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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Schedule IV - Mortgage Loans on Real Estate
Blackstone Mortgage Trust, Inc.
Schedule IV – Mortgage Loans on Real Estate
As of December 31, 2021
(in thousands)
Type of Loan/BorrowerDescription / Location
Interest Payment Rates(2)
Maximum
 Maturity Date(3)
Periodic
 Payment
 Terms(4)(5)
Prior
 Liens(6)
Face Amount
 of Loans
Carrying
 Amount of
 Loans(5)(7)(8)
Senior Mortgage Loans(1)
Senior loans in excess of 3% of the carrying amount of total loans
Borrower AOffice / Ireland+ 2.54 %2024I/O$— $1,160,153 $1,155,748 
Borrower BMixed-Use / Spain+ 3.25 %2023I/O—821,873820,781
Senior loans less than 3% of the carrying amount of total loans
Senior Mortgage LoansOffice / Diversified
+ 2.18 – 6.13%
Fixed 4.46%
2022 – 2028
I/O & P/I—7,922,7847,873,811
Senior Mortgage LoansMultifamily / Diversified
+ 1.60% – 5.25%
Fixed 1.50%
2023 – 2028
I/O—5,162,8055,115,567
Senior Mortgage LoansHospitality / Diversified
+ 2.20% – 4.30%
2023 – 2027
I/O—3,311,7233,288,135
Senior Mortgage LoansIndustrial / Diversified
+ 2.60% – 3.25%
2024 – 2026
I/O—1,076,1791,067,608
Senior Mortgage LoansMixed-Use / Diversified
+ 2.50% – 5.00%
2023 – 2027
I/O—1,045,5901,041,047
Senior Mortgage LoansRetail / Diversified
+ 2.25% – 3.10%
2023 – 2026
I/O—409,917406,311
Senior Mortgage LoansOther / Diversified
+ 3.00% – 4.60%
2022 – 2026
I/O—824,329818,410
—19,753,32719,610,889
Total senior mortgage loans$— $21,735,353 $21,587,418 
continued…
Blackstone Mortgage Trust, Inc.
Schedule IV – Mortgage Loans on Real Estate
As of December 31, 2021
(in thousands)
Type of Loan/BorrowerDescription / Location
Interest Payment Rates(2)
Maximum
 Maturity Date(3)
Periodic
 Payment
 Terms(4)(5)
Prior
 Liens(6)
Face Amount
 of Loans
Carrying
 Amount of
 Loans(5)(7)(8)
Subordinate Loans(9)
Subordinate loans less than 3% of the carrying amount of total loans
Subordinate loansVarious / Diversified
+ 2.65% – 4.00%
Fixed 5.74%
2022 – 2026
I/O & P/I$1,512,675 $421,084 $415,599 
Total subordinate loans$1,512,675 $421,084 $415,599 
Total loans$1,512,675 $22,156,437 $22,003,017 
CECL reserve(10)
(124,679)
Total loans, net$21,878,338 
(1)Includes senior mortgages and similar credit quality loans, including related contiguous subordinate loans, and pari passu participations in senior mortgage loans.
(2)The interest payment rates are expressed as a spread over the relevant floating benchmark rates, which include USD LIBOR, SOFR, GBP LIBOR, SONIA, EURIBOR, BBSY, CDOR, and SARON, as applicable to each loan.
(3)Maximum maturity date assumes all extension options are exercised.
(4)I/O = interest only, P/I = principal and interest.
(5)As of December 31, 2021, there were no loans with delinquent principal or interest.
(6)Represents only third party liens.
(7)The tax basis of the loans included above is $21.3 billion as of December 31, 2021.
(8)For one of our multifamily loans, during the three months ended December 31, 2021, we charged off $14.4 million of the CECL reserve and reduced the loan's outstanding principal balance to $37.5 million.
(9)Includes subordinate interests in mortgages and mezzanine loans.
(10)As of December 31, 2021, we had a total CECL reserve of $124.7 million on our loans receivable, of which $54.9 million is specifically related to one of our loans receivable with an outstanding principal balance of $286.3 million, as of December 31, 2021. This CECL reserve reflects the macroeconomic impact of the COVID-19 pandemic on commercial real estate markets generally, as well as certain loans assessed for impairment in our portfolio.
Reconciliation of Mortgage Loans on Real Estate:
The following table reconciles mortgage loans on real estate for the years ended:
 202120202019
Balance at January 1,$16,572,715 $16,164,801 $14,191,200 
Additions during period:
Loan fundings12,550,4631,896,2766,890,249
Amortization of fees and other items68,26756,27957,415
Deductions during period:
Loan repayments and sales proceeds(6,733,105)(1,862,955)(4,974,881)
Principal charge-offs(14,427)——
Unrealized (loss) gain on foreign currency translation(297,894)340,26067,376
Deferred fees and other items(143,002)(21,946)(66,558)
Balance at December 31,$22,003,017 $16,572,715 $16,164,801 
CECL reserve(124,679)(173,549)—
Net balance at December 31,$21,878,338 $16,399,166 $16,164,801