0-75d8-a93a-ea5d9525c413_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LendingOneMember_019e22ad-fa65-77ae-a19f-0bf641d3483c_terseLabel_en-US" xlink:label="lab_bxmt_LendingOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LendingOne, LLC</link:label>
    <link:label id="lab_bxmt_LendingOneMember_label_en-US" xlink:label="lab_bxmt_LendingOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LendingOne [Member]</link:label>
    <link:label id="lab_bxmt_LendingOneMember_documentation_en-US" xlink:label="lab_bxmt_LendingOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">LendingOne</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LendingOneMember" xlink:href="bxmt-20260630.xsd#bxmt_LendingOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LendingOneMember" xlink:to="lab_bxmt_LendingOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_019e22ad-f99e-77f4-90c9-9d850082192e_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average price per share (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Per Share Weighted Average Price of Shares Purchased</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestRateSwapMember_019e22ad-fa65-71a8-8715-3c4869260a3a_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateSwapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swap</link:label>
    <link:label id="lab_us-gaap_InterestRateSwapMember_label_en-US" xlink:label="lab_us-gaap_InterestRateSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateSwapMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestRateSwapMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateSwapMember" xlink:to="lab_us-gaap_InterestRateSwapMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember_019e22ad-fb09-7d79-8ac2-7c281886f5a5_terseLabel_en-US" xlink:label="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CT Investment Management Co., LLC</link:label>
    <link:label id="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember_label_en-US" xlink:label="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CT Investment Management Co., LLC ("CTIMCO") [Member]</link:label>
    <link:label id="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember_documentation_en-US" xlink:label="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">CT Investment Management Co., LLC ("CTIMCO")</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:href="bxmt-20260630.xsd#bxmt_CTInvestmentManagementCo.LLCCTIMCOMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:to="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_019e22ad-f99e-72a7-a425-c81c097c6709_terseLabel_en-US" xlink:label="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Principal Contractual Obligations</link:label>
    <link:label id="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_label_en-US" xlink:label="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual Obligation, Fiscal Year Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:to="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_019e22ad-f99e-7b9a-9026-20174616f9c7_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFinanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredFinanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet" xlink:to="lab_us-gaap_DeferredFinanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_label_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoActuallyPaidCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoActuallyPaidCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoActuallyPaidCompAmt" xlink:to="lab_ecd_PeoActuallyPaidCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredDebtMember_019e22ad-fb09-71c6-8722-3648d97a1e68_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured debt, net</link:label>
    <link:label id="lab_us-gaap_SecuredDebtMember_label_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtMember" xlink:to="lab_us-gaap_SecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember_019e22ad-f99e-7edc-abf7-08b1637b0945_terseLabel_en-US" xlink:label="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR), All-In Cost</link:label>
    <link:label id="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember_label_en-US" xlink:label="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR), All-In Cost [Member]</link:label>
    <link:label id="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember_documentation_en-US" xlink:label="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR), All-In Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:href="bxmt-20260630.xsd#bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:to="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2029Member_019e22ad-f99e-7e7e-8951-4fa1e46a80a3_terseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">December 2024</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2029Member_label_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Notes, Due 2029 [Member]</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2029Member_documentation_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Secured Notes, Due 2029</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorSecuredNotesDue2029Member" xlink:href="bxmt-20260630.xsd#bxmt_SeniorSecuredNotesDue2029Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorSecuredNotesDue2029Member" xlink:to="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_EUR_019e22ad-f99d-7b09-9de4-36ac16ff1373_terseLabel_en-US" xlink:label="lab_currency_EUR" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EUR</link:label>
    <link:label id="lab_currency_EUR_label_en-US" xlink:label="lab_currency_EUR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro Member Countries, Euro</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_EUR" xlink:href="https://xbrl.sec.gov/currency/2026/currency-2026.xsd#currency_EUR"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_EUR" xlink:to="lab_currency_EUR" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_019e22ad-fa65-7bcb-9a3b-214ebed237bf_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment in unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_019e22ad-fa65-7201-a01d-3b95ac530922_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment in unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:to="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_019e22ad-fba0-7f49-87b9-46f8c68939c5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A12LoansMember_019e22ad-fb09-7247-b066-133d621f6c88_terseLabel_en-US" xlink:label="lab_bxmt_A12LoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">12 Loans</link:label>
    <link:label id="lab_bxmt_A12LoansMember_label_en-US" xlink:label="lab_bxmt_A12LoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">12 Loans [Member]</link:label>
    <link:label id="lab_bxmt_A12LoansMember_documentation_en-US" xlink:label="lab_bxmt_A12LoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">12 Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A12LoansMember" xlink:href="bxmt-20260630.xsd#bxmt_A12LoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A12LoansMember" xlink:to="lab_bxmt_A12LoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation_019e22ad-fa65-70cd-b45e-ecfc5bc29e47_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on foreign currency translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquity_019e22ad-fb09-7eb1-8da9-443415c24f32_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Blackstone Mortgage Trust, Inc. stockholders&#8217; equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_019e22ad-f99e-7338-9b28-f4240f41f447_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateNamePropertyTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:to="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities_019e22ad-fb9f-7f5f-9a33-66fac5f827d8_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of collateral deposited under derivative agreements</link:label>
    <link:label id="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:label id="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:href="bxmt-20260630.xsd#bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:to="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsAbstract_019e22ad-f99e-79d4-b942-2d2356ee84c5_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_019e22ad-f99e-77b4-9ea5-3840d200e2da_netLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_019e22ad-f99e-7fe6-94cf-3ce1b53703b9_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingTwoMember_019e22ad-f99e-7129-bed9-872b323c6391_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2</link:label>
    <link:label id="lab_bxmt_RiskRatingTwoMember_019e22ad-f99e-722b-b428-9ea8a6ec2c10_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2</link:label>
    <link:label id="lab_bxmt_RiskRatingTwoMember_label_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, Two [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingTwoMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating Two [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingTwoMember" xlink:href="bxmt-20260630.xsd#bxmt_RiskRatingTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingTwoMember" xlink:to="lab_bxmt_RiskRatingTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentDeferralMember_019e22ad-fba0-7ae6-9443-145553df20ee_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payment Deferral</link:label>
    <link:label id="lab_us-gaap_PaymentDeferralMember_label_en-US" xlink:label="lab_us-gaap_PaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment Deferral [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentDeferralMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentDeferralMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentDeferralMember" xlink:to="lab_us-gaap_PaymentDeferralMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_019e22ad-f99e-71a9-b69a-23693dda9e94_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Net Book Value, Total Loan Exposure and Net Loan Exposure of Loans Receivable Based on Internal Risk Ratings and Credit Quality Indicators</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable Credit Quality Indicators [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:to="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfessionalFees_019e22ad-f99e-77de-9ef4-1cc1adc93bbe_terseLabel_en-US" xlink:label="lab_us-gaap_ProfessionalFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Professional services</link:label>
    <link:label id="lab_us-gaap_ProfessionalFees_label_en-US" xlink:label="lab_us-gaap_ProfessionalFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Professional Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalFees" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfessionalFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfessionalFees" xlink:to="lab_us-gaap_ProfessionalFees" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_019e22ad-fa65-7ee9-93f9-0a1e8bf9e73f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Nonrecurring</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Nonrecurring [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsNonrecurringMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingPoliciesProcLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTradingPoliciesProcLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:to="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensationCash_019e22ad-fba0-7638-b7c0-27886f83c49a_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation paid in cash</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationCash_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Cash</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationCash_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationCash" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensationCash" xlink:href="bxmt-20260630.xsd#bxmt_AnnualDirectorCompensationCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AnnualDirectorCompensationCash" xlink:to="lab_bxmt_AnnualDirectorCompensationCash" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_019e22ad-f99e-7ff2-8786-4cad5b858ae8_verboseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net Loan Exposure</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_019e22ad-f99e-7c6d-9bab-413ebb4d6592_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net loan exposure</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Net Loans Exposure Amount</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Net Loans Exposure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfOperatingSegments_019e22ad-f99e-784c-b5fc-2b45e2d5845e_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of operating segments</link:label>
    <link:label id="lab_us-gaap_NumberOfOperatingSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Operating Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfOperatingSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfOperatingSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfOperatingSegments" xlink:to="lab_us-gaap_NumberOfOperatingSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod_019e22ad-fb09-79ed-a9ca-a6f1afe5cc35_terseLabel_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management core earnings fee measurement period (in years)</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod_label_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Measurement Period</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod_documentation_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Measurement Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:href="bxmt-20260630.xsd#bxmt_ManagementFeeCoreEarningsMeasurementPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:to="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_019e22ad-fa65-76f4-8c45-9f28aa1bad03_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture1Member_019e22ad-fb9f-7f3f-9d0a-a43534acdac1_terseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 1</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture1Member_label_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 1 [Member]</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture1Member_documentation_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BankLoanPortfolioJointVenture1Member" xlink:href="bxmt-20260630.xsd#bxmt_BankLoanPortfolioJointVenture1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BankLoanPortfolioJointVenture1Member" xlink:to="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_019e22ad-fa66-7cd4-a2fe-742dbf4e4687_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityAbstract_019e22ad-fa65-7407-a0e1-7881accab63d_terseLabel_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_EquityAbstract_label_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityAbstract" xlink:to="lab_us-gaap_EquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year</link:label>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_label_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:to="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits_019e22ad-f99e-7e85-94c9-bf49df4fcc75_terseLabel_en-US" xlink:label="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of deferred stock units (in shares)</link:label>
    <link:label id="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits_label_en-US" xlink:label="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Deferred Stock Units</link:label>
    <link:label id="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits_documentation_en-US" xlink:label="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:href="bxmt-20260630.xsd#bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:to="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuritizedDebtObligationMember_019e22ad-f99e-7f87-b766-f2cfd0901746_terseLabel_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securitized debt obligations, net</link:label>
    <link:label id="lab_bxmt_SecuritizedDebtObligationMember_label_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securitized Debt Obligation [Member]</link:label>
    <link:label id="lab_bxmt_SecuritizedDebtObligationMember_documentation_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securitized Debt Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuritizedDebtObligationMember" xlink:href="bxmt-20260630.xsd#bxmt_SecuritizedDebtObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuritizedDebtObligationMember" xlink:to="lab_bxmt_SecuritizedDebtObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember_019e22ad-fa66-7097-95eb-a6d4c40cd4e8_terseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Fair Value</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Fair Value [Member]</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:href="bxmt-20260630.xsd#bxmt_EquityMethodInvestmentsCarriedAtFairValueMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:to="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_019e22ad-fba0-7764-8427-d634ceab5887_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipAxis_019e22ad-fba0-7ef0-a14a-9d6ebd106cbe_terseLabel_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:label id="lab_srt_OwnershipAxis_label_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipAxis" xlink:to="lab_srt_OwnershipAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_019e22ad-fa66-744d-af17-a35bbd8665c0_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019e22ad-f99e-7dbc-8497-98aebbed1645_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_019e22ad-fa66-7e4e-a05e-524126781b9b_terseLabel_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Designated Hedges</link:label>
    <link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_019e22ad-fa66-71ff-8f47-368503f57956_verboseLabel_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivatives designated as hedging instruments</link:label>
    <link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_label_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Designated as Hedging Instrument [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DesignatedAsHedgingInstrumentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:to="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_USLoansMember_019e22ad-fba0-7a25-9e7b-190d34e2de67_terseLabel_en-US" xlink:label="lab_bxmt_USLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">US Loans</link:label>
    <link:label id="lab_bxmt_USLoansMember_label_en-US" xlink:label="lab_bxmt_USLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Loans [Member]</link:label>
    <link:label id="lab_bxmt_USLoansMember_documentation_en-US" xlink:label="lab_bxmt_USLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">US Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_USLoansMember" xlink:href="bxmt-20260630.xsd#bxmt_USLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_USLoansMember" xlink:to="lab_bxmt_USLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax_019e22ad-f99e-787a-ada3-a81f64f35be3_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange contracts</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), Reclassification, before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_019e22ad-fb09-7c9e-a168-9f2e320b6cef_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate and all-in cost</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableRateDomain_019e22ad-fb9f-70cd-902b-7b06caa2b975_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_us-gaap_VariableRateDomain_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableRateDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableRateDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateDomain" xlink:to="lab_us-gaap_VariableRateDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_TwoRealEstateOwnedAssetsMember_019f605f-3e03-715a-92a7-4e5c6e53aa7a_terseLabel_en-US" xlink:label="lab_bxmt_TwoRealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Two Real Estate Owned Asset</link:label>
    <link:label id="lab_bxmt_TwoRealEstateOwnedAssetsMember_label_en-US" xlink:label="lab_bxmt_TwoRealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Real Estate Owned Assets [Member]</link:label>
    <link:label id="lab_bxmt_TwoRealEstateOwnedAssetsMember_documentation_en-US" xlink:label="lab_bxmt_TwoRealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two Real Estate Owned Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_TwoRealEstateOwnedAssetsMember" xlink:href="bxmt-20260630.xsd#bxmt_TwoRealEstateOwnedAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_TwoRealEstateOwnedAssetsMember" xlink:to="lab_bxmt_TwoRealEstateOwnedAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedStockMember_019e22ad-fa65-71c9-9f08-e3eee3abbd8b_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Class A Common Stock</link:label>
    <link:label id="lab_us-gaap_RestrictedStockMember_label_en-US" xlink:label="lab_us-gaap_RestrictedStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockMember" xlink:to="lab_us-gaap_RestrictedStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_019e22ad-fba0-7043-9422-00c777515d0c_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss)</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AOCI Attributable to Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllIndividualsMember_terseLabel_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Individuals</link:label>
    <link:label id="lab_ecd_AllIndividualsMember_label_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Individuals [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllIndividualsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllIndividualsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllIndividualsMember" xlink:to="lab_ecd_AllIndividualsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_B9TermLoanDue2030Member_019e22ad-fba0-7176-be98-54b86aafe83f_terseLabel_en-US" xlink:label="lab_bxmt_B9TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-9 Term Loan</link:label>
    <link:label id="lab_bxmt_B9TermLoanDue2030Member_label_en-US" xlink:label="lab_bxmt_B9TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-9 Term Loan Due 2030 [Member]</link:label>
    <link:label id="lab_bxmt_B9TermLoanDue2030Member_documentation_en-US" xlink:label="lab_bxmt_B9TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-9 Term Loan Due 2030</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B9TermLoanDue2030Member" xlink:href="bxmt-20260630.xsd#bxmt_B9TermLoanDue2030Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B9TermLoanDue2030Member" xlink:to="lab_bxmt_B9TermLoanDue2030Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_019e22ad-fb09-79c8-9622-510e95b4c9f1_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized compensation cost expected to be recognized over weighted average period (in years)</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManagementAndIncentiveFeesExpense_019e22ad-fb09-70ef-8440-e9588ec7e114_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementAndIncentiveFeesExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management and incentive fees</link:label>
    <link:label id="lab_us-gaap_ManagementAndIncentiveFeesExpense_label_en-US" xlink:label="lab_us-gaap_ManagementAndIncentiveFeesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management and Incentive Fees Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManagementAndIncentiveFeesExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ManagementAndIncentiveFeesExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementAndIncentiveFeesExpense" xlink:to="lab_us-gaap_ManagementAndIncentiveFeesExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementLineItems_019e22ad-f99e-76ba-91ba-3f8815d5bb3c_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_label_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Assets_019e22ad-fb09-7484-99f2-e51e74e6ff54_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assets</link:label>
    <link:label id="lab_us-gaap_Assets_019e22ad-fb09-76f5-94aa-0dedca12ecd9_terseLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock_019e22ad-fba0-73ef-953c-4ba1bce1b71d_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Revenue and Expenses From Real Estate Owned</link:label>
    <link:label id="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock_label_en-US" xlink:label="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Owned, Income And Expenses [Table Text Block]</link:label>
    <link:label id="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Owned, Income And Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:to="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ExtendedMaturityMember_019e22ad-f99e-7ed7-a6e1-66601ddf792a_terseLabel_en-US" xlink:label="lab_us-gaap_ExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity</link:label>
    <link:label id="lab_us-gaap_ExtendedMaturityMember_label_en-US" xlink:label="lab_us-gaap_ExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExtendedMaturityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ExtendedMaturityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExtendedMaturityMember" xlink:to="lab_us-gaap_ExtendedMaturityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseOperating_019e22ad-fb09-75d1-a499-1d9a0d9247d3_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Interest and related expenses</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOperating_019e22ad-fb09-7255-bb68-7edaa8c474cf_netLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Total interest and related expenses presented in the consolidated statements of operations</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOperating_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseOperating" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpenseOperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseOperating" xlink:to="lab_us-gaap_InterestExpenseOperating" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CashAndCashEquivalents_019e22ad-fa65-7440-987d-cb79a9d83a74_terseLabel_en-US" xlink:label="lab_bxmt_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents, book value</link:label>
    <link:label id="lab_bxmt_CashAndCashEquivalents_label_en-US" xlink:label="lab_bxmt_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash And Cash Equivalents</link:label>
    <link:label id="lab_bxmt_CashAndCashEquivalents_documentation_en-US" xlink:label="lab_bxmt_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash And Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CashAndCashEquivalents" xlink:href="bxmt-20260630.xsd#bxmt_CashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CashAndCashEquivalents" xlink:to="lab_bxmt_CashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InternalCreditAssessmentDomain_019e22ad-fba0-7735-b738-ed7fcb03d8f5_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Domain]</link:label>
    <link:label id="lab_us-gaap_InternalCreditAssessmentDomain_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InternalCreditAssessmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentDomain" xlink:to="lab_us-gaap_InternalCreditAssessmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConvertibleDebtMember_019e22ad-fa65-7b2a-9a04-402b3632bc62_terseLabel_en-US" xlink:label="lab_us-gaap_ConvertibleDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Convertible notes, net</link:label>
    <link:label id="lab_us-gaap_ConvertibleDebtMember_019e22ad-fa65-7dc3-a918-d9e68917707d_verboseLabel_en-US" xlink:label="lab_us-gaap_ConvertibleDebtMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Convertible Notes</link:label>
    <link:label id="lab_us-gaap_ConvertibleDebtMember_label_en-US" xlink:label="lab_us-gaap_ConvertibleDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConvertibleDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConvertibleDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConvertibleDebtMember" xlink:to="lab_us-gaap_ConvertibleDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiaryOfCommonParentMember_019e22ad-fba0-7d6e-803c-e1225f24b2d6_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiaryOfCommonParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary of Common Parent</link:label>
    <link:label id="lab_us-gaap_SubsidiaryOfCommonParentMember_label_en-US" xlink:label="lab_us-gaap_SubsidiaryOfCommonParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary of Common Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiaryOfCommonParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiaryOfCommonParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiaryOfCommonParentMember" xlink:to="lab_us-gaap_SubsidiaryOfCommonParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet_019e22ad-fba0-702b-b9c9-527b5afd8ed3_totalLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate assets, net</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet_019e22ad-fba0-7c9a-9cf8-e01341deb446_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate intangible assets, net</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Net</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:href="bxmt-20260630.xsd#bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:to="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent_019e22ad-fa65-7e77-bb70-29dfab618828_terseLabel_en-US" xlink:label="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable and other assets</link:label>
    <link:label id="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent_label_en-US" xlink:label="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Net, Current And Other Assets, Current</link:label>
    <link:label id="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent_documentation_en-US" xlink:label="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Net, Current And Other Assets, Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:href="bxmt-20260630.xsd#bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:to="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_019e22ad-fb09-710c-b62e-cfac2e8062d8_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Incentive Plans</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CompensationCommitteeMember_019e22ad-fba0-7ede-94fd-a0ff3f083058_terseLabel_en-US" xlink:label="lab_bxmt_CompensationCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Committee</link:label>
    <link:label id="lab_bxmt_CompensationCommitteeMember_label_en-US" xlink:label="lab_bxmt_CompensationCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Committee [Member]</link:label>
    <link:label id="lab_bxmt_CompensationCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_CompensationCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Compensation Committee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CompensationCommitteeMember" xlink:href="bxmt-20260630.xsd#bxmt_CompensationCommitteeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CompensationCommitteeMember" xlink:to="lab_bxmt_CompensationCommitteeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoMember_terseLabel_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO</link:label>
    <link:label id="lab_ecd_PeoMember_label_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoMember" xlink:to="lab_ecd_PeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_019e22ad-fb09-7a10-a2cb-bac298d9dff2_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManagementAndServiceFeesRate_019e22ad-fb09-7559-acfd-f282ac17a4de_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementAndServiceFeesRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management base fee percentage</link:label>
    <link:label id="lab_us-gaap_ManagementAndServiceFeesRate_label_en-US" xlink:label="lab_us-gaap_ManagementAndServiceFeesRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management and Service Fees, Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManagementAndServiceFeesRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ManagementAndServiceFeesRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementAndServiceFeesRate" xlink:to="lab_us-gaap_ManagementAndServiceFeesRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation_019e22ad-f99e-7fd0-ae19-5201fb3764d6_terseLabel_en-US" xlink:label="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NOL limitation per annum</link:label>
    <link:label id="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation_label_en-US" xlink:label="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards, Limitations On Use, Annual Limitation</link:label>
    <link:label id="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation_documentation_en-US" xlink:label="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards, Limitations On Use, Annual Limitation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:href="bxmt-20260630.xsd#bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:to="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember_019e22ad-fa65-7ba9-b619-308dddd92686_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">3.01% or more floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 3.01% Or More Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 3.01% Or More Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivable3.01OrMoreFloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:to="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsMember_019e22ad-fb09-7f3e-83ec-dde90ed88ba5_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019e22ad-fba0-762e-a942-124c8a4ae6d3_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_019e22ad-fa65-7178-9c32-361efff01954_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgDiscLineItems_label_en-US" xlink:label="lab_ecd_AwardTmgDiscLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgDiscLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgDiscLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgDiscLineItems" xlink:to="lab_ecd_AwardTmgDiscLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions_019e22ad-fb9f-702f-b75c-89a806689153_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of loans not subject to prepayment restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions_label_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Not Subject To Prepayment Restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Not Subject To Prepayment Restrictions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:to="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_019e22ad-fa65-7b41-9c0b-c7d75c2b3fc5_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Details of Carrying Amount, Face Amount, and Fair Value of Financial Instruments</link:label>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_019e22ad-fa65-7e78-ab6a-7cd9058e21f9_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_019e22ad-fa65-7d35-8faf-96a6beed9d5d_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Per share amount, diluted (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareDiluted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted" xlink:to="lab_us-gaap_EarningsPerShareDiluted" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_019e22ad-fb09-75e4-9e90-9ba2a6d60969_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InternalCreditAssessmentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentAxis" xlink:to="lab_us-gaap_InternalCreditAssessmentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncentiveFeeExpense_019e22ad-fa65-7f2c-b948-c2109807eec6_verboseLabel_en-US" xlink:label="lab_us-gaap_IncentiveFeeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total incentive compensation payments</link:label>
