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    <link:label id="lab_bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember_d47b7338-8c62-4760-aa40-c26a3e95a2a1_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>
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    <link:label id="lab_bxmt_SecuritizedDebtObligationsYieldRate_305433ee-19af-477d-a3d2-af8c4bb1ca5e_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-20251231.xsd#bxmt_SecuritizedDebtObligationsYieldRate"/>
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    <link:label id="lab_srt_HotelMember_019c4993-2fcd-770e-9fd8-94109bec1172_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/2025/elts/srt-2025.xsd#srt_HotelMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_HotelMember" xlink:to="lab_srt_HotelMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DeferredStockUnitsMember_6d989087-7b25-4035-bc61-e5ae756ae847_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-20251231.xsd#bxmt_DeferredStockUnitsMember"/>
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    <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>
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    <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"/>
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    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_bbd47bb8-c2fa-45d9-98bb-e307ded21277_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>
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    <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>
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    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ae533d0-8650-48cb-a0f5-4d57c2cd3882_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>
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    <link:label id="lab_us-gaap_RestrictedStockExpense_07b5af51-4d3b-444e-9bf5-a27837e56a03_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>
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    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_c814e206-c57c-477a-9b5a-98a3271c3c1a_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">Incurred Amounts by Related Parties</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_SecuredOvernightFinancingRateSofrMember_b7c5d086-be8e-40a3-9568-9d0a2e1bae40_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/2025/elts/us-gaap-2025.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_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_95dc7ce5-2784-449b-8207-5e8c76912193_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</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_4de7a2e3-efd0-409e-bcf6-b468ddfdb258_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>
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    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_3f97e3c5-4775-499a-9de1-2b450192facd_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/2025/elts/us-gaap-2025.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_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_8938e851-eba6-49ee-a5dd-98d3e5244258_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Amount of Loans Subject to Delinquent Principal or Interest</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" 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, Principal Amount of Delinquent Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:to="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_848f0662-2ca4-446d-aeb9-d652bdadee59_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/2025/elts/us-gaap-2025.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_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable_217789b5-0a32-473d-b848-4e26754ca71a_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_a266f2a6-130b-4161-be9e-eb250b4857b6_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/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherEuropeMember_423d622d-e421-4a78-9acf-152b9cecb927_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-20251231.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_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/2025/ecd-2025.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_bxmt_OpenMarketDividendReinvestmentMember_019ba3e1-0cc6-7015-b1e8-ee277af6276f_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-20251231.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_2fbe3045-203e-465d-9726-02ac5a45d58a_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-20251231.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_us-gaap_ScheduleOfStockByClassTable_353b94ae-e90b-4697-b996-491b576fe511_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/2025/elts/us-gaap-2025.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_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum_71ce61f7-c821-4d85-8698-08df08908b81_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-20251231.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_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_90d49622-c8ae-4fa5-bda8-f42274a3876d_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/2025/elts/us-gaap-2025.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_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_70b31f05-945c-4831-ab40-9b83bcf39a49_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" 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_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_label_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:to="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_01542b26-37e6-4fb2-a44c-1c29174d0c84_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_d0cbbe64-549e-489a-94d2-1da4ddbf00b0_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-20251231.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_bxmt_MixedUseMember_a5c4a1ff-810d-4136-b3e5-a121c531d5ac_terseLabel_en-US" xlink:label="lab_bxmt_MixedUseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mixed Use</link:label>
    <link:label id="lab_bxmt_MixedUseMember_label_en-US" xlink:label="lab_bxmt_MixedUseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mixed Use [Member]</link:label>
    <link:label id="lab_bxmt_MixedUseMember_documentation_en-US" xlink:label="lab_bxmt_MixedUseMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mixed use.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MixedUseMember" xlink:href="bxmt-20251231.xsd#bxmt_MixedUseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MixedUseMember" xlink:to="lab_bxmt_MixedUseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward_a973aaea-b6b9-47ae-8caa-014cab088dad_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_ConcentrationRiskPercentage1_2f0d321b-c185-4de3-9603-9282677e9703_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>
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    <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>
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    <link:label id="lab_us-gaap_MeasurementInputCapRateMember_9dd72051-2d1f-4d86-b660-6df971295259_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>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_3f73947a-d292-463e-b89a-0c8fb3f20ff3_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>
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    <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/2025/elts/us-gaap-2025.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensation_5b5d049d-5f79-4462-b1ec-46474125ef1e_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>
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    <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_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/2025/elts/us-gaap-2025.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"/>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_5ab97202-61d6-4b88-a692-2b599b2df1f3_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/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
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    <link:label id="lab_us-gaap_StockholdersEquity_cb91f290-7db0-43b1-9312-7254ffdb4fdf_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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"/>
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    <link:label id="lab_bxmt_AnnualDirectorCompensation_dc819d03-3ae6-4347-9582-0cafe7fab8f2_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>
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    <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_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating_29780401-66dd-4188-b8e3-e0bda3e8bca8_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-20251231.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"/>
    <link:label id="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets_9cd5f403-4469-4670-86b8-5c1261779af5_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-20251231.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_f8b5605e-4343-41ed-8b07-456bd0180787_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-20251231.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_LiabilitiesAndStockholdersEquityAbstract_7ee3c8d5-3ef5-4785-8c42-2f589232345a_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/2025/elts/us-gaap-2025.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_dei_CoverAbstract_c03a9a5c-c005-4bda-8c13-fd5dc3273cab_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/2025/dei-2025.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_CashAndCashEquivalentsFairValueDisclosure_6d04c426-d966-4216-ae4f-dcadb9a6d0f4_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/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_JuniorLoanParticipationMember_a7f1752d-855f-415f-8224-8b5545d99bd8_terseLabel_en-US" xlink:label="lab_bxmt_JuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Junior Loan Participation</link:label>
    <link:label id="lab_bxmt_JuniorLoanParticipationMember_label_en-US" xlink:label="lab_bxmt_JuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Junior Loan Participation [Member]</link:label>
