Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 668,563	$ 323,483
Loans receivable	19,049,712	19,047,518
Current expected credit loss reserve	(741,541)	(733,936)
Loans receivable, net	18,308,171	18,313,582
Real estate owned, net	619,796	588,185
Investments in unconsolidated entities	29,020	4,452
Other assets	331,925	572,253
Total Assets	19,957,475	19,801,955
Liabilities and Equity
Loan participations sold, net	101,672	100,064
Term loans, net	1,730,565	1,732,073
Senior secured notes, net	779,187	771,035
Convertible notes, net	263,898	263,616
Other liabilities	341,277	282,847
Total Liabilities	16,268,757	16,007,766
Commitments and contingencies (Note 22)
Equity
Class A common stock, $0.01 par value, 400,000,000 shares authorized, 171,582,452 and 172,792,094 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively	1,716	1,728
Additional paid-in capital	5,486,596	5,511,053
Accumulated other comprehensive income	8,591	8,268
Accumulated deficit	(1,814,935)	(1,733,741)
Total Blackstone Mortgage Trust, Inc. stockholders’ equity	3,681,968	3,787,308
Non-controlling interests	6,750	6,881
Total Equity	3,688,718	3,794,189
Total Liabilities and Equity	19,957,475	19,801,955
Secured debt, net
Liabilities and Equity
Long-term debt	10,000,027	9,696,334
Securitized debt obligations, net
Liabilities and Equity
Long-term debt	2,559,896	1,936,956
Asset-specific debt, net
Liabilities and Equity
Long-term debt	$ 492,235	$ 1,224,841