    <link:label id="lab_us-gaap_IncentiveFeeExpense_label_en-US" xlink:label="lab_us-gaap_IncentiveFeeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Fee Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncentiveFeeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncentiveFeeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncentiveFeeExpense" xlink:to="lab_us-gaap_IncentiveFeeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_019e22ad-fb09-767b-a8bf-29b8b90b2559_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_019e22ad-fb09-78e7-b202-79e3dc46baae_verboseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of Loans</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_label_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableNumberOfLoans" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableNumberOfLoans" xlink:to="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_019e22ad-fba0-73dd-95ec-497bd66a7907_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Line Items]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipDomain_019e22ad-fa65-7bd9-af29-fe5c2ec93ca8_terseLabel_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:label id="lab_srt_OwnershipDomain_label_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipDomain" xlink:to="lab_srt_OwnershipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_019e22ad-fb9f-7b7b-9034-fa0a3a8ab512_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year four</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_019e22ad-f99e-76d2-b0d4-563c697b99d7_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_019e22ad-fb9f-7dfb-a706-bacb567588b6_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Remaining Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff_019f11fa-c82f-71c1-8d83-28a65ed4a9bd_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Writeoff</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_GBP_019e22ad-f99e-7538-83bb-36f35a3042f0_terseLabel_en-US" xlink:label="lab_currency_GBP" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">GBP</link:label>
    <link:label id="lab_currency_GBP_label_en-US" xlink:label="lab_currency_GBP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United Kingdom, Pounds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_GBP" xlink:href="https://xbrl.sec.gov/currency/2026/currency-2026.xsd#currency_GBP"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_GBP" xlink:to="lab_currency_GBP" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_019e22ad-fb09-7de9-bce4-aa27ae6d22c1_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Investment in Unconsolidated Entities</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_019e22ad-f99e-7271-b0d8-090d6cbeed62_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial assets</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_019e22ad-fb09-7494-8280-b3e06aef3d9b_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_019e22ad-fb09-7ea8-a41c-20f6c99d0b54_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedDuringPeriodValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodValue" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:to="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AuditCommitteeMembersMember_019e22ad-fa66-789e-b1e4-dfd94ab3e585_terseLabel_en-US" xlink:label="lab_bxmt_AuditCommitteeMembersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Audit Committee Members</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMembersMember_label_en-US" xlink:label="lab_bxmt_AuditCommitteeMembersMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit Committee Members [Member]</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMembersMember_documentation_en-US" xlink:label="lab_bxmt_AuditCommitteeMembersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Audit committee members.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AuditCommitteeMembersMember" xlink:href="bxmt-20260630.xsd#bxmt_AuditCommitteeMembersMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AuditCommitteeMembersMember" xlink:to="lab_bxmt_AuditCommitteeMembersMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock_019e22ad-fa65-7b89-86ff-e29c512992c8_terseLabel_en-US" xlink:label="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Overall Statistics for Loans Receivable Portfolio</link:label>
    <link:label id="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock_label_en-US" xlink:label="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Overall Statistics For Loans Receivables Portfolio [Table Text Block]</link:label>
    <link:label id="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Overall Statistics For Loans Receivables Portfolio [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:to="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember_019e22ad-f99e-77a7-9b48-b1ff834c3932_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy GBP / Sell USD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Great Britain Pound Sell United States Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Great Britain Pound Sell United States Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanPrincipalPaymentsHeldByServicer_019e22ad-fa66-7bc4-bec5-df202b8b894b_terseLabel_en-US" xlink:label="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan principal payments held by servicer, net</link:label>
    <link:label id="lab_bxmt_LoanPrincipalPaymentsHeldByServicer_label_en-US" xlink:label="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Principal Payments Held By Servicer</link:label>
    <link:label id="lab_bxmt_LoanPrincipalPaymentsHeldByServicer_documentation_en-US" xlink:label="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan principal payments held by servicer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:href="bxmt-20260630.xsd#bxmt_LoanPrincipalPaymentsHeldByServicer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:to="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019e22ad-fa65-70b1-8491-584f7a0e8541_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_TitleOfIndividualAxis_019e22ad-fb09-77a9-8f1e-88490dbbbb64_terseLabel_en-US" xlink:label="lab_srt_TitleOfIndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of Individual [Axis]</link:label>
    <link:label id="lab_srt_TitleOfIndividualAxis_label_en-US" xlink:label="lab_srt_TitleOfIndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title and Position [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_TitleOfIndividualAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_TitleOfIndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_TitleOfIndividualAxis" xlink:to="lab_srt_TitleOfIndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_019e22ad-fb09-7b04-ba0d-eb8925fc87ec_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:to="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MultifamilyMember_019e22ad-f99e-74fb-b318-7d72f550d29b_terseLabel_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily</link:label>
    <link:label id="lab_srt_MultifamilyMember_label_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MultifamilyMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MultifamilyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MultifamilyMember" xlink:to="lab_srt_MultifamilyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_019e22ad-fa65-71bf-bdfd-fee6a8c4a84f_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on derivative financial instruments, net</link:label>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_019e22ad-fa65-7906-a0fa-46a3f556afbe_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) to Net Interest Income Recognized from Derivatives</link:label>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_label_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Gain (Loss) on Derivative, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeGainLossOnDerivativeNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:to="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableModifiedNumberOfContracts_019e22ad-fba0-7fa4-9f25-5718f532a173_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loan modifications</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedNumberOfContracts_label_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Number Of Contracts</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedNumberOfContracts_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Number Of Contracts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableModifiedNumberOfContracts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:to="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_019e22ad-fba0-7aee-b670-7c80a183cc9b_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Dividend Activity</link:label>
    <link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_label_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Declared [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsDeclaredTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsDeclaredTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsDeclaredTableTextBlock" xlink:to="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherRealEstate_019e22ad-fb09-70fb-bc43-a1e2601ea393_terseLabel_en-US" xlink:label="lab_us-gaap_OtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other real estate assets</link:label>
    <link:label id="lab_us-gaap_OtherRealEstate_label_en-US" xlink:label="lab_us-gaap_OtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherRealEstate" xlink:to="lab_us-gaap_OtherRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation_019e22ad-fba0-72b3-8227-6ab77e9c1f37_negatedTerseLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: accumulated depreciation</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation_label_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation_documentation_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:to="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GeneralCECLReservesMember_019e22ad-fb09-713d-965f-4f088af8d9a7_terseLabel_en-US" xlink:label="lab_bxmt_GeneralCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General CECL Reserves</link:label>
    <link:label id="lab_bxmt_GeneralCECLReservesMember_label_en-US" xlink:label="lab_bxmt_GeneralCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General CECL Reserves [Member]</link:label>
    <link:label id="lab_bxmt_GeneralCECLReservesMember_documentation_en-US" xlink:label="lab_bxmt_GeneralCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">General CECL Reserves</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GeneralCECLReservesMember" xlink:href="bxmt-20260630.xsd#bxmt_GeneralCECLReservesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GeneralCECLReservesMember" xlink:to="lab_bxmt_GeneralCECLReservesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentAmortizationPercentage_019e22ad-fba0-7a9c-8e2c-d14a3079317e_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentAmortizationPercentage_label_en-US" xlink:label="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Amortization Percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentAmortizationPercentage_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents debt instrument amortization percentage.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentAmortizationPercentage" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentAmortizationPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentAmortizationPercentage" xlink:to="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CollateralAxis_019e22ad-f99e-783c-82d4-5a3c4b8b1d43_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral [Axis]</link:label>
    <link:label id="lab_us-gaap_CollateralAxis_label_en-US" xlink:label="lab_us-gaap_CollateralAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateral Held [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CollateralAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralAxis" xlink:to="lab_us-gaap_CollateralAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:to="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember_019e22ad-fb9f-7cc0-9cba-6883ed8f142a_terseLabel_en-US" xlink:label="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company and Affiliates</link:label>
    <link:label id="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember_label_en-US" xlink:label="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company And Affiliates [Member]</link:label>
    <link:label id="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember_documentation_en-US" xlink:label="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company And Affiliates [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:href="bxmt-20260630.xsd#bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:to="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_019e22ad-fa65-7863-a505-482ada470492_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Current Expected Credit Loss Reserve By Pool</link:label>
    <link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:to="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_019e22ad-fb09-7476-a50b-3765dd443c2f_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SaleOfStockMaximumAuthorizedAmount_019e22ad-fa66-766b-a869-3769fe0fb56a_terseLabel_en-US" xlink:label="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate sales price</link:label>
    <link:label id="lab_bxmt_SaleOfStockMaximumAuthorizedAmount_label_en-US" xlink:label="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Maximum Authorized Amount</link:label>
    <link:label id="lab_bxmt_SaleOfStockMaximumAuthorizedAmount_documentation_en-US" xlink:label="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Maximum Authorized Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:href="bxmt-20260630.xsd#bxmt_SaleOfStockMaximumAuthorizedAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:to="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_CurrencyAxis_019e22ad-fba0-74bb-8576-0cad08b3c7f2_terseLabel_en-US" xlink:label="lab_srt_CurrencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:label id="lab_srt_CurrencyAxis_label_en-US" xlink:label="lab_srt_CurrencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CurrencyAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_CurrencyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CurrencyAxis" xlink:to="lab_srt_CurrencyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_019e22ad-fa65-7c36-81f5-20d7cc20e48a_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate_019e22ad-f99e-7cfb-9226-a778ce3bd0c5_terseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net loss on disposition of owned real estate</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate_019e22ad-f99e-7ed5-a664-4b352e7253ca_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net loss on disposition of owned real estate</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (Losses) on Sales of Other Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainsLossesOnSalesOfOtherRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainsLossesOnSalesOfOtherRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnSalesOfOtherRealEstate" xlink:to="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoninterestExpenseAbstract_019e22ad-fa65-74fc-bfa5-c3a4d7968c4c_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:label id="lab_us-gaap_NoninterestExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Expense [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoninterestExpenseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpenseAbstract" xlink:to="lab_us-gaap_NoninterestExpenseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_019e22ad-fa65-70ac-9686-0ac0fa8e7603_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems" xlink:to="lab_us-gaap_VariableInterestEntityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_019e22ad-fb09-7571-bf20-cdd713d9a560_negatedTerseLabel_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayments of loan participations</link:label>
    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_label_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments Of Loan Participations</link:label>
    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_documentation_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents repayments of loan participants.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RepaymentsOfLoanParticipations" xlink:href="bxmt-20260630.xsd#bxmt_RepaymentsOfLoanParticipations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RepaymentsOfLoanParticipations" xlink:to="lab_bxmt_RepaymentsOfLoanParticipations" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm_019e22ad-fb09-7d13-856f-b68da5ae6ee2_terseLabel_en-US" xlink:label="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average maximum maturity (years)</link:label>
    <link:label id="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm_label_en-US" xlink:label="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loan On Real Estate Final Maturity Term</link:label>
    <link:label id="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm_documentation_en-US" xlink:label="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loan On Real Estate Final Maturity Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:href="bxmt-20260630.xsd#bxmt_MortgageLoanOnRealEstateFinalMaturityTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:to="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrTerminationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination Date</link:label>
    <link:label id="lab_ecd_TrdArrTerminationDate_label_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Termination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrTerminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrTerminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrTerminationDate" xlink:to="lab_ecd_TrdArrTerminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_019e22ad-fa65-72af-a55d-8715e4a43906_terseLabel_en-US" xlink:label="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_label_en-US" xlink:label="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Four</link:label>
    <link:label id="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:href="bxmt-20260630.xsd#bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:to="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember_019e22ad-fb09-7536-8774-7cbcad4af20d_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy AUD / Sell USD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Australian Dollar Sell United States Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Australian Dollar Sell United States Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_019e22ad-fb09-723c-b398-3d9c59512824_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring and Nonrecurring [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_019e22ad-fb09-7030-b755-20f2b52b7b97_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loan Count</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_019e22ad-fb09-7a8f-bc4b-398da137248d_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count, financing provided</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_label_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Loans</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentNumberOfLoans" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentNumberOfLoans" xlink:to="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember_019e22ad-fa65-7c73-962f-d7d44ffc4d00_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell EUR Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell European Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell European Dollar [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardGrantDateFairValue_terseLabel_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value as of Grant Date</link:label>
    <link:label id="lab_ecd_AwardGrantDateFairValue_label_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardGrantDateFairValue" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardGrantDateFairValue" xlink:to="lab_ecd_AwardGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure_019e22ad-fa65-7436-99d1-fd13c89b89cc_terseLabel_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and land improvements</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure_label_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure_documentation_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:href="bxmt-20260630.xsd#bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:to="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainLossOnDispositionOfAssets1_019e22ad-fb09-7652-b772-a2d5e81b1b38_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets1" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loss on disposition of assets</link:label>
    <link:label id="lab_us-gaap_GainLossOnDispositionOfAssets1_label_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Disposition of Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnDispositionOfAssets1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnDispositionOfAssets1" xlink:to="lab_us-gaap_GainLossOnDispositionOfAssets1" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure, Table</link:label>
    <link:label id="lab_ecd_PvpTableTextBlock_label_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTableTextBlock" xlink:to="lab_ecd_PvpTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1_019e22ad-fb9f-72b0-8a2d-3ae777238ade_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share repurchase program, remaining authorized, amount</link:label>
    <link:label id="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program, Remaining Authorized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:to="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedOtherIncome_019e22ad-fb09-7d1a-9dbe-2900f5a783e7_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedOtherIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other operating revenue</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOtherIncome_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Other Income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOtherIncome_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedOtherIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Other Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedOtherIncome" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedOtherIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedOtherIncome" xlink:to="lab_bxmt_RealEstateOwnedOtherIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrDuration_terseLabel_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrangement Duration</link:label>
    <link:label id="lab_ecd_TrdArrDuration_label_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Duration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrDuration" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrDuration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrDuration" xlink:to="lab_ecd_TrdArrDuration" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RetailSiteMember_019e22ad-f99e-729d-bc0a-4918471015fe_terseLabel_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
    <link:label id="lab_srt_RetailSiteMember_label_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Site [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RetailSiteMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RetailSiteMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RetailSiteMember" xlink:to="lab_srt_RetailSiteMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_019e22ad-fb09-72d7-b98a-285de2c7298c_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_019e22ad-fba0-7c49-a777-fe9feb569f7b_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:to="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseOther_019f8ab8-62a9-7add-9ef7-290a5f3c2577_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest and related expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOther_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseOther" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpenseOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseOther" xlink:to="lab_us-gaap_InterestExpenseOther" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_019e22ad-fb09-702b-a167-e33df098f060_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income (loss) from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_019e22ad-fb09-7278-adb4-c792edf62d27_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">(Income) loss from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_019e22ad-fb09-78e6-96e9-f1d2a27273bc_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansModified_019e22ad-f99e-7f9f-8584-f0e14fc9474f_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans modified</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansModified_label_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans Modified</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansModified_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans Modified</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableNumberOfLoansModified" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableNumberOfLoansModified"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableNumberOfLoansModified" xlink:to="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredDebtOther_019e22ad-fba0-77dc-a503-1f53dd472f80_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other secured debt</link:label>
    <link:label id="lab_us-gaap_SecuredDebtOther_label_en-US" xlink:label="lab_us-gaap_SecuredDebtOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtOther" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebtOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtOther" xlink:to="lab_us-gaap_SecuredDebtOther" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_019e22ad-fb09-7ef4-a22c-257392f9be08_terseLabel_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and land improvements</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:href="bxmt-20260630.xsd#bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:to="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoanRestructuringModificationAxis_019e22ad-fb9f-7672-933d-1e84d8b6c87b_terseLabel_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Restructuring Modification [Axis]</link:label>
    <link:label id="lab_us-gaap_LoanRestructuringModificationAxis_label_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Restructuring Modification [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoanRestructuringModificationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LoanRestructuringModificationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanRestructuringModificationAxis" xlink:to="lab_us-gaap_LoanRestructuringModificationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_019e22ad-fa66-7cb1-b7db-c251bf5f0c3c_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted shares, vesting period (in years)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_019e22ad-fa65-7c3e-bd6b-6eb41dea9fc8_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherRealEstateLiabilities_019e22ad-fb09-7ec3-8f93-ca1a41057b80_terseLabel_en-US" xlink:label="lab_bxmt_OtherRealEstateLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other real estate liabilities</link:label>
    <link:label id="lab_bxmt_OtherRealEstateLiabilities_label_en-US" xlink:label="lab_bxmt_OtherRealEstateLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Real Estate Liabilities</link:label>
    <link:label id="lab_bxmt_OtherRealEstateLiabilities_documentation_en-US" xlink:label="lab_bxmt_OtherRealEstateLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Real Estate Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherRealEstateLiabilities" xlink:href="bxmt-20260630.xsd#bxmt_OtherRealEstateLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherRealEstateLiabilities" xlink:to="lab_bxmt_OtherRealEstateLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_019e22ad-fa66-799b-bba6-bce03c00a178_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_019e22ad-fb09-71a2-8d6d-3109d06a42c6_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_019e22ad-f99e-7665-8023-bbcefd27d5a6_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Values</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_019e22ad-f99e-76cf-a8e7-535f34d30c97_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_us-gaap_FairValueInputsLevel3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_019e22ad-fa65-7013-ae88-dedb4f7e5955_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SharePrice_019e22ad-fba0-7f97-9da2-d55340c40b9c_terseLabel_en-US" xlink:label="lab_us-gaap_SharePrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share price (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_SharePrice_label_en-US" xlink:label="lab_us-gaap_SharePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharePrice" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SharePrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharePrice" xlink:to="lab_us-gaap_SharePrice" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_019e22ad-fa66-70d0-9eea-0024520744f2_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minority participation in senior term facility</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Ownership Percentage, Noncontrolling Owner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StatementGeographicalAxis_019e22ad-fba0-799e-bb79-41504a915b2a_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementGeographicalAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementGeographicalAxis" xlink:to="lab_srt_StatementGeographicalAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedCash_019e22ad-fb09-700b-af67-26271e3ab590_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_RestrictedCash_label_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCash" xlink:to="lab_us-gaap_RestrictedCash" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_019e22ad-fb09-74b2-9ab9-280a21fa451b_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingFiveMember_019e22ad-fba0-739a-b9d4-0392c40c49db_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingFiveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5</link:label>
    <link:label id="lab_bxmt_RiskRatingFiveMember_label_en-US" xlink:label="lab_bxmt_RiskRatingFiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, Five [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingFiveMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating Five [Member].</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingFiveMember" xlink:href="bxmt-20260630.xsd#bxmt_RiskRatingFiveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingFiveMember" xlink:to="lab_bxmt_RiskRatingFiveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssets_019e22ad-f99e-75e0-8a1a-78cfbd9c3dd3_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_019e22ad-f99e-71e8-b313-4aa84939e23f_totalLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_OtherAssets_019e22ad-f99e-7618-bcab-aac4c0bdc9fd_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LegalEntityAxis_019e22ad-fb09-71e3-bf52-c546aec6165e_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LegalEntityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseDebt_019e22ad-fba0-78e8-b983-6785dd9bd82c_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense on debt</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebt_019e22ad-fba0-718b-a374-e06f2dfcafe0_totalLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebt_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpenseDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseDebt" xlink:to="lab_us-gaap_InterestExpenseDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedge_019e22ad-fb09-74db-8f03-42b54b27a730_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying Amount of the Hedged Assets/ Liabilities</link:label>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedge_label_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedged Liability, Fair Value Hedge</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityFairValueHedge" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgedLiabilityFairValueHedge"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedLiabilityFairValueHedge" xlink:to="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SanFranciscoCAMember_019e22ad-f99e-70b4-b96b-336731890564_terseLabel_en-US" xlink:label="lab_bxmt_SanFranciscoCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">San Francisco, CA</link:label>
    <link:label id="lab_bxmt_SanFranciscoCAMember_label_en-US" xlink:label="lab_bxmt_SanFranciscoCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">San Francisco, CA [Member]</link:label>
    <link:label id="lab_bxmt_SanFranciscoCAMember_documentation_en-US" xlink:label="lab_bxmt_SanFranciscoCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">San Francisco, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SanFranciscoCAMember" xlink:href="bxmt-20260630.xsd#bxmt_SanFranciscoCAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SanFranciscoCAMember" xlink:to="lab_bxmt_SanFranciscoCAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e22ad-fa65-7982-bdc1-6ca2b0e8924c_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at beginning of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e22ad-fa65-74da-8f51-226956e21cbe_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at end of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_019e22ad-fa66-76b5-9419-d5675471b5c3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount_019e22ad-fa65-7bb6-b726-b9b817e28739_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance, collateral assets</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Face Amount</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCollateralAmountFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:to="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_019e22ad-fb9f-7f82-b88c-054aa7078444_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments under derivative financial instruments</link:label>
    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:to="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonNeosMember_terseLabel_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-NEOs</link:label>
    <link:label id="lab_ecd_NonNeosMember_label_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-NEOs [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonNeosMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonNeosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonNeosMember" xlink:to="lab_ecd_NonNeosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions_019e22ad-fb9f-71fc-878c-b76325ace6f8_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of loans subject to prepayment restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions_label_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Subject To Prepayment Restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Subject To Prepayment Restrictions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:to="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_HomeBuilderFinanceJointVentureMember_019e22ad-fa65-7e1b-8061-303a24f3cd8b_terseLabel_en-US" xlink:label="lab_bxmt_HomeBuilderFinanceJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Homebuilder Finance Joint Venture</link:label>
    <link:label id="lab_bxmt_HomeBuilderFinanceJointVentureMember_label_en-US" xlink:label="lab_bxmt_HomeBuilderFinanceJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Home Builder Finance Joint Venture [Member]</link:label>
    <link:label id="lab_bxmt_HomeBuilderFinanceJointVentureMember_documentation_en-US" xlink:label="lab_bxmt_HomeBuilderFinanceJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Home Builder Finance Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_HomeBuilderFinanceJointVentureMember" xlink:href="bxmt-20260630.xsd#bxmt_HomeBuilderFinanceJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_HomeBuilderFinanceJointVentureMember" xlink:to="lab_bxmt_HomeBuilderFinanceJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_019e22ad-fa66-7dbc-934a-f3eafddd142d_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_019e22ad-fa66-7c01-871f-9b8d23570427_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ownership Interest</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_019e22ad-fba0-7a68-8f7e-e7f5443c91b2_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock_019e22ad-f99e-709c-a7b0-8b0882da0162_terseLabel_en-US" xlink:label="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Expected Credit Losses Reserve</link:label>
    <link:label id="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Loss, Financial Instrument [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditLossFinancialInstrumentPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:to="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_019e22ad-fb9f-75ec-a513-bd657a7bd3ba_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain" xlink:to="lab_srt_EquityMethodInvesteeNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_019e22ad-fb09-773e-bbd0-8169e659345d_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_019e22ad-f99e-7947-af5f-b8f6cd5f442c_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_019e22ad-f99e-7fd3-8154-b74f9d200b93_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_019e22ad-fa65-74c6-9958-2fe165756ab1_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