    <link:label id="lab_bxmt_JuniorLoanParticipationMember_documentation_en-US" xlink:label="lab_bxmt_JuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Junior Loan Participation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_JuniorLoanParticipationMember" xlink:href="bxmt-20251231.xsd#bxmt_JuniorLoanParticipationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_JuniorLoanParticipationMember" xlink:to="lab_bxmt_JuniorLoanParticipationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MaximumMember_6d6ad36b-6bcd-4e3f-b41c-c4c053e24eb3_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/2025/elts/srt-2025.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_us-gaap_TransferToOtherRealEstate_b4f9b809-aeaa-4c1c-8435-db5cf10b252f_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_c7892ee4-b76a-425c-b864-ee01e2088f40_negatedLabel_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Transfer to owned real estate</link:label>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_d5f5080b-ef06-421a-83e9-623904fa951c_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/2025/elts/us-gaap-2025.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_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_16394e45-decb-4f08-9ce1-8da45fba5fd0_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 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/2025/elts/us-gaap-2025.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_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock_f64c03a3-8bbf-463c-95ba-69cd6354ea60_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">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/2025/elts/us-gaap-2025.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_FiniteLivedIntangibleAssetsNet_b6b7bc7a-ac44-4106-b5ed-47271db2bd34_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">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_us-gaap_DebtInstrumentCollateralAmount_411de95e-5f8a-4630-ada5-cd2f6e2ab2bd_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_082f7359-b1c5-4bd6-b782-25981769ecb4_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/2025/elts/us-gaap-2025.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_us-gaap_RestrictedStockMember_e26bcfc3-429d-4ddb-a2cf-113ed590ecbd_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_DebtInstrumentLineItems_b0440a42-862a-44b7-b10f-3518a617d904_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/2025/elts/us-gaap-2025.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_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_62f46996-e13b-4a3f-b281-becc3071c824_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/2025/elts/us-gaap-2025.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_WalkerDunlopMember_eefafab5-2dbc-4d51-a702-daa3254abc7e_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>
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    <link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_0a4fb6a6-da4a-4987-b75f-b97c5b650f79_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">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:loc xlink:type="locator" xlink:label="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock"/>
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    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_cf11ed9a-3374-40ac-a3f7-08d42e826c66_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/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable"/>
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    <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/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt"/>
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    <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/2025/ecd-2025.xsd#ecd_NonRule10b51ArrTrmntdFlag"/>
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    <link:label id="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification_4ddf1aa7-9bd0-4ec9-8e49-4d361bce013b_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/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification"/>
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    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_022ea44d-7d4a-4b99-9ca3-e53ffaf2cd3d_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">Income (loss) 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/2025/elts/us-gaap-2025.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_dei_EntityShellCompany_ba73072a-f098-4e55-92ff-464504d79508_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/2025/dei-2025.xsd#dei_EntityShellCompany"/>
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    <link:label id="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities_58b2b726-41d9-4873-96e9-cfbe98d499a3_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/2025/elts/us-gaap-2025.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_DebtInstrumentTable_fc7afa94-8227-47bb-8ac3-efbd49d46feb_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/2025/elts/us-gaap-2025.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_RiskRatingOneMember_39bf6a1c-dc1e-4936-a04d-582b42997675_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_20724c3a-272d-4c01-99fd-10d833ec2207_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>
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    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_30f4efbc-6e47-4ded-94f0-80ad804b052c_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/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_1e2ed35d-1a48-4996-98d8-da3bdf79a23d_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 (loss) gain 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>
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    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_07e9fdd0-beca-4ae0-9157-e09e2ad5e141_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 income attributable to non-controlling interests</link:label>
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    <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>
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    <link:label id="lab_us-gaap_InterestExpenseOperating_18ff1f1f-80bb-4a54-a78b-b01a4fd1b923_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_ac84806f-17aa-4095-8403-84702c1648f8_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOperating_a0d08b7f-9c46-4e43-aca5-e1795a5aeada_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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"/>
    <link:label id="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense_0f7c2d66-af22-41f2-bf3e-70f6e4fedf12_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-20251231.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_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_6d2c092b-ead9-40ba-a9e9-f4d327efbc08_negatedTotalLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" 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-20251231.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_ManagementFeeExpense_c881dfae-0db3-4104-8e97-6b7f8906721e_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/2025/elts/us-gaap-2025.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_dei_DocumentFiscalPeriodFocus_ef028938-05e9-46ed-b78b-f6c49e1760ec_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/2025/dei-2025.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_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet_f5c90ab0-67a7-4103-b74f-43188eb2b4aa_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-20251231.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_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/2025/ecd-2025.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_LineOfCreditFacilityWeightedAverageAllInCost_7da56adf-4192-41b2-bb7f-6a197110ed84_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-20251231.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_AwardTypeAxis_db7a28c4-8fdc-466a-ad4a-6e75b12253ab_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/2025/elts/us-gaap-2025.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_HedgingRelationshipDomain_b956062a-c7bd-4316-8deb-916a5674c7c6_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/2025/elts/us-gaap-2025.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_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember_019c163e-1327-7628-b5de-dc975d221a8f_terseLabel_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029, Repaid With B-7 Term Loan Proceeds</link:label>
    <link:label id="lab_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember_label_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029, Repaid With B-7 Term Loan Proceeds [Member]</link:label>
