Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 388,049	$ 323,483
Loans receivable	19,706,105	19,047,518
Current expected credit loss reserve	(740,851)	(733,936)
Loans receivable, net	18,965,254	18,313,582
Real estate owned, net	615,217	588,185
Investments in unconsolidated entities (includes $55,906 and $0 at fair value as of June 30, 2025 and December 31, 2024, respectively)	108,087	4,452
Other assets	507,834	572,253
Total Assets	20,584,441	19,801,955
Liabilities and Equity
Loan participations sold, net	50,000	100,064
Senior secured notes, net	784,066	771,035
Convertible notes, net	264,181	263,616
Other liabilities	431,658	282,847
Total Liabilities	16,960,904	16,007,766
Commitments and contingencies (Note 22)
Equity
Class A common stock, $0.01 par value, 400,000,000 shares authorized, 171,593,590 and 172,792,094 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	1,716	1,728
Additional paid-in capital	5,494,020	5,511,053
Accumulated other comprehensive income	9,798	8,268
Accumulated deficit	(1,888,762)	(1,733,741)
Total Blackstone Mortgage Trust, Inc. stockholders’ equity	3,616,772	3,787,308
Non-controlling interests	6,765	6,881
Total Equity	3,623,537	3,794,189
Total Liabilities and Equity	20,584,441	19,801,955
Secured debt, net
Liabilities and Equity
Long-term debt	10,683,320	9,696,334
Securitized debt obligations, net
Liabilities and Equity
Long-term debt	2,493,011	1,936,956
Asset-specific debt, net
Liabilities and Equity
Long-term debt	528,224	1,224,841
Secured term loans, net
Liabilities and Equity
Long-term debt	$ 1,726,444	$ 1,732,073