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    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_019e22ad-fba0-7ad2-997a-be71e442010d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Effect of Derivative Financial Instruments on Consolidated Statements of Comprehensive Income And Operations</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock"/>
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    <link:label id="lab_us-gaap_AwardTypeAxis_019e22ad-fb09-72ca-b50a-54ddbfcdad76_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AwardTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis" xlink:to="lab_us-gaap_AwardTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax_019e22ad-fa65-7888-8f2a-7fa5f4982149_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount of Gain (Loss) Recognized in OCI on Derivatives</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax"/>
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    <link:label id="lab_us-gaap_InterestRateContractMember_019e22ad-f99e-7230-b21d-76cb56fc2b7c_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate derivatives</link:label>
    <link:label id="lab_us-gaap_InterestRateContractMember_label_en-US" xlink:label="lab_us-gaap_InterestRateContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Contract [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestRateContractMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateContractMember" xlink:to="lab_us-gaap_InterestRateContractMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_019e22ad-f99e-799b-96de-b237d813ce21_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote</link:label>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_label_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NamedExecutiveOfficersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:to="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_019e22ad-fa66-70ff-97b8-ad6a9a0c98d8_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansReceivable_019e22ad-fb09-7619-8063-d7dacabbee57_netLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Loan fundings</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansReceivable_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Loans Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireLoansReceivable" xlink:to="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_AllCurrenciesDomain_019e22ad-fa65-7ed0-9d90-dc00ba26e26d_terseLabel_en-US" xlink:label="lab_currency_AllCurrenciesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
    <link:label id="lab_currency_AllCurrenciesDomain_label_en-US" xlink:label="lab_currency_AllCurrenciesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_AllCurrenciesDomain" xlink:href="https://xbrl.sec.gov/currency/2026/currency-2026.xsd#currency_AllCurrenciesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_AllCurrenciesDomain" xlink:to="lab_currency_AllCurrenciesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockMember_019e22ad-f99e-7726-bcb8-9132c282eb04_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_019e22ad-fa65-78c0-9d6c-5078f7b93b43_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year five</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2020FL2UnderlyingCollateralAssetsMember_019e22ad-fb09-76a1-be15-f9a60f5ab5b4_terseLabel_en-US" xlink:label="lab_bxmt_A2020FL2UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020 FL2 Underlying Collateral Assets</link:label>
    <link:label id="lab_bxmt_A2020FL2UnderlyingCollateralAssetsMember_label_en-US" xlink:label="lab_bxmt_A2020FL2UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2020 FL2 Underlying Collateral Assets [Member]</link:label>
    <link:label id="lab_bxmt_A2020FL2UnderlyingCollateralAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A2020FL2UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2020 FL2 Underlying Collateral Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2020FL2UnderlyingCollateralAssetsMember" xlink:href="bxmt-20260630.xsd#bxmt_A2020FL2UnderlyingCollateralAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2020FL2UnderlyingCollateralAssetsMember" xlink:to="lab_bxmt_A2020FL2UnderlyingCollateralAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonUsMember_019e22ad-fb09-7ecc-9449-a85fced1502f_terseLabel_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
    <link:label id="lab_us-gaap_NonUsMember_label_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-US [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonUsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonUsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonUsMember" xlink:to="lab_us-gaap_NonUsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PaymentInKindInterestNetOfInterestReceived_019e22ad-fa65-7ff2-b3e7-626666327a2b_negatedTerseLabel_en-US" xlink:label="lab_bxmt_PaymentInKindInterestNetOfInterestReceived" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payment-in-kind interest, net of interest received</link:label>
    <link:label id="lab_bxmt_PaymentInKindInterestNetOfInterestReceived_label_en-US" xlink:label="lab_bxmt_PaymentInKindInterestNetOfInterestReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment-In-Kind Interest, Net Of Interest Received</link:label>
    <link:label id="lab_bxmt_PaymentInKindInterestNetOfInterestReceived_documentation_en-US" xlink:label="lab_bxmt_PaymentInKindInterestNetOfInterestReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment-In-Kind Interest, Net Of Interest Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PaymentInKindInterestNetOfInterestReceived" xlink:href="bxmt-20260630.xsd#bxmt_PaymentInKindInterestNetOfInterestReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PaymentInKindInterestNetOfInterestReceived" xlink:to="lab_bxmt_PaymentInKindInterestNetOfInterestReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseDebtExcludingAmortization_019e22ad-f99e-7590-80cb-d19fa3c5ba26_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash coupon</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebtExcludingAmortization_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt, Excluding Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpenseDebtExcludingAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:to="lab_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_019e22ad-fb09-7507-ab2f-703b6d248576_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_label_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeContractTypeDomain" xlink:to="lab_us-gaap_DerivativeContractTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_019e22ad-fba0-7c3e-a3cd-0df197ecf210_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConvertibleDebtTableTextBlock_019e22ad-fba0-7e88-8e28-981d47a8628d_terseLabel_en-US" xlink:label="lab_us-gaap_ConvertibleDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Convertible Debt</link:label>
    <link:label id="lab_us-gaap_ConvertibleDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ConvertibleDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConvertibleDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConvertibleDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConvertibleDebtTableTextBlock" xlink:to="lab_us-gaap_ConvertibleDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember_019e22ad-fba0-7934-b0b2-f39ea746eb73_terseLabel_en-US" xlink:label="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021 FL4 Underlying Collateral Assets</link:label>
    <link:label id="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember_label_en-US" xlink:label="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2021 FL4 Underlying Collateral Assets [Member]</link:label>
    <link:label id="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2021 FL4 Underlying Collateral Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2021FL4UnderlyingCollateralAssetsMember" xlink:href="bxmt-20260630.xsd#bxmt_A2021FL4UnderlyingCollateralAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2021FL4UnderlyingCollateralAssetsMember" xlink:to="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_019e22ad-fba0-7b18-b984-779b0d8eba20_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities and Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Stock Option</link:label>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Option [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeStockOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeStockOptionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember" xlink:to="lab_us-gaap_EmployeeStockOptionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesWestMember_019e22ad-f99e-72ee-a499-4e752656238a_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesWestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">West</link:label>
    <link:label id="lab_bxmt_UnitedStatesWestMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesWestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, West [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesWestMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesWestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States West [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesWestMember" xlink:href="bxmt-20260630.xsd#bxmt_UnitedStatesWestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesWestMember" xlink:to="lab_bxmt_UnitedStatesWestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureMember_019e22ad-fb09-788c-98c9-04b8bea58cb2_terseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureMember_019e22ad-fb09-7fc3-8497-9997702cc371_verboseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureMember_label_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture [Member]</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureMember_documentation_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BankLoanPortfolioJointVentureMember" xlink:href="bxmt-20260630.xsd#bxmt_BankLoanPortfolioJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BankLoanPortfolioJointVentureMember" xlink:to="lab_bxmt_BankLoanPortfolioJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_019e22ad-fb09-7e58-a762-3db06647184b_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure</link:label>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_label_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Additional402vDisclosureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Additional402vDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Additional402vDisclosureTextBlock" xlink:to="lab_ecd_Additional402vDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_019e22ad-f99e-7a0b-83ec-56d892e8cc5e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Carrying Amount and Cumulative Basis Adjustments on Hedged Items Designated as Fair Value Hedges</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyDomain_019e22ad-fba0-71c4-85fa-f75d86fc3ee4_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TabularListTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tabular List, Table</link:label>
    <link:label id="lab_ecd_TabularListTableTextBlock_label_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tabular List [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TabularListTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TabularListTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TabularListTableTextBlock" xlink:to="lab_ecd_TabularListTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VestingAxis_019e22ad-fb09-796b-856b-c4060a0f12ee_terseLabel_en-US" xlink:label="lab_us-gaap_VestingAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:label id="lab_us-gaap_VestingAxis_label_en-US" xlink:label="lab_us-gaap_VestingAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VestingAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VestingAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingAxis" xlink:to="lab_us-gaap_VestingAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_019e22ad-fba0-7444-815e-c5c3624ae99a_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities_019e22ad-fba0-73bd-87f4-a399549f8faa_terseLabel_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of dilutive securities - convertible notes (in shares)</link:label>
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities_label_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:to="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_019e22ad-f99e-7795-9a3d-f22c1e789596_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherOperatingIncomeExpenseNet_019e22ad-fb09-7376-89df-4450d2cf3f0a_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income, net</link:label>
    <link:label id="lab_us-gaap_OtherOperatingIncomeExpenseNet_label_en-US" xlink:label="lab_us-gaap_OtherOperatingIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Operating Income (Expense), Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherOperatingIncomeExpenseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherOperatingIncomeExpenseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherOperatingIncomeExpenseNet" xlink:to="lab_us-gaap_OtherOperatingIncomeExpenseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:to="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureGross_019e22ad-fa65-77d9-a768-42b0843fa26c_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition Date Fair Value</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureGross_019e22ad-fa65-7746-8ff0-86d330b51211_totalLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureGross_label_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure, Gross</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureGross_documentation_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateAcquiredThroughForeclosureGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:to="lab_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LifeSciencesStudioMember_019e22ad-f99e-7928-8420-c0b444f52ca9_terseLabel_en-US" xlink:label="lab_bxmt_LifeSciencesStudioMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Life Sciences / Studio</link:label>
    <link:label id="lab_bxmt_LifeSciencesStudioMember_label_en-US" xlink:label="lab_bxmt_LifeSciencesStudioMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life Sciences/Studio [Member]</link:label>
    <link:label id="lab_bxmt_LifeSciencesStudioMember_documentation_en-US" xlink:label="lab_bxmt_LifeSciencesStudioMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Life Sciences/Studio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LifeSciencesStudioMember" xlink:href="bxmt-20260630.xsd#bxmt_LifeSciencesStudioMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LifeSciencesStudioMember" xlink:to="lab_bxmt_LifeSciencesStudioMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_terseLabel_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_label_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:to="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AssetSpecificCECLReservesMember_019e22ad-fa65-7aec-ae6f-d1552e74c30a_terseLabel_en-US" xlink:label="lab_bxmt_AssetSpecificCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset-specific CECL Reserves</link:label>
    <link:label id="lab_bxmt_AssetSpecificCECLReservesMember_label_en-US" xlink:label="lab_bxmt_AssetSpecificCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset-specific CECL Reserves [Member]</link:label>
    <link:label id="lab_bxmt_AssetSpecificCECLReservesMember_documentation_en-US" xlink:label="lab_bxmt_AssetSpecificCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-specific CECL Reserves</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AssetSpecificCECLReservesMember" xlink:href="bxmt-20260630.xsd#bxmt_AssetSpecificCECLReservesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AssetSpecificCECLReservesMember" xlink:to="lab_bxmt_AssetSpecificCECLReservesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_019e22ad-f99d-77d7-acd4-adb8fe6cdf43_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Domain]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember_019e22ad-fa65-7758-a334-fb82f0e1a597_terseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total unconsolidated entities carried at historical cost</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Historical Cost [Member]</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Historical Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:href="bxmt-20260630.xsd#bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:to="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_019e22ad-fa66-71ea-a4ea-014425b5b488_verboseLabel_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Transfer of senior loans to owned real estate</link:label>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_019e22ad-fa66-7d5b-a096-099009cbd905_negatedNetLabel_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Transfer to owned real estate</link:label>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_label_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Transfer to Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransferToOtherRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransferToOtherRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferToOtherRealEstate" xlink:to="lab_us-gaap_TransferToOtherRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAxis_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation:</link:label>
    <link:label id="lab_ecd_AdjToCompAxis_label_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToCompAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAxis" xlink:to="lab_ecd_AdjToCompAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EuropeanLoanSecuritizationMember_019e22ad-fb09-741e-b3dc-23d2b3192be4_terseLabel_en-US" xlink:label="lab_bxmt_EuropeanLoanSecuritizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">European Loan Securitization</link:label>
    <link:label id="lab_bxmt_EuropeanLoanSecuritizationMember_label_en-US" xlink:label="lab_bxmt_EuropeanLoanSecuritizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">European Loan Securitization [Member]</link:label>
    <link:label id="lab_bxmt_EuropeanLoanSecuritizationMember_documentation_en-US" xlink:label="lab_bxmt_EuropeanLoanSecuritizationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">European Loan Securitization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EuropeanLoanSecuritizationMember" xlink:href="bxmt-20260630.xsd#bxmt_EuropeanLoanSecuritizationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EuropeanLoanSecuritizationMember" xlink:to="lab_bxmt_EuropeanLoanSecuritizationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtSecurityInterestRate_019e22ad-fb09-7b6e-8789-443b5a0336fc_terseLabel_en-US" xlink:label="lab_bxmt_DebtSecurityInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate</link:label>
    <link:label id="lab_bxmt_DebtSecurityInterestRate_label_en-US" xlink:label="lab_bxmt_DebtSecurityInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Security, Interest Rate</link:label>
    <link:label id="lab_bxmt_DebtSecurityInterestRate_documentation_en-US" xlink:label="lab_bxmt_DebtSecurityInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Security, Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtSecurityInterestRate" xlink:href="bxmt-20260630.xsd#bxmt_DebtSecurityInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtSecurityInterestRate" xlink:to="lab_bxmt_DebtSecurityInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CashCollateralForCollateralizedLoanObligations_019e22ad-f99d-7a35-aa31-2fe9960bb855_terseLabel_en-US" xlink:label="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash collateral</link:label>
    <link:label id="lab_bxmt_CashCollateralForCollateralizedLoanObligations_label_en-US" xlink:label="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Collateral For Collateralized Loan Obligations</link:label>
    <link:label id="lab_bxmt_CashCollateralForCollateralizedLoanObligations_documentation_en-US" xlink:label="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash Collateral For Collateralized Loan Obligations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:href="bxmt-20260630.xsd#bxmt_CashCollateralForCollateralizedLoanObligations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:to="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:to="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_AggtErrCompAmt_label_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompAmt" xlink:to="lab_ecd_AggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPaidNet_019e22ad-fa65-7ba7-9f20-b095e3c2cc57_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments of interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet" xlink:to="lab_us-gaap_InterestPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingDesignationAxis_019e22ad-fba0-72ac-98d1-134bcceefbec_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:label id="lab_us-gaap_HedgingDesignationAxis_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgingDesignationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationAxis" xlink:to="lab_us-gaap_HedgingDesignationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityAxis_019e22ad-fa65-79ab-b87e-313e3f69ea17_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityAxis_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityAxis" xlink:to="lab_us-gaap_CreditFacilityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_019e22ad-fb09-7a26-9826-0b39f8eadd14_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure" xlink:to="lab_us-gaap_AssetsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureName_terseLabel_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_MeasureName_label_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureName" xlink:to="lab_ecd_MeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_B7TermLoanDue2029Member_019e22ad-fb09-73ed-acdc-3e86acc1bb66_terseLabel_en-US" xlink:label="lab_bxmt_B7TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-7 Term Loan</link:label>
    <link:label id="lab_bxmt_B7TermLoanDue2029Member_label_en-US" xlink:label="lab_bxmt_B7TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-7 Term Loan Due 2029 [Member]</link:label>
    <link:label id="lab_bxmt_B7TermLoanDue2029Member_documentation_en-US" xlink:label="lab_bxmt_B7TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-7 Term Loan Due 2029</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B7TermLoanDue2029Member" xlink:href="bxmt-20260630.xsd#bxmt_B7TermLoanDue2029Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B7TermLoanDue2029Member" xlink:to="lab_bxmt_B7TermLoanDue2029Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PayVsPerformanceDisclosureLineItems_label_en-US" xlink:label="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PayVsPerformanceDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:to="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019e22ad-fa65-75cc-8f1d-782168723944_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_019e22ad-fb09-7118-bc96-5f8dd2f8bc16_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember_019e22ad-f99e-74c2-8191-0069fb001dda_terseLabel_en-US" xlink:label="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025 FL5 Senior Collateralized Loan Obligation</link:label>
    <link:label id="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember_label_en-US" xlink:label="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2025 FL5 Senior Collateralized Loan Obligation [Member]</link:label>
    <link:label id="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember_documentation_en-US" xlink:label="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2025 FL5 Senior Collateralized Loan Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:href="bxmt-20260630.xsd#bxmt_A2025FL5SeniorCollateralizedLoanObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:to="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_019e22ad-fba0-77a3-8f19-b141687f364b_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest and related income</link:label>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_label_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Fee Income, Financing Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:to="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_019e22ad-f99e-73af-9742-e9318e4b448f_netLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Additional Paid- In Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy_019e22ad-fb09-7cb5-bf90-73185c9fc245_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Receivable</link:label>
    <link:label id="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy_label_en-US" xlink:label="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLoansAndLeasesReceivablePolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:to="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentCompanyCommittedCapital_019e22ad-f99e-7e7a-b23d-5f1cda464f2d_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentCompanyCommittedCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital commitment</link:label>
    <link:label id="lab_us-gaap_InvestmentCompanyCommittedCapital_label_en-US" xlink:label="lab_us-gaap_InvestmentCompanyCommittedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Company, Committed Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentCompanyCommittedCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyCommittedCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentCompanyCommittedCapital" xlink:to="lab_us-gaap_InvestmentCompanyCommittedCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation_019e22ad-fb09-7014-96af-22a229ba3542_terseLabel_en-US" xlink:label="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred directors&#8217; compensation</link:label>
    <link:label id="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation_label_en-US" xlink:label="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments To Additional Paid In Capital, Deferred Compensation</link:label>
    <link:label id="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation_documentation_en-US" xlink:label="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments To Additional Paid In Capital, Deferred Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:href="bxmt-20260630.xsd#bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:to="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestReceivable_019e22ad-fb09-76df-977f-660f24f83fe7_terseLabel_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_InterestReceivable_label_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestReceivable" xlink:to="lab_us-gaap_InterestReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndName_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_TrdArrIndName_label_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndName" xlink:to="lab_ecd_TrdArrIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_019e22ad-fba0-7534-9683-534d88cdde0c_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation_019e22ad-fb09-709a-b971-b3e2ea817c69_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquired intangible assets</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:href="bxmt-20260630.xsd#bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:to="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureAmt" xlink:to="lab_ecd_CoSelectedMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LongTermDebtMaturityAfterYearFour_019e22ad-fb09-7721-8e9a-25c117dfd261_terseLabel_en-US" xlink:label="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_LongTermDebtMaturityAfterYearFour_label_en-US" xlink:label="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, After Year Four</link:label>
    <link:label id="lab_bxmt_LongTermDebtMaturityAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, After Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LongTermDebtMaturityAfterYearFour" xlink:href="bxmt-20260630.xsd#bxmt_LongTermDebtMaturityAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LongTermDebtMaturityAfterYearFour" xlink:to="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedPolicyTextBlock_019e22ad-fb09-7d46-8fa6-3585c026d85a_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Owned Real Estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedPolicyTextBlock_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned [Policy Text Block]</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedPolicyTextBlock_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedPolicyTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedPolicyTextBlock" xlink:to="lab_bxmt_RealEstateOwnedPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredOvernightFinancingRateSofrMember_019e22ad-fb09-791d-a3a4-468b26e0242c_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SOFR</link:label>
    <link:label id="lab_us-gaap_SecuredOvernightFinancingRateSofrMember_label_en-US" xlink:label="lab_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredOvernightFinancingRateSofrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:to="lab_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_019e22ad-fb09-74e3-9384-fb3bbf638c8f_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts and Financing Receivables [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:to="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesNortheastMember_019e22ad-fba0-7865-ae32-6c2a85c751ba_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesNortheastMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Northeast</link:label>
    <link:label id="lab_bxmt_UnitedStatesNortheastMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesNortheastMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Northeast [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesNortheastMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesNortheastMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States Northeast [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesNortheastMember" xlink:href="bxmt-20260630.xsd#bxmt_UnitedStatesNortheastMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesNortheastMember" xlink:to="lab_bxmt_UnitedStatesNortheastMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAbstract" xlink:to="lab_us-gaap_RealEstateAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput_019e22ad-fb09-7d27-b2b8-d2c764a8c0d6_terseLabel_en-US" xlink:label="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, measurement input</link:label>
    <link:label id="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput_label_en-US" xlink:label="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant And Equipment, Measurement Input</link:label>
    <link:label id="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput_documentation_en-US" xlink:label="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property, Plant And Equipment, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:href="bxmt-20260630.xsd#bxmt_PropertyPlantAndEquipmentMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:to="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoMember_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO</link:label>
    <link:label id="lab_ecd_NonPeoNeoMember_label_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoMember" xlink:to="lab_ecd_NonPeoNeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoninterestExpense_019e22ad-fba0-753c-a811-2c7e52b9b48f_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:label id="lab_us-gaap_NoninterestExpense_label_en-US" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoninterestExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpense" xlink:to="lab_us-gaap_NoninterestExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_019e22ad-f99d-7324-86c0-ce89ee98aba1_totalLabel_en-US" xlink:label="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net gain on fair value hedging relationships</link:label>
    <link:label id="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_label_en-US" xlink:label="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Fair Value Hedges Recognized in Earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:to="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_019e22ad-fb09-75f7-9954-2a0ff15626d9_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Expenses</link:label>
    <link:label id="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Income and Other Expense Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:to="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited_019e22ad-f99e-73be-83a0-eff687e18527_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares forfeited (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Restricted Stock Award, Forfeited</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Method</link:label>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMethodTextBlock" xlink:to="lab_ecd_AwardTmgMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedHospitalityIncome_019e22ad-fb09-7811-9362-7ce726acc855_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedHospitalityIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hospitality revenue</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedHospitalityIncome_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedHospitalityIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Hospitality Income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedHospitalityIncome_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedHospitalityIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Hospitality Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedHospitalityIncome" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedHospitalityIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedHospitalityIncome" xlink:to="lab_bxmt_RealEstateOwnedHospitalityIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:to="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherSecuredDebtMember_019e22ad-fb09-73b9-be6b-aa55d8c1675e_terseLabel_en-US" xlink:label="lab_bxmt_OtherSecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other secured debt, net</link:label>
    <link:label id="lab_bxmt_OtherSecuredDebtMember_019e22ad-fb09-7af5-bb44-f7b402d08a68_verboseLabel_en-US" xlink:label="lab_bxmt_OtherSecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other Secured Debt</link:label>
    <link:label id="lab_bxmt_OtherSecuredDebtMember_label_en-US" xlink:label="lab_bxmt_OtherSecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Secured Debt [Member]</link:label>
    <link:label id="lab_bxmt_OtherSecuredDebtMember_documentation_en-US" xlink:label="lab_bxmt_OtherSecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Secured Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherSecuredDebtMember" xlink:href="bxmt-20260630.xsd#bxmt_OtherSecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherSecuredDebtMember" xlink:to="lab_bxmt_OtherSecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_019e22ad-fb09-7885-afe7-74b0cf20fa73_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_019e22ad-fb09-73fc-9c34-8741a5e353c5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vest in 2028</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Tranche Three [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationAwardTrancheThreeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLoss_019e22ad-f99e-7c52-999e-184fd49f9291_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income attributable to Blackstone Mortgage Trust, Inc.</link:label>
    <link:label id="lab_us-gaap_NetIncomeLoss_label_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_019e22ad-fb09-7c23-a992-ee94c926627a_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis</link:label>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_label_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompAnalysisTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompAnalysisTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompAnalysisTextBlock" xlink:to="lab_ecd_ErrCompAnalysisTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_019e22ad-f99e-70a3-a94c-37c706733103_terseLabel_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Above-market lease intangibles</link:label>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_label_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Above Market Leases [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AboveMarketLeasesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AboveMarketLeasesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AboveMarketLeasesMember" xlink:to="lab_us-gaap_AboveMarketLeasesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDateAxis_terseLabel_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date:</link:label>