    <link:label id="lab_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember_documentation_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029, Repaid With B-7 Term Loan Proceeds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember" xlink:href="bxmt-20251231.xsd#bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember" xlink:to="lab_bxmt_B4TermLoanDue2029RepaidWithB7TermLoanProceedsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NetLeaseJointVentureMember_062bb226-a3af-4e75-ad8a-db531241be12_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-20251231.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_srt_EquityMethodInvesteeNameDomain_ef02a2b3-523e-41bc-b5a7-b5b4529b1bd2_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/2025/elts/srt-2025.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_ShareBasedCompensationOptionAndIncentivePlansPolicy_ac2a644e-21fd-4fe1-9013-737acc993fb5_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/2025/elts/us-gaap-2025.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_dei_TradingSymbol_4d6ccd1d-68b5-4272-8aee-a73f2aa084c9_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/2025/dei-2025.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_bxmt_VariableRateSpreadDomain_3b82db29-1e53-4f19-a07c-7b7300b4fef4_terseLabel_en-US" xlink:label="lab_bxmt_VariableRateSpreadDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Domain]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadDomain_label_en-US" xlink:label="lab_bxmt_VariableRateSpreadDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Domain]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadDomain_documentation_en-US" xlink:label="lab_bxmt_VariableRateSpreadDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_VariableRateSpreadDomain" xlink:href="bxmt-20251231.xsd#bxmt_VariableRateSpreadDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_VariableRateSpreadDomain" xlink:to="lab_bxmt_VariableRateSpreadDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale_d6566182-f1a9-4cea-8f7e-7064309c79ad_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-20251231.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_e5ea680c-ff3a-4e19-9aea-aa2f5dd4b3b8_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-20251231.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_b6d4e542-e643-4753-8c78-7829626e7b25_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_f89ce41e-954c-40ab-b0ef-e847276fd1ae_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-20251231.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_dei_EntityAddressCityOrTown_13208d6d-e216-42f4-b874-c466768bf3f9_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/2025/dei-2025.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_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities_d75c0f39-bd78-46a9-bcbb-22c7766bc43a_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-20251231.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_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_045c2859-603b-46f1-b8ae-de7c3bfdd309_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/2025/elts/us-gaap-2025.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_bxmt_RealEstateOwnedUsefulLife_d33368b7-4a47-44f9-b3b3-b9ad10c2eb9b_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-20251231.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_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_1354e717-e112-42e6-b1b8-f1ed59aec5c0_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/2025/elts/us-gaap-2025.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" 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/2025/ecd-2025.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_IncomeStatementLocationDomain_f4b6f718-cad8-4a20-8415-10a5266d60ae_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Income Location, Balance [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeStatementLocationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationDomain" xlink:to="lab_us-gaap_IncomeStatementLocationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansDomain_29b0ae75-09a1-4a59-893f-d0a200941e54_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-20251231.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_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock_bfdd0c41-550b-463f-a017-1e4611ec750c_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/2025/elts/us-gaap-2025.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_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations_9b36d613-0b33-430c-848f-e69ec4edb8ec_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-20251231.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_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/2025/ecd-2025.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_B1TermLoanDue2026Member_6f573fcb-d673-4ef5-87ac-cce8a62fd38f_terseLabel_en-US" xlink:label="lab_bxmt_B1TermLoanDue2026Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-1 Term Loan</link:label>
    <link:label id="lab_bxmt_B1TermLoanDue2026Member_label_en-US" xlink:label="lab_bxmt_B1TermLoanDue2026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-1 Term Loan Due 2026 [Member]</link:label>
    <link:label id="lab_bxmt_B1TermLoanDue2026Member_documentation_en-US" xlink:label="lab_bxmt_B1TermLoanDue2026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-1 Term Loan Due 2026</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B1TermLoanDue2026Member" xlink:href="bxmt-20251231.xsd#bxmt_B1TermLoanDue2026Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B1TermLoanDue2026Member" xlink:to="lab_bxmt_B1TermLoanDue2026Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_7855fdbf-d053-4b3f-b0b1-a217eb7f7b64_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average price of repurchase</link:label>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_3382c37f-a05f-4058-858d-23819d951bc3_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Repurchase weighted-average price, percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_label_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Repurchase Weighted-Average Price, Percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Repurchase Weighted-Average Price, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:href="bxmt-20251231.xsd#bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:to="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_58f6317d-9228-4eee-a891-5cc294046e62_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/2025/dei-2025.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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4187fc8e-043b-4d2f-9e75-4169fd9204dd_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">2028</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/2025/elts/us-gaap-2025.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_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>
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    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_6a5740e1-c14f-41a7-8691-0390967ee1c8_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_6311dae4-b64d-4b9f-809c-4b9fc5dc2bea_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/2025/elts/us-gaap-2025.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_us-gaap_DeferredFinanceCostsNet_ab9ca3e8-d394-4fc4-9942-44bd86bfec1b_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/2025/elts/us-gaap-2025.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_us-gaap_DerivativeGainLossOnDerivativeNet_42a2f200-18b0-41d7-bc8a-4bc962a65469_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 (gain) on derivative financial instruments, net</link:label>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_00d53431-04b1-4c83-8c8c-deada7aa4bd3_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/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeGainLossOnDerivativeNet"/>
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    <link:label id="lab_bxmt_NonUSLoansMember_d793b219-bb3e-4f85-a5ce-452a9300122f_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-20251231.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_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid_56bc4006-50a3-466a-8f2b-fc125aa84d03_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-20251231.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_LeasesAcquiredInPlaceMember_1001bfa9-acf2-40b5-bd34-6404a22a226a_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/2025/elts/us-gaap-2025.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_NoninterestIncome_32e5c22c-f1d6-4130-a142-debaf24cf38c_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/2025/elts/us-gaap-2025.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_us-gaap_CommonStockSharesOutstanding_85422f5e-5872-4ffb-87e0-159f50ac7a31_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/2025/elts/us-gaap-2025.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_bxmt_AgencyMultifamilyLendingPartnershipMember_ad61b9f3-f50f-4cbf-bdc4-2dba04c58c13_terseLabel_en-US" xlink:label="lab_bxmt_AgencyMultifamilyLendingPartnershipMember" 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_bxmt_AgencyMultifamilyLendingPartnershipMember_label_en-US" xlink:label="lab_bxmt_AgencyMultifamilyLendingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Agency Multifamily Lending Partnership [Member]</link:label>
    <link:label id="lab_bxmt_AgencyMultifamilyLendingPartnershipMember_documentation_en-US" xlink:label="lab_bxmt_AgencyMultifamilyLendingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Agency Multifamily Lending Partnership</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AgencyMultifamilyLendingPartnershipMember" xlink:href="bxmt-20251231.xsd#bxmt_AgencyMultifamilyLendingPartnershipMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AgencyMultifamilyLendingPartnershipMember" xlink:to="lab_bxmt_AgencyMultifamilyLendingPartnershipMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet_83aabfe0-b001-48b2-b5b3-2f6d72699980_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-20251231.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_NoninterestExpenseAbstract_d009b445-e5a6-4d7a-bf08-cb5ab3d4b881_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>
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    <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_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation_38377f26-ec59-4ff0-8542-013e673990ca_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>
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    <link:label id="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock_008cd288-6a76-4d81-9e8c-372b94b427f4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Restricted Class A Common Stock and Deferred Stock Units</link:label>
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    <link:label id="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances_946fd95f-0c54-4423-8c6a-670f962133cd_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>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:href="bxmt-20251231.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_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_8db796a8-8d8a-4ede-875b-b4e463ef3f19_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>
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    <link:label id="lab_bxmt_B4TermLoanDue2029Member_5be57ee4-3e94-421f-b61a-347d4572c03f_terseLabel_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-4 Term Loan</link:label>
