BLACKSTONE MORTGAGE TRUST, INC.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 29, 2026
Contents
Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025
Consolidated Balance Sheets (Unaudited)
(in thousands, except share data)
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $511,504 | $452,526 |
| Loans receivable, held-for-investment | 14,563,834 | 18,069,134 |
| Current expected credit loss reserve | (597,324) | (284,440) |
| Loans receivable, held-for-investment, net | 13,966,510 | 17,784,694 |
| Loans receivable, held-for-sale | 615,575 | — |
| Owned real estate, net | 1,337,535 | 1,134,975 |
| Investments in unconsolidated entities (includes $151,472 and $111,010 at fair value as of September 30, 2026 and December 31, 2025, respectively) | 370,748 | 217,488 |
| Other assets | 657,721 | 413,263 |
| Total Assets | $17,459,593 | $20,002,946 |
| Liabilities and Equity | ||
| Secured debt, net | $7,186,809 | $10,117,292 |
| Securitized debt obligations, net | 2,636,870 | 2,139,719 |
| Asset-specific debt, net | 988,546 | 997,746 |
| Term loans, net | 1,875,754 | 1,808,000 |
| Senior secured notes, net | 1,191,731 | 784,876 |
| Convertible notes, net | 265,592 | 264,745 |
| Other liabilities | 474,612 | 386,178 |
| Total Liabilities | 14,619,914 | 16,498,556 |
| Commitments and contingencies (Note 21) | ||
| Equity | ||
| Class A common stock, $0.01 par value, 400,000,000 shares authorized, 165,988,840 and 168,259,023 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 1,660 | 1,683 |
| Additional paid-in capital | 5,411,239 | 5,430,542 |
| Accumulated other comprehensive income | 21,671 | 12,113 |
| Accumulated deficit | (2,596,961) | (1,945,428) |
| Total Blackstone Mortgage Trust, Inc. stockholders’ equity | 2,837,609 | 3,498,910 |
| Non-controlling interests | 2,070 | 5,480 |
| Total Equity | 2,839,679 | 3,504,390 |
| Total Liabilities and Equity | $17,459,593 | $20,002,946 |
Note: The consolidated balance sheets as of September 30, 2026 and December 31, 2025 include assets of consolidated
variable interest entities, or VIEs, that can only be used to settle obligations of each respective VIE, and liabilities of
consolidated VIEs for which creditors do not have recourse to Blackstone Mortgage Trust, Inc. As of September 30, 2026
and December 31, 2025, assets of the consolidated VIEs totaled$3.7 billion and$3.3 billion, respectively, and liabilities of
the consolidated VIEs totaled$2.7 billion and$2.2 billion, respectively. Refer to Note 19 for further discussion of the
VIEs.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.