    <link:label id="lab_ecd_RestatementDateAxis_label_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDateAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDateAxis" xlink:to="lab_ecd_RestatementDateAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorSecuredNotesMember_019e22ad-f99e-77f5-93a6-970a3e3b2b30_terseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Secured Notes</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesMember_019e22ad-f99e-7fe6-b396-d7610d93629d_verboseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Senior secured notes, net</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesMember_label_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Notes [Member]</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesMember_documentation_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Secured Notes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorSecuredNotesMember" xlink:href="bxmt-20260630.xsd#bxmt_SeniorSecuredNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorSecuredNotesMember" xlink:to="lab_bxmt_SeniorSecuredNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentsContribution_019e22ad-f99e-7f4f-a2ef-553e65911107_verboseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsContribution" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Contributions</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsContribution_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsContribution" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Contribution</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsContribution_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsContribution" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Contribution</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentsContribution" xlink:href="bxmt-20260630.xsd#bxmt_EquityMethodInvestmentsContribution"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EquityMethodInvestmentsContribution" xlink:to="lab_bxmt_EquityMethodInvestmentsContribution" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LivCorLLCMember_019e22ad-fb09-7782-a4cc-621780dfedb8_terseLabel_en-US" xlink:label="lab_bxmt_LivCorLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LivCor LLC</link:label>
    <link:label id="lab_bxmt_LivCorLLCMember_label_en-US" xlink:label="lab_bxmt_LivCorLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LivCor LLC [Member]</link:label>
    <link:label id="lab_bxmt_LivCorLLCMember_documentation_en-US" xlink:label="lab_bxmt_LivCorLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">LivCor LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LivCorLLCMember" xlink:href="bxmt-20260630.xsd#bxmt_LivCorLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LivCorLLCMember" xlink:to="lab_bxmt_LivCorLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentForManagementFee_019e22ad-fa65-7c87-baca-e8cf95ec7ead_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentForManagementFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees paid to manager</link:label>
    <link:label id="lab_us-gaap_PaymentForManagementFee_label_en-US" xlink:label="lab_us-gaap_PaymentForManagementFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Management Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentForManagementFee" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentForManagementFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentForManagementFee" xlink:to="lab_us-gaap_PaymentForManagementFee" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_TermLoanMember_019e22ad-f99e-711a-be7e-125216a7edcf_terseLabel_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured term loans, net</link:label>
    <link:label id="lab_bxmt_TermLoanMember_019e22ad-f99e-780a-85ab-036eaef5321e_netLabel_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Term Loans</link:label>
    <link:label id="lab_bxmt_TermLoanMember_label_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</link:label>
    <link:label id="lab_bxmt_TermLoanMember_documentation_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term loan.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_TermLoanMember" xlink:href="bxmt-20260630.xsd#bxmt_TermLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_TermLoanMember" xlink:to="lab_bxmt_TermLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_019e22ad-fba0-7d5e-b2f7-6796ef465d06_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Components of Other Assets</link:label>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Assets [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfOtherAssetsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax_019e22ad-fa66-72a5-8d0d-522ff7fa3b9b_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange contracts</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate_019e22ad-fba0-71df-a041-c66b735aa772_terseLabel_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of loans by principal balance, floating rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate_label_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Floating Rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate_documentation_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Floating Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:href="bxmt-20260630.xsd#bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:to="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_019e22ad-fba0-7c44-9250-625d1d77e86f_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral deposited under derivative agreements</link:label>
    <link:label id="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_label_en-US" xlink:label="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateral Already Posted, Aggregate Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CollateralAlreadyPostedAggregateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:to="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable_019e22ad-f99e-73cd-bc54-cab7d7f1e4d5_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Table]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable_label_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Table]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:href="bxmt-20260630.xsd#bxmt_ScheduleOfSecuredCreditFacilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:to="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnBnftsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:to="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_019e22ad-fb09-7f7d-af8b-b7e1bbc1dc5b_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares of common stock outstanding</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeMember_019e22ad-f99e-7ee4-b12c-b2cad8d62e0e_terseLabel_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:label id="lab_srt_RangeMember_label_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalYearFocus_019e22ad-fb09-7d3b-a485-4830d9ae8899_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalYearFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_019e22ad-fba0-75d5-94a1-a67864a6f8c5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Class A Common Stock</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedIncomeLoss_019e22ad-f99e-7b74-9608-5d4940bf8710_totalLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Loss from owned real estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncomeLoss_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income (Loss)</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncomeLoss_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedIncomeLoss" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedIncomeLoss" xlink:to="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansImpaired_019e22ad-f99e-7f34-9538-bda50ad956bd_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansImpaired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans impaired</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansImpaired_label_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansImpaired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans Impaired</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansImpaired_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansImpaired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans Impaired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableNumberOfLoansImpaired" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableNumberOfLoansImpaired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableNumberOfLoansImpaired" xlink:to="lab_bxmt_FinancingReceivableNumberOfLoansImpaired" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_019e22ad-fb09-7955-b6fd-eeb5e52b4a43_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A common stock, $0.01 par value, 400,000,000 shares authorized, 168,543,591 and 168,259,023 shares issued and outstanding as of June&#160;30, 2026 and December&#160;31, 2025, respectively</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_B6TermLoanDue2030Member_019e22ad-f99e-7b14-8bea-5c2bf4eecca9_terseLabel_en-US" xlink:label="lab_bxmt_B6TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-6 Term Loan</link:label>
    <link:label id="lab_bxmt_B6TermLoanDue2030Member_label_en-US" xlink:label="lab_bxmt_B6TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-6 Term Loan Due 2030 [Member]</link:label>
    <link:label id="lab_bxmt_B6TermLoanDue2030Member_documentation_en-US" xlink:label="lab_bxmt_B6TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-6 Term Loan Due 2030</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B6TermLoanDue2030Member" xlink:href="bxmt-20260630.xsd#bxmt_B6TermLoanDue2030Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B6TermLoanDue2030Member" xlink:to="lab_bxmt_B6TermLoanDue2030Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_019e22ad-fa65-7c29-8c20-2cd9311cef93_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Movement in Outstanding Shares of Restricted Class A Common Stock and Weighted-Average Grant Date Fair Value Per Share</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]</link:label>
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    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors_019e22ad-fa65-776e-a6e1-b9447c636410_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Excluding 0.0% index rate floors, weighted-average index rate floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors_label_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Index Rate Floor, Excluding Zero Percent Interest Rate Floors</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Index Rate Floor, Excluding Zero Percent Interest Rate Floors</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:to="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_019e22ad-fa65-70ae-a5d3-d34d5d440eb1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear_019e22ad-fb09-7092-923b-0b405a074efa_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingFourMember_019e22ad-fb9f-7ff3-bfc6-1d0b1b172a98_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">4</link:label>
    <link:label id="lab_bxmt_RiskRatingFourMember_019e22ad-fb9f-7a46-bc86-bd50023975ed_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4</link:label>
    <link:label id="lab_bxmt_RiskRatingFourMember_label_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, Four [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingFourMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating Four [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingFourMember" xlink:href="bxmt-20260630.xsd#bxmt_RiskRatingFourMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingFourMember" xlink:to="lab_bxmt_RiskRatingFourMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_019e22ad-fb09-720f-94eb-e09f1eb506c3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of General and Administrative Expenses</link:label>
    <link:label id="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Operating Cost and Expense, by Component [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:to="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditMember_019e22ad-fb09-7c68-8a40-ba1d25fe1dc1_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured debt, net</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditMember" xlink:to="lab_us-gaap_LineOfCreditMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDeterminationDate_terseLabel_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:label id="lab_ecd_RestatementDeterminationDate_label_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDeterminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDeterminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDeterminationDate" xlink:to="lab_ecd_RestatementDeterminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_019e22ad-fba0-7e6f-bded-1d6b3c3d66d0_verboseLabel_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">In-place lease intangibles</link:label>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_label_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Acquired-in-Place [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeasesAcquiredInPlaceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:to="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivablesTextBlock_019e22ad-f99e-727f-a925-f313efc5f8d6_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Receivable, Net</link:label>
    <link:label id="lab_us-gaap_FinancingReceivablesTextBlock_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivables [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivablesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivablesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivablesTextBlock" xlink:to="lab_us-gaap_FinancingReceivablesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_019e22ad-fb09-74bf-bdde-448debaedc6e_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_019e22ad-fb9f-798d-bc6c-f42c5fd7358f_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Outstanding Foreign Exchange Derivatives</link:label>
    <link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans_019e22ad-f99e-70b5-b8a1-24293e06f8b9_terseLabel_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of benefit plans</link:label>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans_label_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Stock Incentive Plans</link:label>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans_documentation_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Stock Incentive Plans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:href="bxmt-20260630.xsd#bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:to="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_019e22ad-fb09-7fd0-a81f-62275e002214_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments [Domain]</link:label>
    <link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentTypeCategorizationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentTypeCategorizationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeCategorizationMember" xlink:to="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote</link:label>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:to="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_019e22ad-f99e-74f1-839d-21e6f091dc43_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold_019e22ad-fba0-77cf-9d09-8f30addce389_terseLabel_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management core earnings fee minimum threshold</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold_label_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Minimum Threshold</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold_documentation_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Minimum Threshold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:href="bxmt-20260630.xsd#bxmt_ManagementFeeCoreEarningsMinimumThreshold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:to="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoTotalCompAmt_label_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoTotalCompAmt" xlink:to="lab_ecd_PeoTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member_019e22ad-fa65-7348-bb3d-99b308950a27_terseLabel_en-US" xlink:label="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC And Revantage Global Services Europe S.&#224; r.l.</link:label>
    <link:label id="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member_label_en-US" xlink:label="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC And Revantage Global Services Europe S.&#224; r.l. [Member]</link:label>
    <link:label id="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member_documentation_en-US" xlink:label="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC And Revantage Global Services Europe S.&#224; r.l.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:href="bxmt-20260630.xsd#bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:to="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_019e22ad-f99e-7bd8-aaff-7274fa0a04f9_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsFairValueDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationAbstract_019e22ad-f99e-7955-811f-ad1c2a7fe4a8_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAbstract_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAbstract" xlink:to="lab_us-gaap_ShareBasedCompensationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember_019e22ad-fb09-7bd6-bffc-9f027f3e781f_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell CAD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Canadian Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Canadian Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_019e22ad-f99e-7f1b-9ecb-9cbe12144d1f_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Notional Amount</link:label>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Notional Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeNotionalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNotionalAmount" xlink:to="lab_us-gaap_DerivativeNotionalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_019e22ad-fa65-7840-8aeb-83a8cea910f4_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_019e22ad-fa65-756e-b604-3c5f74071843_netLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares outstanding, basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_019e22ad-fa65-7659-86f2-1842e5aefeeb_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from owned real estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_019e22ad-fa65-7d50-b6ca-1e6304b164b0_totalLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Revenue from owned real estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedIncome" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedIncome" xlink:to="lab_bxmt_RealEstateOwnedIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_019e22ad-fa66-7d5a-9d8c-f5f596bf71f8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Incurred Amounts by Related Parties</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_019e22ad-fba0-7cca-ae96-e0a5a1330e96_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByBalanceSheetGroupingTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_019e22ad-f99e-7cc6-9120-a6dd96647bdb_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2026FL6UnderlyingCollateralAssetsMember_019e22ad-fb09-7ab0-acf5-996f09c9496c_terseLabel_en-US" xlink:label="lab_bxmt_A2026FL6UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 FL6 Underlying Collateral Assets</link:label>
    <link:label id="lab_bxmt_A2026FL6UnderlyingCollateralAssetsMember_label_en-US" xlink:label="lab_bxmt_A2026FL6UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2026 FL6 Underlying Collateral Assets [Member]</link:label>
    <link:label id="lab_bxmt_A2026FL6UnderlyingCollateralAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A2026FL6UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2026 FL6 Underlying Collateral Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2026FL6UnderlyingCollateralAssetsMember" xlink:href="bxmt-20260630.xsd#bxmt_A2026FL6UnderlyingCollateralAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2026FL6UnderlyingCollateralAssetsMember" xlink:to="lab_bxmt_A2026FL6UnderlyingCollateralAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross_019e22ad-fb09-70fd-ab43-317fbaaa6dae_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate assets</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:href="bxmt-20260630.xsd#bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:to="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_019e22ad-f99e-7a4a-95fd-0b64dd0b90f8_terseLabel_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitment</link:label>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_019e22ad-f99e-7c8c-b9de-a71ca8c32a93_verboseLabel_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitments</link:label>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_label_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnfundedLoanCommitmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnfundedLoanCommitmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnfundedLoanCommitmentMember" xlink:to="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease_019e22ad-fba0-72fd-bfde-54b0db926167_negatedNetLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Deferred fees and other items</link:label>
    <link:label id="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease_label_en-US" xlink:label="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Deferred Fees And Other Items, Increase (Decrease)</link:label>
    <link:label id="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Deferred Fees And Other Items, Increase (Decrease)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:to="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoninterestIncome_019e22ad-fba0-7359-adda-7a4dac74832d_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total net revenue</link:label>
    <link:label id="lab_us-gaap_NoninterestIncome_label_en-US" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoninterestIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncome" xlink:to="lab_us-gaap_NoninterestIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate_019e22ad-fb09-78e8-a65d-4339c27f41eb_terseLabel_en-US" xlink:label="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost, financing provided</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate_label_en-US" xlink:label="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Weighted Average Cost Over Variable Rate</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate_documentation_en-US" xlink:label="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Weighted Average Cost Over Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:href="bxmt-20260630.xsd#bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:to="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems_019e22ad-fa66-739f-abd9-294f5eaec866_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems_label_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Line Item]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:href="bxmt-20260630.xsd#bxmt_ScheduleOfSecuredCreditFacilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:to="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_019e22ad-f99e-7803-acfa-87783e24e24a_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:to="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiDiscTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:to="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_019e22ad-fa65-7730-b592-f4368084ad6d_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_019e22ad-fba0-7bf1-9991-509a6146fd8b_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis" xlink:to="lab_us-gaap_StatementClassOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_019e22ad-fa65-7e40-b1c1-005db2764e15_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_019e22ad-f99e-795d-a62d-f4af47661ff0_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_019e22ad-fb9f-730d-9b12-a85b3d3194a7_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends reinvested</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Dividend Reinvestment Plan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_019e22ad-fb09-7c0c-adb4-7108619e202d_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_label_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivableTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ReceivableTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivableTypeDomain" xlink:to="lab_us-gaap_ReceivableTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_019e22ad-f99e-759d-9377-b3cbe0a63243_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StraightLineRent_019e22ad-fb09-7a28-9fb1-26aff509baac_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StraightLineRent" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rental income</link:label>
    <link:label id="lab_us-gaap_StraightLineRent_label_en-US" xlink:label="lab_us-gaap_StraightLineRent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight Line Rent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StraightLineRent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StraightLineRent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StraightLineRent" xlink:to="lab_us-gaap_StraightLineRent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CollateralizedDebtObligationsMember_019e22ad-fa65-7059-8998-d742252e0390_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralizedDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CLOs</link:label>
    <link:label id="lab_us-gaap_CollateralizedDebtObligationsMember_label_en-US" xlink:label="lab_us-gaap_CollateralizedDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Debt Obligations [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralizedDebtObligationsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CollateralizedDebtObligationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralizedDebtObligationsMember" xlink:to="lab_us-gaap_CollateralizedDebtObligationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_019e22ad-fa65-7f26-ba62-1ca8041ab5a2_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses from owned real estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_019e22ad-fa65-78e5-a271-0a8165d67341_totalLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses from owned real estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Expenses</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedExpenses" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedExpenses" xlink:to="lab_bxmt_RealEstateOwnedExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_019e22ad-f99e-77fb-a3c6-3b2d44115251_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e22ad-f99e-7d99-bb23-bb7503e760bd_totalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Loans receivable, net</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e22ad-f99e-7665-9443-024bb98e6439_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net book value</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e22ad-f99e-7fe3-93c6-decd173fdd23_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable, net, book value</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_019e22ad-fba0-7606-a677-b7277eaf2aee_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_019e22ad-fa66-7ef1-84ae-2c3a964f006f_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssets_019e22ad-fb09-701e-9f09-bd31ad50a67c_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate owned assets</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssets_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssets_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedNumberOfAssets" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedNumberOfAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedNumberOfAssets" xlink:to="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax_019f707a-c031-716e-8a21-a92369eadd21_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedges outstanding</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_019e22ad-fb09-7a62-bd3b-4ef0e2b93afa_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Controlling Interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure_019e22ad-f99e-76f9-b147-59f16e82c67e_terseLabel_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and building improvements</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure_label_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure_documentation_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:href="bxmt-20260630.xsd#bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:to="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_019e22ad-f99e-7aa0-86e3-c00b9687763c_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued under dividend reinvestment program (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Dividend Reinvestment Plan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebt_019e22ad-fa66-75d2-84ce-a596668eb25b_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e22ad-fa66-7e4b-bcb0-6dda6fa14a2d_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net book value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e22ad-fa66-7800-92c9-d019bad6923c_netLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Book Value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e22ad-fa66-7fe6-ad6e-81f9e54a595e_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securitized debt obligations, net</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_019e22ad-f99e-75cd-bde5-19abf727ee04_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year three</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_019e22ad-f99e-7c6e-a5c5-d022cada6fc5_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in the Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:to="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum_019e22ad-fa65-732d-802f-c469b58443b9_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, indebtedness to total assets, in percent</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Indebtedness, Maximum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Indebtedness, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantIndebtednessMaximum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:to="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_019e22ad-fb09-7617-b516-47dacbf2f7c5_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock_019e22ad-f99e-7624-88a8-08de59bf4e80_terseLabel_en-US" xlink:label="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Property Type and Geographic Distribution of Properties Securing Loans in Our Loans Receivable Portfolio</link:label>
    <link:label id="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock_label_en-US" xlink:label="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types Of Loans In Portfolio [Table Text Block]</link:label>
    <link:label id="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Types Of Loans In Portfolio [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_TypesOfLoansInPortfolioTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:to="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_019e22ad-fb09-78c9-8f92-96992994a8f6_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AuditCommitteeMember_019e22ad-fb9f-748d-8a54-fed0396f83de_terseLabel_en-US" xlink:label="lab_bxmt_AuditCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Audit Committee</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMember_label_en-US" xlink:label="lab_bxmt_AuditCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit Committee [Member]</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_AuditCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Audit Committee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AuditCommitteeMember" xlink:href="bxmt-20260630.xsd#bxmt_AuditCommitteeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AuditCommitteeMember" xlink:to="lab_bxmt_AuditCommitteeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer_019e22ad-fba0-73cc-900c-bdb65cbc1495_terseLabel_en-US" xlink:label="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan portfolio payments held by servicer</link:label>
    <link:label id="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer_label_en-US" xlink:label="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Portfolio Payments Held By Our Third Party Loan Servicer</link:label>
    <link:label id="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer_documentation_en-US" xlink:label="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan portfolio payments held by our third party loan servicer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:href="bxmt-20260630.xsd#bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:to="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_019e22ad-fa66-7012-b8a7-0adbeb25c1bd_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum number of shares available under plan (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_019e22ad-fa65-7eb0-93c7-61bc82b892ec_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income from loans and other investments</link:label>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income (Expense), Operating [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestIncomeExpenseNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:to="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryIndName" xlink:to="lab_ecd_OutstandingRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax_019e22ad-fba0-7a49-b7b4-6e6602017c99_terseLabel_en-US" xlink:label="lab_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net realized and unrealized gains (losses) related to changes in fair value of derivative instruments</link:label>
    <link:label id="lab_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax_label_en-US" xlink:label="lab_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:to="lab_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentVariableRateFloor_019e22ad-fb09-7e10-938e-b90e3dbb5710_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentVariableRateFloor" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable rate floor</link:label>
    <link:label id="lab_bxmt_DebtInstrumentVariableRateFloor_label_en-US" xlink:label="lab_bxmt_DebtInstrumentVariableRateFloor" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Rate Floor</link:label>
    <link:label id="lab_bxmt_DebtInstrumentVariableRateFloor_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentVariableRateFloor" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Rate Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentVariableRateFloor" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentVariableRateFloor"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentVariableRateFloor" xlink:to="lab_bxmt_DebtInstrumentVariableRateFloor" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:to="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation_019e22ad-f99e-7b7d-9841-40da837c72ba_negatedTerseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: accumulated amortization</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:href="bxmt-20260630.xsd#bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:to="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilitiesTableTextBlock_019e22ad-fa65-7b3c-a57b-c9b9b12968ed_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Components of Other Liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesTableTextBlock" xlink:to="lab_us-gaap_OtherLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SegmentGeographicalDomain_019e22ad-fb09-7c3b-a400-b3c708b107ee_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum_019e22ad-fba0-7d7e-9992-846a98a1b755_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, EBITDA to fixed charges, in percent</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Earnings Before Interest, Taxes, Depreciation, And Amortization, Or EBITDA To Fixed Charges, Minimum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Earnings Before Interest, Taxes, Depreciation, And Amortization, Or EBITDA To Fixed Charges, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" xlink:to="lab_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year</link:label>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_label_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:to="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsPrrSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:to="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance_019e22ad-fa66-7dc2-9bf3-236b1a7e2212_terseLabel_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares available for future issuance (in shares)</link:label>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance_label_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Reinvestment And Direct Stock Purchase Plan, Remaining Shares Available For Future Issuance</link:label>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance_documentation_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Reinvestment And Direct Stock Purchase Plan, Remaining Shares Available For Future Issuance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" xlink:href="bxmt-20260630.xsd#bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" xlink:to="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableFixedRateFloorMember_019e22ad-fba0-769c-bdd3-f2c1ea2a453a_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableFixedRateFloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed Rate</link:label>