    <link:label id="lab_bxmt_B4TermLoanDue2029Member_label_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029 [Member]</link:label>
    <link:label id="lab_bxmt_B4TermLoanDue2029Member_documentation_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B4TermLoanDue2029Member" xlink:href="bxmt-20251231.xsd#bxmt_B4TermLoanDue2029Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B4TermLoanDue2029Member" xlink:to="lab_bxmt_B4TermLoanDue2029Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_947c126b-2f73-41a3-98a5-efee9bb0f5a2_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_us-gaap_GuaranteeObligationsCurrentCarryingValue_78c66b94-b75a-4444-bcac-2cdc6977e458_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/2025/elts/us-gaap-2025.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_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_34f18cc9-077e-43f5-91ba-f26b4ee520a8_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 Finite-Lived Intangible Assets, Future 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">Schedule of Finite-Lived Intangible Assets, Future 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/2025/elts/us-gaap-2025.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_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_acb5c438-992d-4b0f-a651-a63c22b46bcb_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeographicDistributionForeignMember_94a0e570-3b1a-458b-a9b6-ec637dfeb87a_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember" 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_us-gaap_GeographicDistributionForeignMember_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Foreign [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionForeignMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeographicDistributionForeignMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionForeignMember" xlink:to="lab_us-gaap_GeographicDistributionForeignMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor_927970d9-27bd-47ef-ad24-5a8fd733280d_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-20251231.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_182a0e41-fbdf-42b2-8c43-84124b81a97e_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-20251231.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_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_ffb0b714-498f-45aa-8813-7053558d9cfc_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/2025/elts/us-gaap-2025.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_us-gaap_DebtInstrumentInterestRateEffectivePercentage_22e7b411-da55-488a-8945-5fa3da55d678_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/2025/elts/us-gaap-2025.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_dei_EntityAddressPostalZipCode_f33a3072-9255-42b5-b899-938730cec45c_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/2025/dei-2025.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_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/2025/ecd-2025.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_bxmt_LoanParticipationsSoldLiabilitiesFairValue_8d6d17a4-f661-4aed-addc-fff11ce9fcae_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold, net, fair value</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liabilities, Fair Value</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liabilities, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldLiabilitiesFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:to="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_c2fe28f5-b003-402d-a00a-6f496aa9bc37_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/2025/elts/us-gaap-2025.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_PaymentsToAcquireLoansReceivable_8f748b1b-e77d-41ab-9ae5-43761ede8cd1_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan fundings</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansReceivable_f7870ec1-cb7e-48f8-8f4e-1337c9b1019c_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/2025/elts/us-gaap-2025.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_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_2ee721f4-6665-4c38-bd2e-633abfb4069e_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/2025/elts/us-gaap-2025.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_bxmt_AuditInformationAbstract_label_en-US" xlink:label="lab_bxmt_AuditInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit Information [Abstract]</link:label>
    <link:label id="lab_bxmt_AuditInformationAbstract_documentation_en-US" xlink:label="lab_bxmt_AuditInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Audit Information</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AuditInformationAbstract" xlink:href="bxmt-20251231.xsd#bxmt_AuditInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AuditInformationAbstract" xlink:to="lab_bxmt_AuditInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssets_d8e45e12-d1f5-4402-a873-7b4cfb02229c_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_43f3cccb-b3fa-4c76-94af-f346ba7716bb_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_b6db4348-3936-477d-aa16-3c6f06c64388_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/2025/elts/us-gaap-2025.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_bxmt_SecuredCreditFacilityMember_48e9e37a-05ce-4e19-803d-5d0c7263adc3_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-20251231.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_PreferredStockSharesIssued_36b338e5-62f6-4ab6-867e-de4ffddb47f5_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_us-gaap_DesignatedAsHedgingInstrumentMember_c7bca157-bb68-43c2-8f63-9d1650611005_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_254a6c93-5818-41d2-a99e-836066d8fc61_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/2025/elts/us-gaap-2025.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_us-gaap_FairValueByFairValueHierarchyLevelAxis_d614eec9-5d8c-4634-bcd4-6065f2c729f6_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/2025/elts/us-gaap-2025.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_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis_9516ff75-b1ad-4195-9e88-6532373fbe03_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/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember_7572d82e-40e9-4bf9-988f-8744f534f732_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-20251231.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_019b9379-5f8a-75bb-80d8-3bdd6f90ef04_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-20251231.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_bxmt_NumberOfLoanParticipationsSold_cf141909-7752-4bca-b7ac-0511941da5d6_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoanParticipationsSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count</link:label>
    <link:label id="lab_bxmt_NumberOfLoanParticipationsSold_label_en-US" xlink:label="lab_bxmt_NumberOfLoanParticipationsSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_NumberOfLoanParticipationsSold_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoanParticipationsSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoanParticipationsSold" xlink:href="bxmt-20251231.xsd#bxmt_NumberOfLoanParticipationsSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoanParticipationsSold" xlink:to="lab_bxmt_NumberOfLoanParticipationsSold" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_ade4cbea-fd59-4418-82c2-6ce2ea90e2c1_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/2025/elts/us-gaap-2025.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_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate_4d22e07a-63cc-4dc2-aeaf-dde177328688_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Payment Rates, Fixed</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate_label_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate" 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, Stated Interest Rate</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate_documentation_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment In Mortgage Loans On Real Estate, Stated Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate" xlink:href="bxmt-20251231.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateStatedInterestRate"/>
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    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_7d4cb7d7-29a5-42af-8951-bde7d4c6c1ba_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_bxmt_A2020FL3UnderlyingCollateralAssetsMember_000847a6-6d8e-4bb2-8089-3762a50bb42e_terseLabel_en-US" xlink:label="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020 FL3 Underlying Collateral Assets</link:label>
    <link:label id="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember_label_en-US" xlink:label="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2020 FL3 Underlying Collateral Assets [Member]</link:label>
    <link:label id="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2020 FL3 Underlying Collateral Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:href="bxmt-20251231.xsd#bxmt_A2020FL3UnderlyingCollateralAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:to="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" 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/2025/ecd-2025.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_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>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjFnTextBlock"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_a5162a97-0319-4cd4-9cf8-847c274b4dc4_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
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    <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/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_a0820952-39ff-40d8-bc23-43423be49329_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">2026</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_987f18db-f242-4e5b-b58f-a85fca558ba8_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>
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    <link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember_0de417de-db31-484c-a7f7-e44eea3ce460_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>
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    <link:label id="lab_us-gaap_RealEstateLineItems_eafa8ae3-3d84-4be4-afa8-a36b8c5511ae_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/2025/elts/us-gaap-2025.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_ScheduleOfEquityMethodInvestmentsLineItems_e8242e7f-b449-440d-8fb5-9167ee0b9388_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/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
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    <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>
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    <link:label id="lab_bxmt_PerformPropertiesLLCMember_cfa7ceab-aa41-47e8-ab61-1d37d2bfbfef_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>
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    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_ef4fcce0-186f-4ad4-9349-657717574658_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>
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    <link:label id="lab_us-gaap_ConvertibleDebtMember_fea374d8-2190-4cd7-bdf3-183046a68739_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/2025/elts/us-gaap-2025.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_bxmt_RelatedPartyTransactionInterestInLoanPercentage_33bfe6dc-4d85-4605-a936-a6ab68d7115e_terseLabel_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related party transaction, interest in loan, percentage</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage_label_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Interest In Loan, Percentage</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage_documentation_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Interest In Loan, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:href="bxmt-20251231.xsd#bxmt_RelatedPartyTransactionInterestInLoanPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:to="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1_9989157a-018a-4253-adb8-c9660b2117eb_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax basis of loans</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" 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, Federal Income Tax Basis</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" xlink:to="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" 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/2025/ecd-2025.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_us-gaap_SecuredDebtOther_019bdded-a129-70ba-a6b6-58388609cb62_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/2025/elts/us-gaap-2025.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_us-gaap_NumberOfReportableSegments_147070b5-ce3c-4dae-99dd-a557c9375e5e_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/2025/elts/us-gaap-2025.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_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation_68e44cb6-bd71-4744-9fe4-98d122a4cfc1_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-20251231.xsd#bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:to="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield_589c54e6-22f7-4bc5-8aab-aefcaf24aa3a_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-20251231.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_CommercialRealEstateMember_2867da19-bab7-49a8-913e-e9c55f2f3cfa_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/2025/elts/us-gaap-2025.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_bxmt_ExtendedMaturityLoanSixMember_32d4e442-6046-4b0e-af31-87e98929737a_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanSixMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Six</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanSixMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanSixMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Six [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanSixMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanSixMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Six</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanSixMember" xlink:href="bxmt-20251231.xsd#bxmt_ExtendedMaturityLoanSixMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanSixMember" xlink:to="lab_bxmt_ExtendedMaturityLoanSixMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_0befaa15-d4d6-4399-b493-374ea8c17312_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/2025/elts/us-gaap-2025.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_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_79116269-c7f9-4ad8-a166-c00674963be8_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/2025/elts/srt-2025.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_dei_EntityAddressStateOrProvince_67f925ad-4cd5-4234-a370-6f7997569ff7_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/2025/dei-2025.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_us-gaap_DividendsCommonStock_259750fd-e056-49f3-a7c7-d099b1255b2d_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/2025/elts/us-gaap-2025.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_currency_EUR_b4b41d20-4c92-4ecf-8414-bf95d048983e_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/2025/currency-2025.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_LoansReceivableFairValueDisclosure_348f0f9f-0dec-41ba-b82d-ccecf85ef701_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification_c086ac48-8f86-4397-9e10-1e85e5a2c331_verboseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in rate</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-20251231.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_PaymentsOfDividendsCommonStock_554913ed-d278-4943-b82f-5f520a4f807d_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/2025/elts/us-gaap-2025.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_dei_DocumentAnnualReport_5e1a8cff-8c95-4012-b123-e004aca6ffa1_terseLabel_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Annual Report</link:label>
    <link:label id="lab_dei_DocumentAnnualReport_label_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Annual Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentAnnualReport" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentAnnualReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentAnnualReport" xlink:to="lab_dei_DocumentAnnualReport" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable0.01To1.00FloorMember_cd88c9a0-f137-4734-a530-58bd31a47eaf_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-20251231.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_bxmt_LendingOneMember_8480053b-b62e-4d0f-bf2d-8d49cfa9a788_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</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-20251231.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_ProceedsFromMinorityShareholders_f16667f5-5bc3-4733-946e-e60b703ce85b_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interests</link:label>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:to="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfessionalAndContractServicesExpense_96b444ce-2209-457f-9d57-a0e8c6d6f238_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 Contract Services Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalAndContractServicesExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_445d90a5-aa43-458b-9a91-bdc571ca5d14_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/2025/elts/us-gaap-2025.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_us-gaap_RepaymentsOfLongTermDebt_a47237d3-19db-4317-a96c-083bdd8620a1_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_4bd510b8-5ed6-4930-bd29-5db445922a68_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/2025/elts/us-gaap-2025.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_dei_EntityInteractiveDataCurrent_b661263c-6cdd-4163-919d-c440fdb9f395_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>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityInteractiveDataCurrent"/>
    <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_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember_13a9e747-b807-4cf5-b302-17c89782c75a_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-20251231.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_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_e9622616-34c0-4764-b67a-ca96403a9f36_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">2028</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/2025/elts/us-gaap-2025.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_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract_2df15a09-08ce-40fc-ba8f-8601d427b4a1_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross charge-offs</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" 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, by Origination Year [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_BelowMarketLeaseAmortizationIncomeYearTwo_25ec04e1-37f6-4203-9d92-20c50c9a62e7_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">2027</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/2025/elts/us-gaap-2025.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_MixedUseAssetMember_652a945e-9b48-4430-aaf7-4ed5c98d2660_terseLabel_en-US" xlink:label="lab_bxmt_MixedUseAssetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mixed Use Asset</link:label>
    <link:label id="lab_bxmt_MixedUseAssetMember_label_en-US" xlink:label="lab_bxmt_MixedUseAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mixed Use Asset [Member]</link:label>