    <link:label id="lab_bxmt_FinancingReceivableFixedRateFloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivableFixedRateFloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Fixed Rate Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivableFixedRateFloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableFixedRateFloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Fixed Rate Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableFixedRateFloorMember" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableFixedRateFloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableFixedRateFloorMember" xlink:to="lab_bxmt_FinancingReceivableFixedRateFloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_019e22ad-fb09-7387-8243-edcd20d72495_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred financing costs and premiums/discounts on debt obligations</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_019e22ad-fb09-798b-83f7-d410e5f6dee3_verboseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Discount and issuance cost amortization</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs and Discounts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:to="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract_019e22ad-f99e-770e-bc2f-c18a5c7d6dc4_terseLabel_en-US" xlink:label="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of non-cash investing and financing activities</link:label>
    <link:label id="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract_label_en-US" xlink:label="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncash Investing and Financing Items [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncashInvestingAndFinancingItemsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:to="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_019e22ad-f99e-7778-a4c3-7213484c5a25_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Ownership Percentage, Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax_019e22ad-fa65-7cb1-b4e8-9590e8a588bf_totalLabel_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax_label_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net Investment Hedge and Cash Flow Hedge, Gain (Loss), Before Reclassification And Tax</link:label>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax_documentation_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net Investment Hedge and Cash Flow Hedge, Gain (Loss), Before Reclassification And Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:href="bxmt-20260630.xsd#bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:to="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet_019e22ad-fa66-7bb6-94c9-adf55f437102_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate liabilities, net</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Net</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" xlink:href="bxmt-20260630.xsd#bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" xlink:to="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e22ad-fb09-7f24-8766-d8bd123949ee_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total face value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e22ad-fb09-7ade-afae-31dcf6588ffc_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, face amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e22ad-fb09-79eb-a10b-b2e0a5b8504f_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total obligation</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IndustrialMember_019e22ad-fb09-7d9a-a3b2-757b20cb66c2_terseLabel_en-US" xlink:label="lab_bxmt_IndustrialMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial</link:label>
    <link:label id="lab_bxmt_IndustrialMember_label_en-US" xlink:label="lab_bxmt_IndustrialMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial [Member]</link:label>
    <link:label id="lab_bxmt_IndustrialMember_documentation_en-US" xlink:label="lab_bxmt_IndustrialMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Industrial.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IndustrialMember" xlink:href="bxmt-20260630.xsd#bxmt_IndustrialMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IndustrialMember" xlink:to="lab_bxmt_IndustrialMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate_019e22ad-fa65-7834-961c-68ae7614915f_terseLabel_en-US" xlink:label="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost, collateral assets</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate_label_en-US" xlink:label="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Underlying Assets, Weighted Average Yield Over Variable Rate</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate_documentation_en-US" xlink:label="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Underlying Assets, Weighted Average Yield Over Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:href="bxmt-20260630.xsd#bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:to="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_019e22ad-fb09-7521-adbf-85d08970a7af_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember_019e22ad-fba0-7c10-abf2-0db1c808a485_terseLabel_en-US" xlink:label="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Blackstone Securities Partners L.P</link:label>
    <link:label id="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember_label_en-US" xlink:label="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Blackstone Securities Partners L.P [Member]</link:label>
    <link:label id="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember_documentation_en-US" xlink:label="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Blackstone Securities Partners L.P</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:href="bxmt-20260630.xsd#bxmt_BlackstoneSecuritiesPartnersL.PMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:to="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_019e22ad-fb09-74b3-9807-17b520c5e6e2_terseLabel_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured Debt, Asset-Specific Debt, Term Loans, Senior Secured Notes, Convertible Notes and Deferred Financing Costs</link:label>
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtPolicyTextBlock" xlink:to="lab_us-gaap_DebtPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryCompAmt" xlink:to="lab_ecd_OutstandingRecoveryCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_IndividualAxis_terseLabel_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Individual:</link:label>
    <link:label id="lab_ecd_IndividualAxis_label_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_IndividualAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_IndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_IndividualAxis" xlink:to="lab_ecd_IndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019e22ad-fb09-7c6e-9f2a-1b8bc7938305_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019e22ad-fb09-776a-83b4-d8459ab55016_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares outstanding, diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_019e22ad-f99e-72a8-8c33-4843ecdc2da9_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts, Notes, Loans and Financing Receivable [Line Items]</link:label>
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_label_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts, Notes, Loans and Financing Receivable [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:to="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_019e22ad-f99e-7323-8d3e-155881701612_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_019e22ad-fa65-736a-b343-5958a946fff1_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativesPolicyTextBlock_019e22ad-fb09-7263-92f8-01effb589aaf_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_DerivativesPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativesPolicyTextBlock" xlink:to="lab_us-gaap_DerivativesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e22ad-fb09-7a7a-8246-fe868fb8c4bf_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e22ad-fb09-703a-9dca-89fb86d1bc42_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e22ad-fb09-7cd0-a757-5c3b04336a0f_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e22ad-fb09-73b6-8770-b19e4d513bdc_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e22ad-fb09-7341-a81a-da4aa435531f_netLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net Book Value</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_terseLabel_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change</link:label>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_label_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_UndrlygSecurityMktPriceChngPct"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:to="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_019e22ad-fba0-757b-80a1-08ea49b49f01_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New borrowings</link:label>
    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Lines of Credit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromLinesOfCredit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLinesOfCredit" xlink:to="lab_us-gaap_ProceedsFromLinesOfCredit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_019e22ad-fba0-7ee4-b7b8-ce7030edbe38_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SelfStorageMember_019e22ad-fba0-7921-8232-34607296e924_terseLabel_en-US" xlink:label="lab_bxmt_SelfStorageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Self-storage</link:label>
    <link:label id="lab_bxmt_SelfStorageMember_label_en-US" xlink:label="lab_bxmt_SelfStorageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Self Storage [Member]</link:label>
    <link:label id="lab_bxmt_SelfStorageMember_documentation_en-US" xlink:label="lab_bxmt_SelfStorageMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Self Storage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SelfStorageMember" xlink:href="bxmt-20260630.xsd#bxmt_SelfStorageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SelfStorageMember" xlink:to="lab_bxmt_SelfStorageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_019e22ad-fba0-7c30-bad5-7822f2d4c06e_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_019e22ad-fa66-792b-a545-4c406cb88182_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue_019e22ad-f99e-7bc1-b320-54029714cfb2_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guarantee liability</link:label>
    <link:label id="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantor Obligations, Current Carrying Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GuaranteeObligationsCurrentCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:to="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ImpairedLoans8LoansMember_019e22ad-fb9f-7225-9098-eaa662696109_terseLabel_en-US" xlink:label="lab_bxmt_ImpairedLoans8LoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impaired Loans, 8 Loans</link:label>
    <link:label id="lab_bxmt_ImpairedLoans8LoansMember_label_en-US" xlink:label="lab_bxmt_ImpairedLoans8LoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impaired Loans, 8 Loans [Member]</link:label>
    <link:label id="lab_bxmt_ImpairedLoans8LoansMember_documentation_en-US" xlink:label="lab_bxmt_ImpairedLoans8LoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Impaired Loans, 8 Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ImpairedLoans8LoansMember" xlink:href="bxmt-20260630.xsd#bxmt_ImpairedLoans8LoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ImpairedLoans8LoansMember" xlink:to="lab_bxmt_ImpairedLoans8LoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_019e22ad-fa65-7ec0-ac3c-ddd5ad00bf79_terseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in reserve</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease_019e22ad-fb09-72da-94df-4b86530c7fcf_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in CECL reserves</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Period Increase (Decrease)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ActivityInLoansReceivableTableTextBlock_019e22ad-fb09-75b5-b054-f9daea8e6c9e_terseLabel_en-US" xlink:label="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Activity Relating to Loans Receivable Portfolio</link:label>
    <link:label id="lab_bxmt_ActivityInLoansReceivableTableTextBlock_label_en-US" xlink:label="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Activity In Loans Receivable [Table Text Block]</link:label>
    <link:label id="lab_bxmt_ActivityInLoansReceivableTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Activity In Loans Receivable Table [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_ActivityInLoansReceivableTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:to="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_019e22ad-fa66-7bd8-81e6-f63687c17fa5_negatedNetLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Transfer to other assets</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Transfer To Other Assets</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Transfer To Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember_019e22ad-f99e-7d9f-9900-2664b462c5f5_terseLabel_en-US" xlink:label="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Manager</link:label>
    <link:label id="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember_label_en-US" xlink:label="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company [Member]</link:label>
    <link:label id="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember_documentation_en-US" xlink:label="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:href="bxmt-20260630.xsd#bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:to="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_019e22ad-fb09-7198-95eb-1af69084f42f_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputCapRateMember_019e22ad-fba0-7fdd-9fad-840f58cd95fe_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputCapRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalization rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputCapRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputCapRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Cap Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputCapRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputCapRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputCapRateMember" xlink:to="lab_us-gaap_MeasurementInputCapRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AssetSpecificDebtMember_019e22ad-fba0-7f3a-b9c3-0d96e63b014a_terseLabel_en-US" xlink:label="lab_bxmt_AssetSpecificDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset-specific debt, net</link:label>
    <link:label id="lab_bxmt_AssetSpecificDebtMember_label_en-US" xlink:label="lab_bxmt_AssetSpecificDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset-Specific Debt [Member]</link:label>
    <link:label id="lab_bxmt_AssetSpecificDebtMember_documentation_en-US" xlink:label="lab_bxmt_AssetSpecificDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-Specific Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AssetSpecificDebtMember" xlink:href="bxmt-20260630.xsd#bxmt_AssetSpecificDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AssetSpecificDebtMember" xlink:to="lab_bxmt_AssetSpecificDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff_019e22ad-fba0-7850-ae3d-74e186bee0da_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year three</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CollateralDomain_019e22ad-fb9f-733f-bd77-5643ceb167fe_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral [Domain]</link:label>
    <link:label id="lab_us-gaap_CollateralDomain_label_en-US" xlink:label="lab_us-gaap_CollateralDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateral Held [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CollateralDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralDomain" xlink:to="lab_us-gaap_CollateralDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract_019e22ad-f99e-7fd7-92dc-23111e12bbf7_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in assets and liabilities, net</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets and Liabilities, Net [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_019e22ad-fa65-74b5-9f71-4e62d93d5d1a_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_019e22ad-fa65-7a2d-9207-f8ec2390784b_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllExecutiveCategoriesMember_terseLabel_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Executive Categories</link:label>
    <link:label id="lab_ecd_AllExecutiveCategoriesMember_label_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Executive Categories [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllExecutiveCategoriesMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllExecutiveCategoriesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllExecutiveCategoriesMember" xlink:to="lab_ecd_AllExecutiveCategoriesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsSvcCstMember" xlink:to="lab_ecd_PnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees_019e22ad-fa65-753f-8f27-376fadeb2220_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Origination and other fees received on loans receivable</link:label>
    <link:label id="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees_label_en-US" xlink:label="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Loan Origination And Other Loan Receivable Fees</link:label>
    <link:label id="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Loan Origination And Other Loan Receivable Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:href="bxmt-20260630.xsd#bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:to="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_019e22ad-f99e-706f-9d8c-1a1576a67688_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionDomain" xlink:to="lab_us-gaap_AssetAcquisitionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2027Member_019e22ad-fa66-7b96-bda9-a75fb430fba4_terseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">October 2021</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2027Member_label_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Notes Due 2027 [Member]</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2027Member_documentation_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Secured Notes Due 2027</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorSecuredNotesDue2027Member" xlink:href="bxmt-20260630.xsd#bxmt_SeniorSecuredNotesDue2027Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorSecuredNotesDue2027Member" xlink:to="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember_019e22ad-f99e-79cd-acb6-94aaf9a2bd82_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell AUD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Australian Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Australian Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesNorthwestMember_019e22ad-fa65-7e22-89d9-a703f41b1c41_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesNorthwestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Northwest</link:label>
    <link:label id="lab_bxmt_UnitedStatesNorthwestMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesNorthwestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Northwest [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesNorthwestMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesNorthwestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States Northwest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesNorthwestMember" xlink:href="bxmt-20260630.xsd#bxmt_UnitedStatesNorthwestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesNorthwestMember" xlink:to="lab_bxmt_UnitedStatesNorthwestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_019e22ad-fb09-7aad-adf2-803e3cb0581d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Basic and Diluted Earnings Per Share, or EPS, Based on Weighted-Average of Both Restricted and Unrestricted Class A Common Stock Outstanding</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_019e22ad-fa65-783f-9529-88571b418e5e_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract" xlink:to="lab_us-gaap_DebtDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_019e22ad-fa65-7168-9b01-508539505141_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting</link:label>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MinimumMember_019e22ad-fa65-7fa1-9047-ff89a40530a3_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentTypeAxis_019e22ad-fba0-733d-9685-213899f6da04_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Type [Axis]</link:label>
    <link:label id="lab_us-gaap_InvestmentTypeAxis_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeAxis" xlink:to="lab_us-gaap_InvestmentTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock_019e22ad-fb09-71e6-85b0-5b563ff72080_terseLabel_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities</link:label>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock_label_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets And Liabilities Disclosure [Text Block]</link:label>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock_documentation_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other assets and liabilities disclosure.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:to="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CorporateGovernanceCommitteeMember_019e22ad-fb9f-7702-8e7c-108461b162ff_terseLabel_en-US" xlink:label="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate Governance Committee</link:label>
    <link:label id="lab_bxmt_CorporateGovernanceCommitteeMember_label_en-US" xlink:label="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Governance Committee [Member]</link:label>
    <link:label id="lab_bxmt_CorporateGovernanceCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate Governance Committee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CorporateGovernanceCommitteeMember" xlink:href="bxmt-20260630.xsd#bxmt_CorporateGovernanceCommitteeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CorporateGovernanceCommitteeMember" xlink:to="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_019e22ad-f99e-7d32-b0b7-8526adcc0ae9_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock_019e22ad-f99e-7e1b-9e10-69a86c1ea387_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Real Estate Owned Assets</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock_label_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure Financial Statements, Disclosure [Table Text Block]</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure Financial Statements, Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:to="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_019e22ad-fb09-72d4-8d37-99a1bc7b49dd_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entities</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:to="lab_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e22ad-fa66-7ace-a62b-84447678f5e8_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects of currency translation on cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
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    <link:label id="lab_us-gaap_StatementOfIncomeLocationBalanceAxis_019e22ad-fb09-7089-b2f9-c955cb6d73a4_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementOfIncomeLocationBalanceAxis_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Location, Statement of Income, Balance [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfIncomeLocationBalanceAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:to="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:to="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember"/>
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    <link:label id="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Common Stock Outstanding Roll Forward [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilities_019e22ad-fa65-72d0-8ec3-a20fb5fee1f3_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_019e22ad-fa65-7e87-bb04-61905fe3fb42_totalLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_019e22ad-fa65-7a0e-9bc1-c18e76b47021_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities" xlink:to="lab_us-gaap_OtherLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsCommonStock_019e22ad-fa65-7142-b88a-1b32853334c0_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A common stock dividends declared</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStock" xlink:to="lab_us-gaap_DividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_019e22ad-fa66-7ace-8cf4-a55f5b489bfe_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward_019e22ad-fa65-7c81-b91a-344ff1dcb47a_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Book Value</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance for Credit Loss [Roll Forward]</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateOwnedTextBlock_019e22ad-fa65-7275-9e23-413470049873_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOwnedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Owned Real Estate, Net</link:label>
    <link:label id="lab_us-gaap_RealEstateOwnedTextBlock_label_en-US" xlink:label="lab_us-gaap_RealEstateOwnedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateOwnedTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateOwnedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateOwnedTextBlock" xlink:to="lab_us-gaap_RealEstateOwnedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable_019e22ad-fb09-749c-97de-16ef9a319cd1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:to="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_019e22ad-f99e-71de-8894-084e9d2ee69f_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_us-gaap_CommonStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_019e22ad-f99e-7188-b975-0321e7f7d1e8_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares sold (in shares)</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock, Number of Shares Issued in Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:to="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_019e22ad-fa65-7544-a8d5-d6b60594549b_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortized cost basis</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Individually Evaluated for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:to="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardExrcPrice_terseLabel_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise Price</link:label>
    <link:label id="lab_ecd_AwardExrcPrice_label_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardExrcPrice" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardExrcPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardExrcPrice" xlink:to="lab_ecd_AwardExrcPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedOperatingExpenses_019e22ad-fba0-702e-8446-580d07fe12d4_verboseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Operating expense</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOperatingExpenses_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Operating Expenses</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOperatingExpenses_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Operating Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedOperatingExpenses" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedOperatingExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedOperatingExpenses" xlink:to="lab_bxmt_RealEstateOwnedOperatingExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019e22ad-fb09-7c29-a4e0-ddd9c234a5e3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_019e22ad-fba0-7909-999e-101f23acdcdc_terseLabel_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share repurchase program, authorized, amount</link:label>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_label_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program, Authorized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StockRepurchaseProgramAuthorizedAmount1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:to="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentQuarterlyReport_019e22ad-fba0-79ae-b3cc-ea25b39a81b7_terseLabel_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:label id="lab_dei_DocumentQuarterlyReport_label_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentQuarterlyReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentQuarterlyReport"/>
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    <link:label id="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum_019e22ad-fb09-7316-898e-39f5efd9db4d_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, percentage of recourse indebtedness</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Recourse Indebtedness, Maximum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Recourse Indebtedness, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:to="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_label_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember"/>
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    <link:label id="lab_us-gaap_ProfessionalAndContractServicesExpense_019e22ad-f99e-7a71-8eac-3a16a25c4080_terseLabel_en-US" xlink:label="lab_us-gaap_ProfessionalAndContractServicesExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:label id="lab_us-gaap_ProfessionalAndContractServicesExpense_label_en-US" xlink:label="lab_us-gaap_ProfessionalAndContractServicesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Professional and Contracted Services Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalAndContractServicesExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfessionalAndContractServicesExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfessionalAndContractServicesExpense" xlink:to="lab_us-gaap_ProfessionalAndContractServicesExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanExposureRiskMember_019e22ad-fa65-7016-8011-9629cb04be9f_terseLabel_en-US" xlink:label="lab_bxmt_LoanExposureRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Exposure Risk</link:label>
    <link:label id="lab_bxmt_LoanExposureRiskMember_label_en-US" xlink:label="lab_bxmt_LoanExposureRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Exposure Risk [Member]</link:label>
    <link:label id="lab_bxmt_LoanExposureRiskMember_documentation_en-US" xlink:label="lab_bxmt_LoanExposureRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Exposure Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanExposureRiskMember" xlink:href="bxmt-20260630.xsd#bxmt_LoanExposureRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanExposureRiskMember" xlink:to="lab_bxmt_LoanExposureRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedStockExpense_019e22ad-fba0-7724-a139-5fbee4be1a86_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted class A common stock earned</link:label>
    <link:label id="lab_us-gaap_RestrictedStockExpense_label_en-US" xlink:label="lab_us-gaap_RestrictedStockExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock or Unit Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedStockExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockExpense" xlink:to="lab_us-gaap_RestrictedStockExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements_019e22ad-fba0-7629-b789-5e3e5312ac72_terseLabel_en-US" xlink:label="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of equity distribution agreements</link:label>
    <link:label id="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements_label_en-US" xlink:label="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Number Of Equity Distribution Agreements</link:label>
    <link:label id="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements_documentation_en-US" xlink:label="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Number Of Equity Distribution Agreements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:href="bxmt-20260630.xsd#bxmt_SaleOfStockNumberOfEquityDistributionAgreements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:to="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember_019e22ad-fa65-798d-ae27-04759513b588_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy EUR / Sell USD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy European Dollar Sell United States Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy European Dollar Sell United States Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation_019e22ad-fa66-7e70-992b-ca0947a888fc_terseLabel_en-US" xlink:label="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other components</link:label>
    <link:label id="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Assets Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:href="bxmt-20260630.xsd#bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:to="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_019e22ad-fa65-7b3d-bb11-aec383f9f38c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year four</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansModified_019e22ad-fa65-7a57-ab4c-24faeb46f681_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans modified</link:label>
    <link:label id="lab_bxmt_NumberOfLoansModified_label_en-US" xlink:label="lab_bxmt_NumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans Modified</link:label>
    <link:label id="lab_bxmt_NumberOfLoansModified_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans Modified</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansModified" xlink:href="bxmt-20260630.xsd#bxmt_NumberOfLoansModified"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansModified" xlink:to="lab_bxmt_NumberOfLoansModified" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_019e22ad-f99e-735a-a4fd-893d2bc5f625_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_019e22ad-f99e-721f-8896-da8ff02a9121_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments and repurchases of long-term debt</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_019e22ad-f99e-7ce9-8ca3-66945b648ac8_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repayment of term loan</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepaymentsOfLongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebt" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManagementFeeExpense_019e22ad-fb09-717c-b09a-8415a6d89f43_verboseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Management fees</link:label>