    <link:label id="lab_bxmt_MixedUseAssetMember_documentation_en-US" xlink:label="lab_bxmt_MixedUseAssetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mixed Use Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MixedUseAssetMember" xlink:href="bxmt-20251231.xsd#bxmt_MixedUseAssetMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MixedUseAssetMember" xlink:to="lab_bxmt_MixedUseAssetMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_48fd4408-2d62-42e6-86d7-e982fb71f561_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/2025/elts/us-gaap-2025.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_RevenueFromContractWithCustomerPolicyTextBlock_0dcb260c-86a5-4e9d-89a3-2b8b94c5999e_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/2025/elts/us-gaap-2025.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_us-gaap_NoninterestExpense_77d01359-044e-4d23-842d-627890d4ae22_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/2025/elts/us-gaap-2025.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_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember_934f14f0-1feb-4d28-8276-30e72188cb08_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-20251231.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_e4005de9-aae0-43f3-85b5-e88ef086c970_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-20251231.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_us-gaap_PaymentDeferralMember_d760578e-9bc5-4461-92c9-739c93899dee_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/2025/elts/us-gaap-2025.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_bxmt_A12LoansMember_beac697d-294c-4de7-9178-a0f7e5e65737_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-20251231.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_d0bf894b-1c6f-4794-ad43-d303fda39ca8_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 gain (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-20251231.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_PropertyPlantAndEquipmentByTypeAxis_8f88a49a-9648-42c1-b192-e2d937d08e6a_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 Tangible Asset [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 Tangible Asset [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_srt_OwnershipDomain_efc76f13-4e99-4532-b641-59bb66651d4e_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/2025/elts/srt-2025.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_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities_cfbe18b5-1ec6-4f9a-86e5-8f452c508d84_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-20251231.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_bxmt_RiskRatingTwoMember_af7363b4-4314-464f-9855-9b959259cd01_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_1fe4152f-8a45-4033-9116-715c0bcc2c54_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-20251231.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_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_afe72f89-0b87-4594-bbb8-5cef24eab89d_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/2025/elts/us-gaap-2025.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_dei_EntityCentralIndexKey_26c59573-d54b-4c20-a6de-5bd3aff376a7_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/2025/dei-2025.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_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/2025/ecd-2025.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_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_a6d6cfc9-abd0-475f-8df4-882039c495b8_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/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
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    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1_48e431ac-30cb-47b1-949c-1c2bf202d1b8_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/2025/elts/us-gaap-2025.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_us-gaap_BelowMarketLeaseNet_f17c4588-ae99-45af-b37d-bbed541bc21c_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/2025/elts/us-gaap-2025.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_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>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.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_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_8c9abcff-7722-49d8-95ad-00af25fb2f57_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/2025/elts/us-gaap-2025.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_FinancingReceivableCreditQualityIndicatorsTableTextBlock_8f2fe415-df27-4366-b94c-9f2b0d47cee8_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">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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_AnnualDirectorCompensationCash_7fe1ad1c-106e-4f44-b48d-496a6a4276af_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-20251231.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_421c31e3-271e-42a8-9ec3-74e63fd5016f_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_031b61c1-b226-41e5-9881-815a41c38dfb_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-20251231.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_ShareBasedCompensationAwardTrancheOneMember_dcdf7ef1-8445-4815-8591-08d05fbd8f5f_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/2025/elts/us-gaap-2025.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_LoanParticipationsSoldDomain_23c4045f-55c1-4bbd-b8f2-49a37760f1a1_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Domain]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDomain_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Domain]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDomain_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldDomain" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldDomain" xlink:to="lab_bxmt_LoanParticipationsSoldDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_04f73ce4-1dae-4194-b335-f786bb6baa63_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/2025/elts/srt-2025.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_bxmt_ManagementFeeCoreEarningsMeasurementPeriod_1792c305-6401-47ee-8d82-ab580dd7f0d7_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-20251231.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_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_f5657d89-72d2-4719-b8dc-b6dbf97f08e4_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/2025/elts/us-gaap-2025.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_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_1b2cc84b-643c-4651-a8b7-f404811e11de_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">Summary of Fair Value of Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture1Member_af979568-9758-4d9f-bb50-519e71e4bba4_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-20251231.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_MovementInMortgageLoansOnRealEstateRollForward_8055ac30-fa5f-4b54-ac23-8771f235225f_terseLabel_en-US" xlink:label="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward_label_en-US" xlink:label="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" 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 Movement in Mortgage Loans on Real Estate [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MovementInMortgageLoansOnRealEstateRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:to="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" 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/2025/ecd-2025.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_dei_EntityFilerCategory_13b4c9f2-425b-4da6-a150-eed4932b6d09_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/2025/dei-2025.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_us-gaap_ClassOfStockDomain_0f4a0cbf-3f94-42f6-9188-70d29c95fb03_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/2025/elts/us-gaap-2025.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_StockIssuedDuringPeriodSharesDeferredStockUnits_a43505d0-a576-47b6-ad21-52e237d1b1ce_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-20251231.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_us-gaap_SubsequentEventTypeAxis_9f4bab6a-8aa9-4cc1-aebc-5383484ffe2c_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuritizedDebtObligationMember_5f07e55c-e531-447b-a30f-3984a4bf8f7a_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-20251231.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_b539af2c-a0c1-452a-86cf-bd2df945be3a_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-20251231.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_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract_a0cdeca8-9a50-44b3-ad53-8b4beb83b6c4_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions during period:</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract_label_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract" 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, Additions [Abstract]</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract_documentation_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Additions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract" xlink:href="bxmt-20251231.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAdditionsAbstract"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_e6d72b6a-c9a4-4dd3-8daf-beb52376a711_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">2028</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">Finite-Lived Intangible Asset, Expected Amortization, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_bxmt_USLoansMember_9c8973ad-5f9a-4d6f-b4b5-4b12c8f0be80_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-20251231.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_RealEstateAcquiredThroughForeclosure_d202ddf0-4256-4125-bfce-3990bd807bca_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_c7197938-39bc-401e-8266-f2f74c042dec_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/2025/elts/us-gaap-2025.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_us-gaap_VestingDomain_20e26b0c-a07e-4f05-9d67-35ac88f53dc4_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/2025/elts/us-gaap-2025.xsd#us-gaap_VestingDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingDomain" xlink:to="lab_us-gaap_VestingDomain" 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>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:to="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_a3b71573-cfd2-49dc-b705-effc7c6c0587_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/2025/dei-2025.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_AccumulatedOtherComprehensiveIncomeMember_9cecd63d-9ef0-4b96-b308-a2c2a288910d_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/2025/elts/us-gaap-2025.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_us-gaap_InvestmentTypeCategorizationMember_cb61aef5-e522-4cb7-8193-041dee6eaf21_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/2025/elts/us-gaap-2025.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_bxmt_B9TermLoanDue2030Member_019bfe4f-7150-79a4-a25a-02498b78eab2_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-20251231.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_InternalCreditAssessmentAxis_b502f56e-7347-401e-a40a-7bacd92978b7_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/2025/elts/us-gaap-2025.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_InternalCreditAssessmentDomain_ce84d3df-b04a-4f44-9a09-fd0b412b2df6_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/2025/elts/us-gaap-2025.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_srt_OwnershipAxis_f0ab5b4b-cbfe-487b-bd3a-8ff5c5811c3a_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/2025/elts/srt-2025.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_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems_d454a9c2-e0ae-4d2f-b703-13bc202f4bcd_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems_label_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:href="bxmt-20251231.xsd#bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:to="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_9d6f8410-f163-47e5-914c-42c84af014e8_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/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"/>
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    <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/2025/ecd-2025.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_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock_bb7bd24f-3992-41a0-b16f-94d8bccf088a_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-20251231.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_bxmt_CashAndCashEquivalents_d87610d0-f77a-4ed6-87cd-78d899efec22_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-20251231.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_OperatingLossCarryforwards_dcd7b7b8-e357-4460-861c-aa2170f92db4_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/2025/elts/us-gaap-2025.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_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear_854c93b1-de0e-47c8-9808-6d8ffefd0283_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear"/>
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    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_1687d0e7-e33e-4fb4-9482-268e35701e49_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/2025/elts/us-gaap-2025.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_bxmt_ExtendedMaturityLoanTwoMember_6d8f7f90-b312-42ec-81a4-20dc85971666_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Two</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanTwoMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Two [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanTwoMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanTwoMember" xlink:href="bxmt-20251231.xsd#bxmt_ExtendedMaturityLoanTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanTwoMember" xlink:to="lab_bxmt_ExtendedMaturityLoanTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_ad82c62a-84fc-4ff6-acfb-c7fc6f42273c_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_851b47bc-5a76-4a95-bc18-1f9147248624_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
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    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet_f57e27af-59b0-4a17-a954-b4fc164235ca_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_70315759-c7ea-4978-b388-12c06bcba98e_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-20251231.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_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_ddbc0120-5e1f-43b8-88b7-df532bfcf277_negatedLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loan repayments, sales, and cost-recovery proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_label_en-US" xlink:label="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:to="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain_d2aeede5-db97-48af-818e-64e2c4b8aae2_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/2025/elts/srt-2025.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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_fcc8e04c-2870-45a0-8170-fa72e2edc386_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/2025/elts/us-gaap-2025.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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_39b52689-908b-457b-a5d8-615709cb0438_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>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_54fcfbc3-4bbe-4ced-b5cc-4636ece2f8c4_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/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
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    <link:label id="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent_51755b5a-c18c-4c95-8413-813f848e82c5_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>
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    <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_bxmt_BTIGLLCMember_db2522a0-60ee-4969-ba3e-0e1f5b19c731_terseLabel_en-US" xlink:label="lab_bxmt_BTIGLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BTIG, LLC</link:label>
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    <link:label id="lab_bxmt_BTIGLLCMember_documentation_en-US" xlink:label="lab_bxmt_BTIGLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BTIG, LLC</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BTIGLLCMember" xlink:to="lab_bxmt_BTIGLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CompensationCommitteeMember_bb47b9ac-5747-4680-965d-c21d7de85ccb_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-20251231.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_us-gaap_LongTermDebtFairValue_953fd932-cdd3-4a6b-9c3c-af7467c79d50_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_SecondMortgageMember_fe654e6d-1bbc-4391-9ba1-56ed262f81c5_terseLabel_en-US" xlink:label="lab_us-gaap_SecondMortgageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Second Mortgage</link:label>
    <link:label id="lab_us-gaap_SecondMortgageMember_label_en-US" xlink:label="lab_us-gaap_SecondMortgageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Second Mortgage [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecondMortgageMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecondMortgageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecondMortgageMember" xlink:to="lab_us-gaap_SecondMortgageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_18694bad-31de-4d67-8fc5-a61bb4c3b6d7_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/2025/elts/srt-2025.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_NewYorkNYMember_71dcd14e-d6e7-4586-96b4-4ce2aaaa0997_terseLabel_en-US" xlink:label="lab_bxmt_NewYorkNYMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New York, NY</link:label>
    <link:label id="lab_bxmt_NewYorkNYMember_label_en-US" xlink:label="lab_bxmt_NewYorkNYMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New York, NY [Member]</link:label>
    <link:label id="lab_bxmt_NewYorkNYMember_documentation_en-US" xlink:label="lab_bxmt_NewYorkNYMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">New York, NY</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NewYorkNYMember" xlink:href="bxmt-20251231.xsd#bxmt_NewYorkNYMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NewYorkNYMember" xlink:to="lab_bxmt_NewYorkNYMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock_baf6460d-79e2-42d9-9b61-5f21a9d18586_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock_label_en-US" xlink:label="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Loan Participations Sold [Table Text Block]</link:label>
    <link:label id="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:href="bxmt-20251231.xsd#bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:to="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" 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/2025/ecd-2025.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_InvestmentTypeAxis_62191f81-14f0-40e5-833c-223e43668e61_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_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/2025/ecd-2025.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_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation_9be63fb4-4afc-424b-910a-9165bdde9542_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-20251231.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_15d20b44-bf9e-4c63-8589-860964312adf_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-20251231.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_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/2025/ecd-2025.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_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions_a07f2db4-a28a-43d8-b585-0c8fcdb7d8f1_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-20251231.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_SubsidiarySaleOfStockAxis_a65780e9-e916-4c90-ae3b-4fc888dfdb7e_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/2025/elts/us-gaap-2025.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_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_45c51ec6-e740-4a1b-885c-eaa7061a85a0_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/2025/elts/us-gaap-2025.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_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax_7bc2fa18-00ab-4fb5-bc35-6f2ee78ba462_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/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromLoansReceivable_f8c0ba9c-bd75-4478-9770-36c287e4e437_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/2025/elts/us-gaap-2025.