    <link:label id="lab_us-gaap_ManagementFeeExpense_label_en-US" xlink:label="lab_us-gaap_ManagementFeeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManagementFeeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ManagementFeeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeeExpense" xlink:to="lab_us-gaap_ManagementFeeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_019e22ad-fb09-7dfe-9427-3eab75a67991_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs and unamortized discount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_019e22ad-fb09-74fb-ac65-8b3007bad714_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs and unamortized discounts</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Table</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestments_019e22ad-fb09-7151-942f-6a9f50e4a9c3_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated entities (includes $136,158 and $111,010 at fair value as of June&#160;30, 2026 and December&#160;31, 2025, respectively)</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_019e22ad-fb09-7bac-824a-a171876d5eb3_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Book Value</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_019e22ad-fb09-7a0a-92a6-393bf4bdde5f_periodStartLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Equity method investments, beginning balance</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_019e22ad-fb09-7d49-882f-78bb1ae38c8c_periodEndLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Equity method investments, ending balance</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments" xlink:to="lab_us-gaap_EquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityComponentDomain_019e22ad-f99e-736b-9789-6ffd08f92710_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityComponentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate_019e22ad-fb09-7d60-800e-36f8e18fc592_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average cash coupon (percentage)</link:label>
    <link:label id="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate_label_en-US" xlink:label="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LoansReceivableBasisSpreadOnVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:to="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_019e22ad-fb09-78ae-bb0c-678a1be6724a_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeDomain" xlink:to="lab_us-gaap_MeasurementInputTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_019e22ad-fb09-7d0b-a6b4-fb8d9b08b200_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan receivable, net, fair value</link:label>
    <link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LoansReceivableFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableFairValueDisclosure" xlink:to="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignExchangeContractMember_019e22ad-f99e-71cf-8cbb-dbbdf49b462c_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignExchangeContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange contracts</link:label>
    <link:label id="lab_us-gaap_ForeignExchangeContractMember_label_en-US" xlink:label="lab_us-gaap_ForeignExchangeContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignExchangeContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForeignExchangeContractMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignExchangeContractMember" xlink:to="lab_us-gaap_ForeignExchangeContractMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnconsolidatedEntitiesMember_019e22ad-fa65-7dce-b3c6-2cb6733a6557_terseLabel_en-US" xlink:label="lab_bxmt_UnconsolidatedEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated Entities</link:label>
    <link:label id="lab_bxmt_UnconsolidatedEntitiesMember_label_en-US" xlink:label="lab_bxmt_UnconsolidatedEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unconsolidated Entities [Member]</link:label>
    <link:label id="lab_bxmt_UnconsolidatedEntitiesMember_documentation_en-US" xlink:label="lab_bxmt_UnconsolidatedEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unconsolidated Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnconsolidatedEntitiesMember" xlink:href="bxmt-20260630.xsd#bxmt_UnconsolidatedEntitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnconsolidatedEntitiesMember" xlink:to="lab_bxmt_UnconsolidatedEntitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrAdoptionDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adoption Date</link:label>
    <link:label id="lab_ecd_TrdArrAdoptionDate_label_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Adoption Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrAdoptionDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrAdoptionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrAdoptionDate" xlink:to="lab_ecd_TrdArrAdoptionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_019e22ad-fa65-7d3f-9bce-9e50ea935bdf_terseLabel_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_label_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RepurchaseAgreementCounterpartyNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesMidwestMember_019e22ad-fba0-7acc-a8d1-1662ac9d0fc1_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesMidwestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Midwest</link:label>
    <link:label id="lab_bxmt_UnitedStatesMidwestMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesMidwestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Midwest [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesMidwestMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesMidwestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States Midwest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesMidwestMember" xlink:href="bxmt-20260630.xsd#bxmt_UnitedStatesMidwestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesMidwestMember" xlink:to="lab_bxmt_UnitedStatesMidwestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UniqueLoansMember_019e22ad-fa65-78cb-86c5-dc59ee5ec183_terseLabel_en-US" xlink:label="lab_bxmt_UniqueLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unique Loans</link:label>
    <link:label id="lab_bxmt_UniqueLoansMember_label_en-US" xlink:label="lab_bxmt_UniqueLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unique Loans [Member]</link:label>
    <link:label id="lab_bxmt_UniqueLoansMember_documentation_en-US" xlink:label="lab_bxmt_UniqueLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unique Loans.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UniqueLoansMember" xlink:href="bxmt-20260630.xsd#bxmt_UniqueLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UniqueLoansMember" xlink:to="lab_bxmt_UniqueLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndTitle_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title</link:label>
    <link:label id="lab_ecd_TrdArrIndTitle_label_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Title</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndTitle" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndTitle" xlink:to="lab_ecd_TrdArrIndTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_019e22ad-fa66-7e39-8fd4-29291e5b2ee9_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_terseLabel_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement does not require Recovery</link:label>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_label_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Does Not Require Recovery [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:to="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeAverageRemainingMaturity1_019e22ad-fa66-728a-ba45-854a632e5339_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity (Years)</link:label>
    <link:label id="lab_us-gaap_DerivativeAverageRemainingMaturity1_label_en-US" xlink:label="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Average Remaining Maturity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAverageRemainingMaturity1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeAverageRemainingMaturity1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAverageRemainingMaturity1" xlink:to="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LongTermDebtNumberOfLoans_019e22ad-f99e-7d77-814d-c86ed21b7aef_terseLabel_en-US" xlink:label="lab_bxmt_LongTermDebtNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count</link:label>
    <link:label id="lab_bxmt_LongTermDebtNumberOfLoans_label_en-US" xlink:label="lab_bxmt_LongTermDebtNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Number Of Loans</link:label>
    <link:label id="lab_bxmt_LongTermDebtNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_LongTermDebtNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LongTermDebtNumberOfLoans" xlink:href="bxmt-20260630.xsd#bxmt_LongTermDebtNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LongTermDebtNumberOfLoans" xlink:to="lab_bxmt_LongTermDebtNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:to="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableMember_019e22ad-fa66-7d8f-be8a-ac4a51ccbbc0_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total loans receivable</link:label>
    <link:label id="lab_us-gaap_LoansReceivableMember_label_en-US" xlink:label="lab_us-gaap_LoansReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LoansReceivableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableMember" xlink:to="lab_us-gaap_LoansReceivableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossLineItems_019e22ad-fa66-71fb-8041-17d91f64c602_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Line Items]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MezzanineLoanMember_019e22ad-fba0-7aed-9ed8-2bc577f11b19_terseLabel_en-US" xlink:label="lab_bxmt_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mezzanine Loan</link:label>
    <link:label id="lab_bxmt_MezzanineLoanMember_label_en-US" xlink:label="lab_bxmt_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mezzanine Loan [Member]</link:label>
    <link:label id="lab_bxmt_MezzanineLoanMember_documentation_en-US" xlink:label="lab_bxmt_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mezzanine Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MezzanineLoanMember" xlink:href="bxmt-20260630.xsd#bxmt_MezzanineLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MezzanineLoanMember" xlink:to="lab_bxmt_MezzanineLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsFeePercentage_019e22ad-fba0-7ce3-a5f5-88a6fb11afb0_terseLabel_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management core earnings fee percentage</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsFeePercentage_label_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings Fee, Percentage</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsFeePercentage_documentation_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings Fee, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:href="bxmt-20260630.xsd#bxmt_ManagementFeeCoreEarningsFeePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:to="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate_019e22ad-f99e-737c-8735-9133f97d2458_terseLabel_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of loans by principal balance, fixed rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate_label_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Fixed Rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate_documentation_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Fixed Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:href="bxmt-20260630.xsd#bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:to="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_019e22ad-fba0-7d8c-81cb-f59fedc89434_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsNetIncomeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_019e22ad-f99e-744e-8f72-60ceda301f7a_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental revenue</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLeaseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:to="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_WeightedAverageMember_019e22ad-fb09-73d3-8de3-a3ed61731343_terseLabel_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average</link:label>
    <link:label id="lab_srt_WeightedAverageMember_label_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_WeightedAverageMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_WeightedAverageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_WeightedAverageMember" xlink:to="lab_srt_WeightedAverageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings_019e22ad-f99e-7d18-b2ef-a16e64588d32_terseLabel_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate unfunded loan commitments</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings_label_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Committed Financings</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings_documentation_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Committed Financings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:href="bxmt-20260630.xsd#bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:to="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllAdjToCompMember_terseLabel_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation</link:label>
    <link:label id="lab_ecd_AllAdjToCompMember_label_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllAdjToCompMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllAdjToCompMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllAdjToCompMember" xlink:to="lab_ecd_AllAdjToCompMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_019e22ad-fa65-7e68-86fd-00f9488d6577_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_019e22ad-fba0-7801-b5f6-0c054a93695f_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_019e22ad-fa66-7c13-b363-754fd736e9aa_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentTransitionReport_019e22ad-fb09-7c49-acfa-716d4602c35c_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentTransitionReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensationStock_019e22ad-fa65-79f0-8b17-35ffbcf7cc58_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation paid in the form of deferred stock units</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationStock_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Stock</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationStock_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensationStock" xlink:href="bxmt-20260630.xsd#bxmt_AnnualDirectorCompensationStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AnnualDirectorCompensationStock" xlink:to="lab_bxmt_AnnualDirectorCompensationStock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesSunbeltMember_019e22ad-fb09-762c-a394-6bdd7c3692a5_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesSunbeltMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sunbelt</link:label>
    <link:label id="lab_bxmt_UnitedStatesSunbeltMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesSunbeltMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Sunbelt [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesSunbeltMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesSunbeltMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States, Sunbelt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesSunbeltMember" xlink:href="bxmt-20260630.xsd#bxmt_UnitedStatesSunbeltMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesSunbeltMember" xlink:to="lab_bxmt_UnitedStatesSunbeltMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs)</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockAppreciationRightsSARSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture2Member_019e22ad-fa65-7967-8cde-9b6961ab18e7_terseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 2</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture2Member_label_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 2 [Member]</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture2Member_documentation_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 2</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BankLoanPortfolioJointVenture2Member" xlink:href="bxmt-20260630.xsd#bxmt_BankLoanPortfolioJointVenture2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BankLoanPortfolioJointVenture2Member" xlink:to="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_USD_019e22ad-fba0-7b80-bec2-e716aeda9368_terseLabel_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">USD</link:label>
    <link:label id="lab_currency_USD_019e22ad-fba0-763a-ba96-8a1faac5cf89_verboseLabel_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">USD</link:label>
    <link:label id="lab_currency_USD_label_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States of America, Dollars</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_USD" xlink:href="https://xbrl.sec.gov/currency/2026/currency-2026.xsd#currency_USD"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_USD" xlink:to="lab_currency_USD" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_019e22ad-fba0-7c99-8510-d83f760dcc15_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OtherPropertyMember_019e22ad-fb09-713d-b8b2-c3057a5eaffd_terseLabel_en-US" xlink:label="lab_srt_OtherPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_srt_OtherPropertyMember_label_en-US" xlink:label="lab_srt_OtherPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OtherPropertyMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OtherPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OtherPropertyMember" xlink:to="lab_srt_OtherPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired_019e22ad-fb9f-77b6-85ab-24a38e85095c_terseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loan portfolio acquired</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Number Of Portfolios Acquired</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Number Of Portfolios Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired" xlink:href="bxmt-20260630.xsd#bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired" xlink:to="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryIndName" xlink:to="lab_ecd_ForgoneRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RelatedPartyTransactionRenewalTerm_019e22ad-fa65-7601-a7c5-db9af47337d5_terseLabel_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Renewal term (in years)</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionRenewalTerm_label_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Renewal Term</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionRenewalTerm_documentation_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Renewal Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RelatedPartyTransactionRenewalTerm" xlink:href="bxmt-20260630.xsd#bxmt_RelatedPartyTransactionRenewalTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RelatedPartyTransactionRenewalTerm" xlink:to="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description</link:label>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_label_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonGaapMeasureDescriptionTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:to="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_019e22ad-fa65-75f0-8f2c-3c2773b8e935_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Grant Date Fair Value Per Share</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityDomain_019e22ad-fb09-7c64-9409-19edcefefdca_terseLabel_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable2.01To3.00FloorMember_019e22ad-fb09-767c-a56b-d43a9f4214d1_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2.01% to 3.00% floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable2.01To3.00FloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 2.01% To 3.00% Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable2.01To3.00FloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 2.01% To 3.00% Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivable2.01To3.00FloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:to="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_019e22ad-fb09-71b2-a3e0-93354fca8f36_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued" xlink:to="lab_us-gaap_PreferredStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable0.00OrNoFloorMember_019e22ad-fba0-7b46-9450-84d8b3f7e3f3_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">0.00% or no floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.00OrNoFloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.00% Or No Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.00OrNoFloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.00% Or No Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivable0.00OrNoFloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:to="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_019e22ad-f99e-7cb5-977e-f95b0aa025d4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:to="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_019e22ad-fa65-78a7-becb-3842e09d21be_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities_019e22ad-fb9f-76e9-bd54-047658e3437e_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and other liabilities</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable and Other Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsPayableAndOtherAccruedLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:to="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_019e22ad-fba0-7701-b40a-bb55acfccb48_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_019e22ad-fba0-748d-871b-3ab218308b09_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_019e22ad-fba0-7469-b5c6-06c40092ea86_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Issuance of class A common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_019e22ad-fb09-70fd-8fb7-04e844d6991d_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_019e22ad-fb09-7a16-9b86-0b4327148dc3_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-Market Lease Intangible Assets [Abstract]</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:to="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_019e22ad-fb09-79cd-9ca0-ce28eaeacdc2_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation_019e22ad-fb09-77c7-a03e-5cc2224fc54d_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Additional Compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Additional Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:href="bxmt-20260630.xsd#bxmt_AnnualDirectorCompensationAdditionalCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:to="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CapitalExpenditureRealEstateOwned_019e22ad-fa65-7afd-937e-d2b2671dbb00_terseLabel_en-US" xlink:label="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures on owned real estate</link:label>
    <link:label id="lab_bxmt_CapitalExpenditureRealEstateOwned_label_en-US" xlink:label="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditure, Real Estate Owned</link:label>
    <link:label id="lab_bxmt_CapitalExpenditureRealEstateOwned_documentation_en-US" xlink:label="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Expenditure, Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CapitalExpenditureRealEstateOwned" xlink:href="bxmt-20260630.xsd#bxmt_CapitalExpenditureRealEstateOwned"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CapitalExpenditureRealEstateOwned" xlink:to="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BREHotelsResortsLLCMember_019e22ad-fb09-7200-a166-63b4826b7ae2_terseLabel_en-US" xlink:label="lab_bxmt_BREHotelsResortsLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BRE Hotels &amp; Resorts, LLC</link:label>
    <link:label id="lab_bxmt_BREHotelsResortsLLCMember_label_en-US" xlink:label="lab_bxmt_BREHotelsResortsLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BRE Hotels &amp; Resorts, LLC [Member]</link:label>
    <link:label id="lab_bxmt_BREHotelsResortsLLCMember_documentation_en-US" xlink:label="lab_bxmt_BREHotelsResortsLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BRE Hotels &amp; Resorts, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BREHotelsResortsLLCMember" xlink:href="bxmt-20260630.xsd#bxmt_BREHotelsResortsLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BREHotelsResortsLLCMember" xlink:to="lab_bxmt_BREHotelsResortsLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_019e22ad-fba0-7b5a-b780-75754d90984b_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_019e22ad-fb09-7efe-89b2-3ee19869f50b_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underwriting Commissions and Offering Costs</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityPolicyTextBlock" xlink:to="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompRecoveryTable_terseLabel_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery</link:label>
    <link:label id="lab_ecd_ErrCompRecoveryTable_label_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompRecoveryTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompRecoveryTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompRecoveryTable" xlink:to="lab_ecd_ErrCompRecoveryTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueRecognitionInterest_019e22ad-f99e-772e-808d-be556269d8bc_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue Recognition</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionInterest_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Interest [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueRecognitionInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenueRecognitionInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionInterest" xlink:to="lab_us-gaap_RevenueRecognitionInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCurrentReportingStatus_019e22ad-f99e-7305-8df6-8116715ff125_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCurrentReportingStatus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus" xlink:to="lab_dei_EntityCurrentReportingStatus" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_019e22ad-f99e-7bf7-a9c4-57324b03518b_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash (used in) provided by financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnAmt" xlink:to="lab_ecd_TotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_019e22ad-fa65-7f13-ba00-66d725d5c111_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Fair Value Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashFlowHedgingMember_019e22ad-fba0-77ae-9b40-80b4eba4c857_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowHedgingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flow Hedges</link:label>
    <link:label id="lab_us-gaap_CashFlowHedgingMember_label_en-US" xlink:label="lab_us-gaap_CashFlowHedgingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Flow Hedging [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashFlowHedgingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashFlowHedgingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowHedgingMember" xlink:to="lab_us-gaap_CashFlowHedgingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_019e22ad-fb09-7c21-92a1-b9f88e8631fc_negatedLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cumulative unrealized currency translation adjustment on assets and liabilities denominated in foreign currencies</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital_019e22ad-fa65-71fb-b87f-5b09c09e5f03_negatedTerseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions</link:label>
    <link:label id="lab_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital_label_en-US" xlink:label="lab_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution Including Return of Capital</link:label>
    <link:label id="lab_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution Including Return of Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital" xlink:href="bxmt-20260630.xsd#bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital" xlink:to="lab_bxmt_ProceedsFromEquityMethodInvestmentDistributionIncludingReturnOfCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax_019e22ad-fa66-76e5-8547-39ebef1dd20b_totalLabel_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax_label_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow And Net Investment Hedge, Gain (Loss), Reclassification, Before Tax</link:label>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax_documentation_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow And Net Investment Hedge, Gain (Loss), Reclassification, Before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:href="bxmt-20260630.xsd#bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:to="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LexingtonNationalLandServicesMember_019e22ad-fba0-7e5e-8236-6f88cc1bfede_terseLabel_en-US" xlink:label="lab_bxmt_LexingtonNationalLandServicesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lexington National Land Services</link:label>
    <link:label id="lab_bxmt_LexingtonNationalLandServicesMember_label_en-US" xlink:label="lab_bxmt_LexingtonNationalLandServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lexington National Land Services [Member]</link:label>
    <link:label id="lab_bxmt_LexingtonNationalLandServicesMember_documentation_en-US" xlink:label="lab_bxmt_LexingtonNationalLandServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lexington National Land Services</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LexingtonNationalLandServicesMember" xlink:href="bxmt-20260630.xsd#bxmt_LexingtonNationalLandServicesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LexingtonNationalLandServicesMember" xlink:to="lab_bxmt_LexingtonNationalLandServicesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansAxis_019e22ad-fba0-74bf-89c4-0645d4217487_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number Of Loans [Axis]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansAxis_label_en-US" xlink:label="lab_bxmt_NumberOfLoansAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans [Axis]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansAxis_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansAxis" xlink:href="bxmt-20260630.xsd#bxmt_NumberOfLoansAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansAxis" xlink:to="lab_bxmt_NumberOfLoansAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_019e22ad-fba0-76bb-a0ec-06b440f9ddb4_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net (loss) income to net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_019e22ad-fba0-7210-97a4-e642eb527584_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_019e22ad-fb09-7107-b38d-063fa3c15f01_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_019e22ad-fb09-7e31-b105-b62a7d46d690_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_label_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Lenders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentNumberOfLenders" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentNumberOfLenders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentNumberOfLenders" xlink:to="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification_019e22ad-f99e-7887-97d5-b698cc3f6f08_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension term</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Weighted-Average Term Increase from Modification</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:to="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_019e22ad-fa66-7491-9caf-7a5e17443cbe_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherInternationalMember_019e22ad-fa65-7d51-b116-58b7ae7347d0_terseLabel_en-US" xlink:label="lab_bxmt_OtherInternationalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other International</link:label>
    <link:label id="lab_bxmt_OtherInternationalMember_label_en-US" xlink:label="lab_bxmt_OtherInternationalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other International [Member]</link:label>
    <link:label id="lab_bxmt_OtherInternationalMember_documentation_en-US" xlink:label="lab_bxmt_OtherInternationalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other International</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherInternationalMember" xlink:href="bxmt-20260630.xsd#bxmt_OtherInternationalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherInternationalMember" xlink:to="lab_bxmt_OtherInternationalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear_019e22ad-fb9f-7ff7-b79e-9557058fccba_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year five</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeAssets_019e22ad-fba0-74d1-8340-22fd1799cf19_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative assets</link:label>
    <link:label id="lab_us-gaap_DerivativeAssets_019e22ad-fba0-7e77-bc77-4dc2caf62986_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivatives</link:label>
    <link:label id="lab_us-gaap_DerivativeAssets_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets" xlink:to="lab_us-gaap_DerivativeAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_019e22ad-f99e-7739-8ff3-8653cd969a03_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_terseLabel_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Securities</link:label>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_label_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Underlying Securities Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardUndrlygSecuritiesAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:to="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_019e22ad-fa66-780e-86be-0650d330be2b_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive loss (income) attributable to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_019e22ad-fba0-7c94-b7c6-2648cefd7e06_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares of class A common stock issued, net</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities_019e22ad-fa66-736d-a297-4881843677b1_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumption of other assets and liabilities related to owned real estate</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Assumption Of Other Assets And Liabilities</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Assumption Of Other Assets And Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:to="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_019e22ad-fb09-7540-99e9-d46a73575c39_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares available under plan (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance_019e22ad-fa65-74c4-ba1b-8f53818fc5ee_terseLabel_en-US" xlink:label="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt repayments pending servicer remittance</link:label>
    <link:label id="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance_label_en-US" xlink:label="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt Repayments Pending Servicer Remittance</link:label>
    <link:label id="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance_documentation_en-US" xlink:label="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured debt repayments pending servicer remittance.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:href="bxmt-20260630.xsd#bxmt_SecuredDebtRepaymentsPendingServicerRemittance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:to="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentsNumberOfProperties_019e22ad-fb09-76b7-8052-0cde4d7a9b0d_terseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Assets</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsNumberOfProperties_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Number Of Properties</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsNumberOfProperties_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Number Of Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:href="bxmt-20260630.xsd#bxmt_EquityMethodInvestmentsNumberOfProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:to="lab_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivablesMember_019e22ad-fba0-775a-8ca2-25c860bd1a99_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivables</link:label>
    <link:label id="lab_bxmt_FinancingReceivablesMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivables [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivablesMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivablesMember" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivablesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivablesMember" xlink:to="lab_bxmt_FinancingReceivablesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019e22ad-fa65-7de1-9c1e-1c928d6504f3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod_019e22ad-fa65-7e7b-9e9a-25cd28414c39_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate amortized cost basis of loans</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_019e22ad-fb09-76e6-b4d7-9a75846e75b8_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Instruments</link:label>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_label_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Number of Instruments Held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeNumberOfInstrumentsHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:to="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_019e22ad-fba0-7a6c-9d23-25e99f0c2c67_verboseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unfunded loan commitments</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_019e22ad-fba0-707c-b6a8-976d47f64de1_terseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current expected credit loss reserves for unfunded loan commitments</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffBalanceSheetCreditLossLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiability" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OciEquityMethodInvestmentAfterTax_019e22ad-fb09-7c0e-b9ba-9d25f264f469_terseLabel_en-US" xlink:label="lab_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on derivative financial instruments from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_OciEquityMethodInvestmentAfterTax_019e22ad-fb09-7e1d-a1a3-a3a786b0eff9_verboseLabel_en-US" xlink:label="lab_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income</link:label>
    <link:label id="lab_us-gaap_OciEquityMethodInvestmentAfterTax_label_en-US" xlink:label="lab_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">OCI, Equity Method Investment, after Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OciEquityMethodInvestmentAfterTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:to="lab_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MarketableSecuritiesPolicy_019e22ad-fb09-7175-876e-869dc7689000_terseLabel_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Securities</link:label>
    <link:label id="lab_us-gaap_MarketableSecuritiesPolicy_label_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Marketable Securities, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketableSecuritiesPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MarketableSecuritiesPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketableSecuritiesPolicy" xlink:to="lab_us-gaap_MarketableSecuritiesPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2031Member_019eca6f-d08d-7514-ac34-baff56168697_terseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2031Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">May 2026</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2031Member_label_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2031Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Notes, Due 2031 [Member]</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2031Member_documentation_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2031Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Secured Notes, Due 2031</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorSecuredNotesDue2031Member" xlink:href="bxmt-20260630.xsd#bxmt_SeniorSecuredNotesDue2031Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorSecuredNotesDue2031Member" xlink:to="lab_bxmt_SeniorSecuredNotesDue2031Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_019e22ad-f99d-7221-8530-a5e5d71e7dd9_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllTradingArrangementsMember_terseLabel_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Trading Arrangements</link:label>
    <link:label id="lab_ecd_AllTradingArrangementsMember_label_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Trading Arrangements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllTradingArrangementsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllTradingArrangementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllTradingArrangementsMember" xlink:to="lab_ecd_AllTradingArrangementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_label_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OtherPerfMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OtherPerfMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OtherPerfMeasureAmt" xlink:to="lab_ecd_OtherPerfMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiCnsdrdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:to="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_019e22ad-fba0-7a16-b7a8-b6123e03da9d_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CurrentFiscalYearEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet_019e22ad-fa65-7299-b7dd-4a1c698666a2_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Decrease) increase in net CECL reserve</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Period Increase (Decrease) And Writeoff, Net</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Period Increase (Decrease) And Writeoff, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:to="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_019e22ad-fba0-7025-9565-fa4050a7273a_negatedLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Increase in current expected credit loss reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_019e22ad-fba0-7c21-865e-6aeef653fa7c_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in current expected credit loss reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeLineItems_019e22ad-fb09-72fc-8c25-8ec2b3953567_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative [Line Items]</link:label>
    <link:label id="lab_us-gaap_DerivativeLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLineItems" xlink:to="lab_us-gaap_DerivativeLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_019e22ad-fa65-7ad8-b247-441ee86e78b7_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_019e22ad-fa65-7109-ad2e-1ad96a19ce28_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchase of class A common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedDuringPeriodShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFiveMember_019e22ad-fb09-72db-bfe7-8c0bb862e115_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Five</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFiveMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Five [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFiveMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanFiveMember" xlink:href="bxmt-20260630.xsd#bxmt_ExtendedMaturityLoanFiveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanFiveMember" xlink:to="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year</link:label>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:to="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_019e22ad-fa66-71e5-8748-f083372ebacf_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared on common stock and deferred stock units (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFileNumber_019e22ad-fa65-71aa-b5d9-298302234a65_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_019e22ad-f99e-7d2d-b160-65c999de3bc3_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_019e22ad-fba0-74a2-8548-0c608dba32a8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax_019e22ad-fa65-7466-aac4-30108a1d8b73_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate derivatives</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RecoveryOfErrCompDisclosureLineItems_label_en-US" xlink:label="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recovery of Erroneously Awarded Compensation Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RecoveryOfErrCompDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:to="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeniorNotes_019e22ad-fba0-7fc2-89a0-66dda2ca3e0d_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior secured notes, net</link:label>
    <link:label id="lab_us-gaap_SeniorNotes_label_en-US" xlink:label="lab_us-gaap_SeniorNotes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorNotes" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeniorNotes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotes" xlink:to="lab_us-gaap_SeniorNotes" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureAxis_terseLabel_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measure:</link:label>
    <link:label id="lab_ecd_MeasureAxis_label_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureAxis"/>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_019e22ad-fb9f-7989-b7ec-bad876020325_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_019e22ad-fa65-7641-826e-df109c3da4fa_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Assets and Liabilities of Consolidated VIE</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfNewLoansImpaired_019e22ad-fb09-7873-aa40-2e21baccc4c5_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfNewLoansImpaired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of new loans impaired</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfNewLoansImpaired_label_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfNewLoansImpaired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of New Loans Impaired</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfNewLoansImpaired_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfNewLoansImpaired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of New Loans Impaired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableNumberOfNewLoansImpaired" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableNumberOfNewLoansImpaired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableNumberOfNewLoansImpaired" xlink:to="lab_bxmt_FinancingReceivableNumberOfNewLoansImpaired" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum_019e22ad-f99e-71fd-acd6-71b1716bcb68_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total debt to total assets ratio</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Debt to Total Assets, Maximum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Debt to Total Assets, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:to="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:type="arc" order="1"/>
    <link:label id="lab_country_ES_019e22ad-fb09-7396-bc9e-6dd9aaa761af_terseLabel_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Spain</link:label>
    <link:label id="lab_country_ES_label_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SPAIN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_ES" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_ES"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_ES" xlink:to="lab_country_ES" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember_019e22ad-fba0-717b-a36a-018abc04fd00_terseLabel_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC and Revantage Global Services Europe S.&#224; r.l, EQ Management, LLC, BRE Hotels &amp; Resorts, LLC LivCor, LLC, NNN PortCo - Reliant</link:label>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember_label_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, (UK) &amp; (AUS) Pty Ltd, Revantage Corporate and Global Services Europe S.&#224; r.l., Perform Properties, LLC, LivCor, LLC, BRE Hotels &amp; Resorts, LLC &amp; LendingOne, LLC [Member]</link:label>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember_documentation_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, (UK) Ltd., and (AUS) Pty Ltd, Revantage Corporate Services, LLC and Revantage Global Services Europe S.&#224; r.l, Perform Properties, LLC, LivCor, LLC, BRE Hotels &amp; Resorts, LLC &amp; LendingOne, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:href="bxmt-20260630.xsd#bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:to="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_019e22ad-fb9f-7648-94f0-d3759cb12fb1_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyMember_019e22ad-f99e-7df7-a155-0d94548df9a8_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party</link:label>
    <link:label id="lab_us-gaap_RelatedPartyMember_label_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyMember" xlink:to="lab_us-gaap_RelatedPartyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_019e22ad-fb09-7669-beea-3550dedccea7_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Asset Acquisition</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:to="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_019e22ad-fa66-7ffb-b0ba-51962f00ae51_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments of income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Paid, after Refund Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxesPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaidNet" xlink:to="lab_us-gaap_IncomeTaxesPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember_019e22ad-fa65-7f5c-8315-66e65946df9e_terseLabel_en-US" xlink:label="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gryphon Mutual Property Americas IC</link:label>
    <link:label id="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember_label_en-US" xlink:label="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gryphon Mutual Property America IC ("Gryphon") [Member]</link:label>
    <link:label id="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember_documentation_en-US" xlink:label="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gryphon Mutual Property America IC ("Gryphon")</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:href="bxmt-20260630.xsd#bxmt_GryphonMutualPropertyAmericaICGryphonMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:to="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonClassAMember_019e22ad-fba0-77c8-992c-1ef35f38fa3a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonClassAMember_label_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class A [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonClassAMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonClassAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonClassAMember" xlink:to="lab_us-gaap_CommonClassAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_019e22ad-fa65-757e-85fc-e0ddfa0ed9ec_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableRateAxis_019e22ad-f99e-7cbf-9890-a3d30ee925fe_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableRateAxis_label_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableRateAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableRateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateAxis" xlink:to="lab_us-gaap_VariableRateAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_019e22ad-fa65-7189-8bce-ef5d4d8623d3_negatedLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net loss (income) attributable to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitySmallBusiness_019e22ad-fb09-7fb3-ac5f-8dae61bde617_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitySmallBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments_019e22ad-fb9f-7e0f-af8c-2483a96ff6b4_terseLabel_en-US" xlink:label="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative settlements and accruals</link:label>
    <link:label id="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments_label_en-US" xlink:label="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Settlements and Accruals of Fair Value Hedging Instruments</link:label>
    <link:label id="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments_documentation_en-US" xlink:label="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Settlements and Accruals of Fair Value Hedging Instruments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:href="bxmt-20260630.xsd#bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:to="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_019e22ad-fb09-70b2-ae33-17865ad9d671_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive (loss) income attributable to Blackstone Mortgage Trust, Inc.</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember_019e22ad-fb9f-7a8e-9a47-e93a47577e0d_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell SEK Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Swedish Krona [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign exchange contract buy inited states dollar sell swedish krona.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:href="bxmt-20260630.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm_019e22ad-f99e-77e0-b9c2-cdc1c2288f04_terseLabel_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average future funding period (in years)</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm_label_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Term</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm_documentation_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:href="bxmt-20260630.xsd#bxmt_OffBalanceSheetCreditLossLiabilityTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:to="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstate_019e22ad-fa66-703c-9abc-5f18a55fc77b_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstate_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleOfRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfRealEstate" xlink:to="lab_us-gaap_ProceedsFromSaleOfRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_terseLabel_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value</link:label>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_label_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MnpiDiscTimedForCompValFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:to="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember_019f8ac2-3c77-796f-806f-dde3a7308d69_terseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture and Homebuilder Finance Joint Venture</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember_label_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture and Homebuilder Finance Joint Venture [Member]</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember_documentation_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture and Homebuilder Finance Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember" xlink:href="bxmt-20260630.xsd#bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember" xlink:to="lab_bxmt_BankLoanPortfolioJointVentureAndHomebuilderFinanceJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_019e22ad-f99e-74a0-8981-c950b888eecf_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_019e22ad-fa66-7ed6-87da-9210a558b821_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
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    <link:label id="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum_019e22ad-fba0-7337-9aca-7795001d84a6_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, minimum cash liquidity amount</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity, Minimum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantCashLiquidityMinimum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:to="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaidInKindInterest_019e22ad-fb9f-7da9-b8f6-64d84e880f9d_netLabel_en-US" xlink:label="lab_us-gaap_PaidInKindInterest" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Payment-in-kind interest, net of interest received</link:label>
    <link:label id="lab_us-gaap_PaidInKindInterest_label_en-US" xlink:label="lab_us-gaap_PaidInKindInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Paid-in-Kind Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaidInKindInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaidInKindInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaidInKindInterest" xlink:to="lab_us-gaap_PaidInKindInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_019e22ad-fa65-7597-90df-17108602023c_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receipts under derivative financial instruments</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:to="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_019e22ad-f99e-72f0-a9f0-b2148a61c7c4_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized (loss) gain on foreign currency translation</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax"/>
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    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_019e22ad-fa65-7aa4-a65e-c52ad671fbd3_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_019e22ad-fba0-7461-b102-550c1158152c_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings under long-term debt</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LocalPhoneNumber_019e22ad-fba0-7152-a890-dc4cf31c2065_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_country_CA_019e22ad-fb9f-7fac-809f-299d15828d56_terseLabel_en-US" xlink:label="lab_country_CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canada</link:label>
    <link:label id="lab_country_CA_label_en-US" xlink:label="lab_country_CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CANADA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_CA" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_CA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CA" xlink:to="lab_country_CA" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_019e22ad-fb09-764b-9f7e-8c1e18ca640b_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face amount of loans</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateFaceAmountOfMortgages"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:to="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingThreeMember_019e22ad-fba0-728b-b939-6e9c7feedd2a_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">3</link:label>
    <link:label id="lab_bxmt_RiskRatingThreeMember_019e22ad-fba0-72ea-a004-16b57ce09a68_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">3</link:label>
    <link:label id="lab_bxmt_RiskRatingThreeMember_label_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, Three [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingThreeMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating Three [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingThreeMember" xlink:href="bxmt-20260630.xsd#bxmt_RiskRatingThreeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingThreeMember" xlink:to="lab_bxmt_RiskRatingThreeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_019e22ad-fba0-7e21-a1c4-a6832f581840_terseLabel_en-US" xlink:label="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_label_en-US" xlink:label="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, after Year Four</link:label>
    <link:label id="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, after Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:href="bxmt-20260630.xsd#bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:to="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetInvestmentHedgingMember_019e22ad-fb09-7c96-bc17-bda020547207_terseLabel_en-US" xlink:label="lab_us-gaap_NetInvestmentHedgingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Investment Hedges</link:label>
    <link:label id="lab_us-gaap_NetInvestmentHedgingMember_label_en-US" xlink:label="lab_us-gaap_NetInvestmentHedgingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Investment Hedging [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetInvestmentHedgingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetInvestmentHedgingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetInvestmentHedgingMember" xlink:to="lab_us-gaap_NetInvestmentHedgingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_019e22ad-fba0-7403-9ea4-37b18a9a338d_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">(Loss) income before income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_019e22ad-fa65-7e85-8636-5dd5a6fa1e77_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies (Note 21)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote</link:label>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_label_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChangedPeerGroupFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:to="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_019e22ad-f99e-776c-83ff-333458c0e944_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_terseLabel_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Executive Category:</link:label>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_label_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Executive Category [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ExecutiveCategoryAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ExecutiveCategoryAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ExecutiveCategoryAxis" xlink:to="lab_ecd_ExecutiveCategoryAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_019e22ad-fa65-7cf2-a92a-2a46093cfad5_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_label_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_019e22ad-fb09-78e8-a11e-8250157ca76a_terseLabel_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and building improvements</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:href="bxmt-20260630.xsd#bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:to="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_CounterpartyNameAxis_019e22ad-fb09-78ba-b6a7-ec18f0c7411b_terseLabel_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:label id="lab_srt_CounterpartyNameAxis_label_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CounterpartyNameAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_CounterpartyNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CounterpartyNameAxis" xlink:to="lab_srt_CounterpartyNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019e22ad-fb09-7341-bbde-116eb55b1f08_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent_019e22ad-fba0-7f7c-899d-2fa1bbad93e9_terseLabel_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recourse Limitation</link:label>
    <link:label id="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent_label_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Recourse Limitation, Percent</link:label>
    <link:label id="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent_documentation_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Recourse Limitation, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LineOfCreditFacilityRecourseLimitationPercent" xlink:href="bxmt-20260630.xsd#bxmt_LineOfCreditFacilityRecourseLimitationPercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LineOfCreditFacilityRecourseLimitationPercent" xlink:to="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent" xlink:type="arc" order="1"/>
    <link:label id="lab_country_AU_019e22ad-fb09-743b-8948-5c01ce035e06_terseLabel_en-US" xlink:label="lab_country_AU" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Australia</link:label>
    <link:label id="lab_country_AU_label_en-US" xlink:label="lab_country_AU" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AUSTRALIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_AU" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_AU"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_AU" xlink:to="lab_country_AU" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansHeldForSaleMeasurementInput_019e22ad-fa66-79e0-9da9-480530227ec2_terseLabel_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement input</link:label>
    <link:label id="lab_us-gaap_LoansHeldForSaleMeasurementInput_label_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan, Held-for-Sale, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansHeldForSaleMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LoansHeldForSaleMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansHeldForSaleMeasurementInput" xlink:to="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_019e22ad-fa65-78a8-9acf-4a20ddc390a2_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PerformingLoanInTechnicalDefaultMember_019e22ad-fba0-7427-8b64-69e65dc88a7e_terseLabel_en-US" xlink:label="lab_bxmt_PerformingLoanInTechnicalDefaultMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performing Loan in Technical Default</link:label>
    <link:label id="lab_bxmt_PerformingLoanInTechnicalDefaultMember_label_en-US" xlink:label="lab_bxmt_PerformingLoanInTechnicalDefaultMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performing Loan in Technical Default [Member]</link:label>
    <link:label id="lab_bxmt_PerformingLoanInTechnicalDefaultMember_documentation_en-US" xlink:label="lab_bxmt_PerformingLoanInTechnicalDefaultMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performing Loan in Technical Default</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PerformingLoanInTechnicalDefaultMember" xlink:href="bxmt-20260630.xsd#bxmt_PerformingLoanInTechnicalDefaultMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PerformingLoanInTechnicalDefaultMember" xlink:to="lab_bxmt_PerformingLoanInTechnicalDefaultMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability_019e22ad-fb09-7df1-920b-9b2e15f42f1d_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded loan commitments</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability_label_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Off Balance Sheet Liability</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Off Balance Sheet Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableModifiedOffBalanceSheetLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:to="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:to="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract_019e22ad-fb9f-7764-8d68-8aff11a109ff_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_019e22ad-f99e-7e6f-959c-9788beb53db4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_019e22ad-f99e-7ba7-acbc-0efb755d5b3e_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of cash flows information</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoName_terseLabel_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:label id="lab_ecd_PeoName_label_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoName" xlink:to="lab_ecd_PeoName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentWeightedAverageAllInYield_019e22ad-fb09-7ea8-b667-6e1209612880_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. All-in Yield (percentage)</link:label>
    <link:label id="lab_bxmt_DebtInstrumentWeightedAverageAllInYield_label_en-US" xlink:label="lab_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Weighted Average All In Yield</link:label>
    <link:label id="lab_bxmt_DebtInstrumentWeightedAverageAllInYield_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt instrument weighted average all in yield.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentWeightedAverageAllInYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:to="lab_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeaseholdImprovementsMember_019e22ad-fba0-711d-970c-f5e671fe8232_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasehold Improvements</link:label>
    <link:label id="lab_us-gaap_LeaseholdImprovementsMember_label_en-US" xlink:label="lab_us-gaap_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leasehold Improvements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseholdImprovementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeaseholdImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseholdImprovementsMember" xlink:to="lab_us-gaap_LeaseholdImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_019e22ad-fba0-735e-8158-d92190df84e9_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019e22ad-fb09-7021-b92d-9d3b5f4c1523_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method</link:label>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_label_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:to="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_019e22ad-fba0-73b6-bdfd-804535270b5c_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_019e22ad-fba0-718a-86ba-5fa6795717bd_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_019e22ad-fba0-7f10-810f-3873a02337a8_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Realized and unrealized gain (loss) on derivative financial instruments</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManagementFeePayable_019e22ad-fa66-7b57-9e84-4f729f98b21f_verboseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeePayable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accrued management fees payable</link:label>
    <link:label id="lab_us-gaap_ManagementFeePayable_019e22ad-fa66-723b-ba1e-7d9a889a59fc_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeePayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee payable</link:label>
    <link:label id="lab_us-gaap_ManagementFeePayable_label_en-US" xlink:label="lab_us-gaap_ManagementFeePayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManagementFeePayable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ManagementFeePayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeePayable" xlink:to="lab_us-gaap_ManagementFeePayable" xlink:type="arc" order="1"/>
    <link:label id="lab_country_IE_019e22ad-fb9f-7926-89ba-afa1509b5dff_terseLabel_en-US" xlink:label="lab_country_IE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ireland</link:label>
    <link:label id="lab_country_IE_label_en-US" xlink:label="lab_country_IE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">IRELAND</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_IE" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_IE"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_IE" xlink:to="lab_country_IE" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtSecurities_019e22ad-fb09-755d-aead-a3eb72c75cdc_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt securities</link:label>
    <link:label id="lab_us-gaap_DebtSecurities_label_en-US" xlink:label="lab_us-gaap_DebtSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtSecurities"/>
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    <link:label id="lab_dei_EntityIncorporationStateCountryCode_019e22ad-f99e-7af6-a475-1437ae2e4a89_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
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    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_label_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock"/>
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    <link:label id="lab_us-gaap_ManagementAndServiceFeesIncentiveRate_019e22ad-f99e-751b-a7f5-573cc6fa7c15_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementAndServiceFeesIncentiveRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management incentive fee percentage</link:label>
    <link:label id="lab_us-gaap_ManagementAndServiceFeesIncentiveRate_label_en-US" xlink:label="lab_us-gaap_ManagementAndServiceFeesIncentiveRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management and Service Fees, Incentive Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManagementAndServiceFeesIncentiveRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ManagementAndServiceFeesIncentiveRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementAndServiceFeesIncentiveRate" xlink:to="lab_us-gaap_ManagementAndServiceFeesIncentiveRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_terseLabel_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement</link:label>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_label_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement [Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:to="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember"/>
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    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_019e22ad-fba0-763e-a375-e1a0ea30d8f4_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
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    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_019e22ad-fa65-772f-a18f-1d910ea4c48c_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive (loss) income</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentAxis_019e22ad-fa66-7dca-b044-dd4e137e15e2_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis" xlink:to="lab_us-gaap_DebtInstrumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_019e22ad-fb9f-7743-ae20-e986369ba4b0_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement Frequency [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementFrequencyDomain"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensation_019e22ad-fa65-7b7c-a137-804ac018a539_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_019e22ad-fa65-7f5b-b6d3-624752fba4ba_totalLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2020FL2SeniorCollateralizedLoanObligationMember_019e22ad-fa65-72a8-bab4-3d1b2bbb46c5_terseLabel_en-US" xlink:label="lab_bxmt_A2020FL2SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020 FL2 Senior Collateralized Loan Obligation</link:label>
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    <link:label id="lab_bxmt_A2020FL2SeniorCollateralizedLoanObligationMember_documentation_en-US" xlink:label="lab_bxmt_A2020FL2SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2020 FL2 Senior Collateralized Loan Obligation</link:label>
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    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_019e22ad-fa65-74ff-a653-4c771fcdb164_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Axis]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_label_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Axis]</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_019e22ad-f99e-7f09-9a2b-b85a7fb4fd89_verboseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Related party transaction</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Amounts of Transaction</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_019e22ad-fa65-7c3a-a13f-ed5f6498e074_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value of Derivative Financial Instruments</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareBasic_019e22ad-fa65-7f9f-982c-927781c6db6f_netLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Basic (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_019e22ad-fa65-74db-beea-3e74125ecac4_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Per share amount, basic (in dollars per share)</link:label>
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    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputTypeAxis"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease"/>
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    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_019e22ad-fba0-7638-b55e-79e2f29d77b9_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payment of deferred financing costs</link:label>
    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Financing Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfFinancingCosts" xlink:to="lab_us-gaap_PaymentsOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_019e22ad-fb9f-7fc1-aeeb-1229b29be3bb_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_019e22ad-f99e-7a15-8663-b7c956027b33_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription_019e22ad-fba0-7599-b9fb-e1c6ec734330_terseLabel_en-US" xlink:label="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassifications</link:label>
    <link:label id="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription_label_en-US" xlink:label="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification, Comparability Adjustment [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:type="arc" order="1"/>
    <link:label id="lab_country_GB_019e22ad-f99e-7e97-be16-fd4a9c860cc8_terseLabel_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">United Kingdom</link:label>
    <link:label id="lab_country_GB_label_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED KINGDOM</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_GB" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_GB"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_GB" xlink:to="lab_country_GB" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue_019e22ad-fba0-7ebf-80b5-8d1b770ca121_terseLabel_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate grant fair value</link:label>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue_label_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Nonvested, Fair Value</link:label>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue_documentation_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Nonvested, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:href="bxmt-20260630.xsd#bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:to="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff_019e22ad-f99e-7b29-88d5-ba54f73bfe83_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year two</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeOtherLoans_019e22ad-fba0-7309-a50f-f45201d02f52_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeOtherLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income on loans</link:label>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeOtherLoans_label_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeOtherLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Fee Income, Other Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndFeeIncomeOtherLoans" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestAndFeeIncomeOtherLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndFeeIncomeOtherLoans" xlink:to="lab_us-gaap_InterestAndFeeIncomeOtherLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_019e22ad-fb09-7da5-b49d-0665387d31f6_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Loan Exposure Percentage of Portfolio</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskPercentage1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskPercentage1" xlink:to="lab_us-gaap_ConcentrationRiskPercentage1" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsMember" xlink:to="lab_ecd_EqtyAwrdsAdjsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingRelationshipDomain_019e22ad-fb09-7ec4-9ff0-196329566b9d_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingRelationshipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Domain]</link:label>
    <link:label id="lab_us-gaap_HedgingRelationshipDomain_label_en-US" xlink:label="lab_us-gaap_HedgingRelationshipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingRelationshipDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgingRelationshipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingRelationshipDomain" xlink:to="lab_us-gaap_HedgingRelationshipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BlackstoneInternalAuditServicesMember_019e22ad-fa66-787e-b736-af836e0832c4_terseLabel_en-US" xlink:label="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Blackstone internal audit services</link:label>
    <link:label id="lab_bxmt_BlackstoneInternalAuditServicesMember_label_en-US" xlink:label="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Blackstone Internal Audit Services [Member]</link:label>
    <link:label id="lab_bxmt_BlackstoneInternalAuditServicesMember_documentation_en-US" xlink:label="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Blackstone Internal Audit Services</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BlackstoneInternalAuditServicesMember" xlink:href="bxmt-20260630.xsd#bxmt_BlackstoneInternalAuditServicesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BlackstoneInternalAuditServicesMember" xlink:to="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_019e22ad-fa65-795a-ae83-df1f2cee6dc0_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_019e22ad-fb09-702d-a87c-99928ce1ae89_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Undiscounted Future Minimum Rental Income</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_019e22ad-fa65-7218-96d6-58359b30ccb5_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_019e22ad-f99e-7db0-ad15-f6ca9f4a30fc_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of senior secured notes</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Senior Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate_019e22ad-fba0-7f75-8e97-7adf53df0c72_terseLabel_en-US" xlink:label="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost, loan obligation</link:label>
    <link:label id="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate_label_en-US" xlink:label="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Securitized Obligation, Weighted Average Cost Over Variable Rate</link:label>
    <link:label id="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate_documentation_en-US" xlink:label="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt, Securitized Obligation, Weighted Average Cost Over Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:href="bxmt-20260630.xsd#bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:to="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtTextBlock_019e22ad-fba0-7824-8bc5-7392190b5646_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Secured Debt, Net</link:label>
    <link:label id="lab_us-gaap_LongTermDebtTextBlock_019e22ad-fba0-772c-9521-d2c135861c43_netLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Securitized Debt Obligations, Net</link:label>
    <link:label id="lab_us-gaap_LongTermDebtTextBlock_019e22ad-fba0-7c0d-89cb-6a4901d04572_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:label id="lab_us-gaap_LongTermDebtTextBlock_label_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtTextBlock" xlink:to="lab_us-gaap_LongTermDebtTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ConvertibleSeniorNotesDue2027Member_019e22ad-fba0-7be4-9f40-cd70b44ee913_terseLabel_en-US" xlink:label="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Convertible Senior Notes Due 2027</link:label>
    <link:label id="lab_bxmt_ConvertibleSeniorNotesDue2027Member_label_en-US" xlink:label="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Senior Notes Due 2027 [Member]</link:label>
    <link:label id="lab_bxmt_ConvertibleSeniorNotesDue2027Member_documentation_en-US" xlink:label="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Convertible Senior Notes Due 2027</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:href="bxmt-20260630.xsd#bxmt_ConvertibleSeniorNotesDue2027Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:to="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ParentMember_019e22ad-fa66-7179-b7a8-8bf49aab66fd_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders' Equity</link:label>
    <link:label id="lab_us-gaap_ParentMember_label_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember" xlink:to="lab_us-gaap_ParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_019e22ad-fb9f-776c-ad32-7b692183d410_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CommonAndPreferredStockSharesAuthorized_019e22ad-fb09-777a-8c8a-eb55c84991fc_terseLabel_en-US" xlink:label="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares authorized (in shares)</link:label>
    <link:label id="lab_bxmt_CommonAndPreferredStockSharesAuthorized_label_en-US" xlink:label="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common And Preferred Stock, Shares Authorized</link:label>
    <link:label id="lab_bxmt_CommonAndPreferredStockSharesAuthorized_documentation_en-US" xlink:label="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum number of total shares permitted to be issued by an entity's charter and bylaws.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:href="bxmt-20260630.xsd#bxmt_CommonAndPreferredStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:to="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_019e22ad-fa66-7bcb-a905-cfd01cae87ac_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Forfeited (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_019e22ad-fb9f-731c-813b-31f80da4e643_verboseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expenses</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_019e22ad-fb9f-7f1c-8e1e-4db7c482cbd1_totalLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total general and administrative expenses</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_019e22ad-f99e-746d-935e-543644a57a06_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BoardOfDirectorsMember_019e22ad-fa66-7f1b-922e-927a86a28c7e_terseLabel_en-US" xlink:label="lab_bxmt_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Board of Directors</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsMember_label_en-US" xlink:label="lab_bxmt_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Board Of Directors [Member]</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsMember_documentation_en-US" xlink:label="lab_bxmt_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The board of directors (who collectively have responsibility for determining the overall policy of the entity and appointing officers) generally elected by the shareholders.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BoardOfDirectorsMember" xlink:href="bxmt-20260630.xsd#bxmt_BoardOfDirectorsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BoardOfDirectorsMember" xlink:to="lab_bxmt_BoardOfDirectorsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross_019e22ad-fba0-73a6-8aee-14ab8e976818_totalLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate liabilities</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Gross</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:href="bxmt-20260630.xsd#bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:to="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OtherCurrencyMember_019e22ad-fb9f-78f4-a4b0-af3aad25aa7f_verboseLabel_en-US" xlink:label="lab_srt_OtherCurrencyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-USD</link:label>
    <link:label id="lab_srt_OtherCurrencyMember_019e22ad-fb9f-7c35-89a2-0da4a86caa42_terseLabel_en-US" xlink:label="lab_srt_OtherCurrencyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label id="lab_srt_OtherCurrencyMember_label_en-US" xlink:label="lab_srt_OtherCurrencyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Currency [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OtherCurrencyMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OtherCurrencyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OtherCurrencyMember" xlink:to="lab_srt_OtherCurrencyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfRealEstateProperties_019e22ad-f99e-7d93-b46e-9e6d83b17510_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate properties</link:label>
    <link:label id="lab_us-gaap_NumberOfRealEstateProperties_label_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Real Estate Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfRealEstateProperties" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfRealEstateProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfRealEstateProperties" xlink:to="lab_us-gaap_NumberOfRealEstateProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract_label_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets And Liabilities Disclosure [Abstract]</link:label>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract_documentation_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Assets And Liabilities Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:href="bxmt-20260630.xsd#bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:to="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_019e22ad-fba0-7371-9682-7742a09e860e_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgingDesignationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationDomain" xlink:to="lab_us-gaap_HedgingDesignationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockDomain_019e22ad-fa65-729d-8441-544ebbc434c1_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SaleOfStockRemainingAuthorizedAmount_019e22ad-fb09-788a-bf70-c7c8953d26df_terseLabel_en-US" xlink:label="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate sales price remaining available</link:label>
    <link:label id="lab_bxmt_SaleOfStockRemainingAuthorizedAmount_label_en-US" xlink:label="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Remaining Authorized Amount</link:label>
    <link:label id="lab_bxmt_SaleOfStockRemainingAuthorizedAmount_documentation_en-US" xlink:label="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Remaining Authorized Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:href="bxmt-20260630.xsd#bxmt_SaleOfStockRemainingAuthorizedAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:to="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_019e22ad-fba0-7034-b1da-a79d74db9ebe_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MultifamilyJointVentureMember_019e22ad-fb09-7daa-8814-daea7dcc6de6_terseLabel_en-US" xlink:label="lab_bxmt_MultifamilyJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily Joint Venture</link:label>
    <link:label id="lab_bxmt_MultifamilyJointVentureMember_label_en-US" xlink:label="lab_bxmt_MultifamilyJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily Joint Venture [Member]</link:label>
    <link:label id="lab_bxmt_MultifamilyJointVentureMember_documentation_en-US" xlink:label="lab_bxmt_MultifamilyJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Multifamily Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MultifamilyJointVentureMember" xlink:href="bxmt-20260630.xsd#bxmt_MultifamilyJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MultifamilyJointVentureMember" xlink:to="lab_bxmt_MultifamilyJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignExchangeForwardMember_019e22ad-fb09-7c9a-acf3-b94385c83268_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignExchangeForwardMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Exchange Forward</link:label>
    <link:label id="lab_us-gaap_ForeignExchangeForwardMember_label_en-US" xlink:label="lab_us-gaap_ForeignExchangeForwardMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Forward [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignExchangeForwardMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForeignExchangeForwardMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignExchangeForwardMember" xlink:to="lab_us-gaap_ForeignExchangeForwardMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum_019e22ad-fa65-7449-8406-9ff59609f033_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total unencumbered assets to total unsecured debt ratio</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Unencumbered Assets To Total Unsecured Debt Ratio, Minimum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Unencumbered Assets To Total Unsecured Debt Ratio, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:href="bxmt-20260630.xsd#bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:to="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium_019e22ad-fa65-7732-9ed8-48d500e5de46_terseLabel_en-US" xlink:label="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance costs inclusive of premiums, capital surplus contributions, taxes and pro rata share of expenses</link:label>
    <link:label id="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium_label_en-US" xlink:label="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amount Contributed To Captive Towards Insurance Premium</link:label>
    <link:label id="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium_documentation_en-US" xlink:label="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount Contributed To Captive Towards Insurance Premium</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:href="bxmt-20260630.xsd#bxmt_AmountContributedToCaptiveTowardsInsurancePremium"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:to="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_terseLabel_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Available</link:label>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_label_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Securities Aggregate Available Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrSecuritiesAggAvailAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:to="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock_019e22ad-fb09-7257-931d-d60eeca96d18_terseLabel_en-US" xlink:label="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Disclosure Details Of Loan Receivable Portfolio Based On Index Floor Rates</link:label>
    <link:label id="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock_label_en-US" xlink:label="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Details Of Loan Receivable Portfolio Based On Floor Rate [Table Text Block]</link:label>
    <link:label id="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Details Of Loan Receivable Portfolio Based On Floor Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:href="bxmt-20260630.xsd#bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:to="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_019e22ad-fb09-743c-baf1-ebaa64f7938a_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember_019e22ad-fba0-71e8-8106-cf7f1b069038_terseLabel_en-US" xlink:label="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:label id="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember_label_en-US" xlink:label="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Loans, Blackstone-Advised Investment Vehicle [Member]</link:label>
    <link:label id="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember_documentation_en-US" xlink:label="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:href="bxmt-20260630.xsd#bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:to="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_019e22ad-f99e-7518-a16f-035ddbfe5cc6_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Owned real estate, net</link:label>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_019e22ad-f99e-77a5-adc4-5f231f359af4_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Owned real estate, net</link:label>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_label_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateAcquiredThroughForeclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:to="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DallasTXMember_019e3bde-58d5-7d9c-80fc-1693cf152485_terseLabel_en-US" xlink:label="lab_bxmt_DallasTXMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dallas, TX</link:label>
    <link:label id="lab_bxmt_DallasTXMember_label_en-US" xlink:label="lab_bxmt_DallasTXMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dallas, TX [Member]</link:label>
    <link:label id="lab_bxmt_DallasTXMember_documentation_en-US" xlink:label="lab_bxmt_DallasTXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dallas, TX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DallasTXMember" xlink:href="bxmt-20260630.xsd#bxmt_DallasTXMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DallasTXMember" xlink:to="lab_bxmt_DallasTXMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_019e22ad-fa65-7984-9390-804a8a18ab40_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Operations</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTable_terseLabel_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure</link:label>
    <link:label id="lab_ecd_PvpTable_label_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTable" xlink:to="lab_ecd_PvpTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax_019f8ab7-d50f-76fa-a6b9-9c91702ee48d_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income generated by cash flow hedges</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFilerCategory_019e22ad-fa65-7828-aa04-a1aa6a2f1077_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFilerCategory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_DirectorMember_019e22ad-fa66-748b-bc62-35991e785368_terseLabel_en-US" xlink:label="lab_srt_DirectorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Director</link:label>
    <link:label id="lab_srt_DirectorMember_label_en-US" xlink:label="lab_srt_DirectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Director [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_DirectorMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_DirectorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_DirectorMember" xlink:to="lab_srt_DirectorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DirectorShareBasedPaymentArrangementExpense_019e22ad-fa65-74fc-af2b-bea922219211_terseLabel_en-US" xlink:label="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Director stock-based compensation</link:label>
    <link:label id="lab_bxmt_DirectorShareBasedPaymentArrangementExpense_label_en-US" xlink:label="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Director Share-Based Payment Arrangement, Expense</link:label>
    <link:label id="lab_bxmt_DirectorShareBasedPaymentArrangementExpense_documentation_en-US" xlink:label="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Director Share-Based Payment Arrangement, Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:href="bxmt-20260630.xsd#bxmt_DirectorShareBasedPaymentArrangementExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:to="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments_019e22ad-fb09-79b1-93ec-b31265fe4819_verboseLabel_en-US" xlink:label="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Payments under derivative financial instruments, net of adjustments</link:label>
    <link:label id="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments_label_en-US" xlink:label="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities, Net Of Adjustments</link:label>
    <link:label id="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments_documentation_en-US" xlink:label="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities, Net Of Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:href="bxmt-20260630.xsd#bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:to="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_019e22ad-fa65-7ef1-ab3d-27c76393754e_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskBenchmarkDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_019e22ad-f99e-7679-8fc4-ffb3f1b1dcdb_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions of earnings from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:to="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NondesignatedMember_019e22ad-fba0-744e-b411-f9ffc054f962_terseLabel_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivatives not designated as hedging instruments</link:label>
    <link:label id="lab_us-gaap_NondesignatedMember_019e22ad-fba0-7bcb-820a-ad3e3b398adb_verboseLabel_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-Designated Hedges</link:label>
    <link:label id="lab_us-gaap_NondesignatedMember_label_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not Designated as Hedging Instrument [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NondesignatedMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NondesignatedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NondesignatedMember" xlink:to="lab_us-gaap_NondesignatedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:to="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable1.01To2.00FloorMember_019e22ad-fa65-7d71-8729-41c70a099f14_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1.01% to 2.00% floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable1.01To2.00FloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 1.01% To 2.00% Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable1.01To2.00FloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 1.01% To 2.00% Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivable1.01To2.00FloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:to="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_019e22ad-fb09-7821-86e0-e947c751c9bc_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNet" xlink:to="lab_us-gaap_BelowMarketLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_019e22ad-fba0-7e31-b39b-0c996e2f9381_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock, Class of Stock [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfStockByClassTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable" xlink:to="lab_us-gaap_ScheduleOfStockByClassTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLoss_019e22ad-fb09-7118-8312-7e1ea2b493a5_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_019e22ad-fb09-7e88-bc09-8e6754530991_netLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_019e22ad-fb09-773d-ab69-27d42550c494_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet_019e22ad-fb09-7aca-91d1-10557a025681_terseLabel_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net unfunded commitments</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet_label_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Net</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet_documentation_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:href="bxmt-20260630.xsd#bxmt_OffBalanceSheetCreditLossLiabilityNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:to="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeLiabilities_019e22ad-fa66-75bf-8662-2565c5fac96d_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative liabilities</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_019e22ad-fa66-7639-8466-9b81e1e13421_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivatives</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities" xlink:to="lab_us-gaap_DerivativeLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_019e22ad-fa65-7dcf-9318-07d420c35447_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Currency</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_019e22ad-fb09-7dbd-b276-f4625428970b_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_019e22ad-fb9f-7470-b82a-7fc2254e9607_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vested (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_019e22ad-f99e-7164-8237-d45c10e7bedd_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income tax provision</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueHedgingMember_019e22ad-fba0-7769-86a0-bfb6b71e0778_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueHedgingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hedging</link:label>
    <link:label id="lab_us-gaap_FairValueHedgingMember_label_en-US" xlink:label="lab_us-gaap_FairValueHedgingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hedging [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueHedgingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueHedgingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueHedgingMember" xlink:to="lab_us-gaap_FairValueHedgingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember_019e22ad-fba0-763e-bba2-1dcb620c956e_terseLabel_en-US" xlink:label="lab_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 FL6 Senior Collateralized Loan Obligation</link:label>
    <link:label id="lab_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember_label_en-US" xlink:label="lab_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2026 FL6 Senior Collateralized Loan Obligation [Member]</link:label>
    <link:label id="lab_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember_documentation_en-US" xlink:label="lab_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2026 FL6 Senior Collateralized Loan Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember" xlink:href="bxmt-20260630.xsd#bxmt_A2026FL6SeniorCollateralizedLoanObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember" xlink:to="lab_bxmt_A2026FL6SeniorCollateralizedLoanObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_019e22ad-fa66-703d-8d13-2787f54f86dc_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principles of Consolidation</link:label>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour_019e22ad-fb9f-76ef-a334-ffc4b04a3b7d_negatedTerseLabel_en-US" xlink:label="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour_label_en-US" xlink:label="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, after Year Four</link:label>
    <link:label id="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, after Year Four</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_019e22ad-fa66-70ad-8589-4cc7f1b3710c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Charge-offs of CECL reserves</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_019e22ad-fa66-7169-bff4-cbf1c997fe0e_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_019e22ad-fa66-7857-888a-ca1a2f820cdb_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount charged off</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff"/>
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    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageRiskRating_019e22ad-fb09-73a6-93dd-48dfada00c7c_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average risk rating</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageRiskRating_label_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Risk Rating</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageRiskRating_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Risk Rating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:href="bxmt-20260630.xsd#bxmt_FinancingReceivableWeightedAverageRiskRating"/>
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    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
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    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation_label_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Board Of Directors, Number Of Directors Eligible For Compensation</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation_documentation_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Board Of Directors, Number Of Directors Eligible For Compensation</link:label>
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    <link:label id="lab_us-gaap_LoanRestructuringModificationDomain_019e22ad-fb09-7d61-af6e-21f58f1d7c6b_terseLabel_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Restructuring Modification [Domain]</link:label>
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    <link:label id="lab_us-gaap_StatementTable_019e22ad-fa66-7db5-a3d5-b85695dcb390_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementTable"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_019e22ad-fb09-7979-87b6-27bd459d30d3_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vest in 2027</link:label>
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    <link:label id="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense_019e22ad-fa66-7a79-b0f3-69da81d89988_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization expense</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Depreciation And Amortization Expense</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Depreciation And Amortization Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:href="bxmt-20260630.xsd#bxmt_RealEstateOwnedDepreciationAndAmortizationExpense"/>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember_019e22ad-fb09-7ff1-b28e-af883c8c3926_terseLabel_en-US" xlink:label="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025 FL5 Underlying Collateral Assets</link:label>
    <link:label id="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember_label_en-US" xlink:label="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2025 FL5 Underlying Collateral Assets [Member]</link:label>
    <link:label id="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2025 FL5 Underlying Collateral Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:href="bxmt-20260630.xsd#bxmt_A2025FL5UnderlyingCollateralAssetsMember"/>
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    <link:label id="lab_bxmt_InvestmentRiskManagementCommitteeMember_019e22ad-fba0-7cf9-96ce-0d016006ff5d_terseLabel_en-US" xlink:label="lab_bxmt_InvestmentRiskManagementCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment risk management committee</link:label>
    <link:label id="lab_bxmt_InvestmentRiskManagementCommitteeMember_label_en-US" xlink:label="lab_bxmt_InvestmentRiskManagementCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Risk Management Committee [Member]</link:label>
    <link:label id="lab_bxmt_InvestmentRiskManagementCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_InvestmentRiskManagementCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Risk Management Committee</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentsAbstract_019e22ad-fb09-7316-b32e-3dcb4a78e07b_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instruments [Abstract]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentsAbstract_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instruments [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentsAbstract"/>
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    <link:label id="lab_bxmt_AccruedManagementAndIncentiveFeesPayable_documentation_en-US" xlink:label="lab_bxmt_AccruedManagementAndIncentiveFeesPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued management and incentive fees payable.</link:label>
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