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_MinorityInterest_0174473a-7b2c-456e-b41e-fe8198938e09_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_bxmt_FinancingReceivableNumberOfLoans_5e767420-8958-428e-8a81-7b5113e007bf_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_322fc751-883d-4743-810a-97e15e06cc8e_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-20251231.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_LeaseholdImprovementsMember_c5ec1016-853d-4a62-bf7e-6e5bf7ded6f2_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/2025/elts/us-gaap-2025.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_BelowMarketLeaseAmortizationIncomeAfterYearFive_496c5431-bf75-4cb1-9d52-05e622e39044_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" 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/2025/ecd-2025.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_country_CA_d476b396-c0ad-4edf-a138-7786626380a9_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/2025/country-2025.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_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/2025/ecd-2025.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_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation_6ff6595c-d9da-4a91-9cf6-77b971a2ddf8_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation_label_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:to="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoanAmount_569fb6bd-e15c-48cc-9a30-b343984d51ce_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Book Value, total loan</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoanAmount_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan, Amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoanAmount_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldTotalLoanAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:to="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_34d7583f-c59a-4165-8a8f-db03e77451de_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/2025/elts/us-gaap-2025.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_StraightLineRent_475f3921-0309-46b1-9e9e-1baf92e1f0b1_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/2025/elts/us-gaap-2025.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_ForeignExchangeContractMember_a34841d4-4994-4e61-8881-eed6e2dc4432_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_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/2025/ecd-2025.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_country_AU_b13880a4-d713-403a-91c9-ccb7e188b497_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/2025/country-2025.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_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff_5631ff6c-288a-4ddf-8198-400c1b5c5e46_negatedTotalLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Charge-offs(3)</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-20251231.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_dei_DocumentsIncorporatedByReferenceTextBlock_16687901-e4da-4c9f-8e68-2ebceec8fceb_terseLabel_en-US" xlink:label="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Documents Incorporated by Reference</link:label>
    <link:label id="lab_dei_DocumentsIncorporatedByReferenceTextBlock_label_en-US" xlink:label="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentsIncorporatedByReferenceTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract_c0ef2bdc-93d4-4c6b-a354-40f362e6e3f9_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/2025/elts/us-gaap-2025.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_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff_64624ddd-c652-4f2d-8b64-fea487eba113_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" 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, Writeoff</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" 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, Fee, And Loan In Process, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AuditCommitteeMembersMember_d3e7012c-7866-44d3-9075-804d9d7181c8_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-20251231.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_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_f100753e-80f1-497b-bd69-ce95988f66f1_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/2025/elts/us-gaap-2025.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_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock_a0c75335-374b-46e6-960b-71e3b858bdd5_terseLabel_en-US" xlink:label="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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-20251231.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_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_4229f40c-7909-4d30-bc5a-37d7e62954a0_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">2026</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/2025/elts/us-gaap-2025.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_HedgedLiabilityStatementOfFinancialPositionExtensibleEnumeration_15aa060e-b2a8-4030-8889-33ac40e6b8d2_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/2025/elts/us-gaap-2025.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_bxmt_DividendsCommonStockPercentage_09e7b040-ea87-47e3-bcf5-640de404aecb_totalLabel_en-US" xlink:label="lab_bxmt_DividendsCommonStockPercentage" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Percent taxable as dividends</link:label>
    <link:label id="lab_bxmt_DividendsCommonStockPercentage_label_en-US" xlink:label="lab_bxmt_DividendsCommonStockPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock, Percentage</link:label>
    <link:label id="lab_bxmt_DividendsCommonStockPercentage_documentation_en-US" xlink:label="lab_bxmt_DividendsCommonStockPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of common stock dividends declared.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DividendsCommonStockPercentage" xlink:href="bxmt-20251231.xsd#bxmt_DividendsCommonStockPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DividendsCommonStockPercentage" xlink:to="lab_bxmt_DividendsCommonStockPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_ca9c79c3-be08-466f-8e7f-ec619bb43618_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" 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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" 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/2025/ecd-2025.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_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember_ecc8680c-eea2-480a-bfdc-72e56b3cc8bb_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-20251231.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_ChicagoILMember_fd16aeea-7cc5-45df-983b-cae8518dc226_terseLabel_en-US" xlink:label="lab_bxmt_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chicago, IL</link:label>
    <link:label id="lab_bxmt_ChicagoILMember_label_en-US" xlink:label="lab_bxmt_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chicago, IL [Member]</link:label>
    <link:label id="lab_bxmt_ChicagoILMember_documentation_en-US" xlink:label="lab_bxmt_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Chicago, IL</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ChicagoILMember" xlink:href="bxmt-20251231.xsd#bxmt_ChicagoILMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ChicagoILMember" xlink:to="lab_bxmt_ChicagoILMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_7ca726a7-ccde-4b8b-b818-a2afab1b2f46_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash proceeds</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Principal Repayment, Loan and Lease, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:to="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanPrincipalPaymentsHeldByServicer_ccba2e76-6213-438b-8ada-9c5b7b486692_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-20251231.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_FiniteLivedIntangibleAssetsByMajorClassAxis_2e5270b1-c3eb-48c1-a443-e4bb4503840a_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">Finite-Lived Intangible Assets by Major 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">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_srt_MinimumMember_558924ba-e1f4-4866-9326-4d8eb800b484_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/2025/elts/srt-2025.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_bxmt_A2.01OrMoreMember_4eb6e636-957d-40fe-99d4-6500881e443d_terseLabel_en-US" xlink:label="lab_bxmt_A2.01OrMoreMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 2.01% or more</link:label>
    <link:label id="lab_bxmt_A2.01OrMoreMember_label_en-US" xlink:label="lab_bxmt_A2.01OrMoreMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2.01% Or More [Member]</link:label>
    <link:label id="lab_bxmt_A2.01OrMoreMember_documentation_en-US" xlink:label="lab_bxmt_A2.01OrMoreMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2.01% Or More</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2.01OrMoreMember" xlink:href="bxmt-20251231.xsd#bxmt_A2.01OrMoreMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2.01OrMoreMember" xlink:to="lab_bxmt_A2.01OrMoreMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_95ac0dfd-81bf-4491-88f5-21263606b6c5_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_bxmt_FinancingReceivableModifiedNumberOfContracts_e4f174b2-5d88-41b6-a58d-a9cc627a4614_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-20251231.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_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation_5be671f4-a777-4b68-9592-d4daac5e4b1c_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-20251231.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_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/2025/ecd-2025.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_GeneralCECLReservesMember_cdf9648c-12ea-491b-960d-0b207cc1d364_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-20251231.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_3b56c40c-dc80-4cb5-a505-617f76e1a5fb_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-20251231.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_bxmt_DenverCOMember_ddf4a2e3-7d22-42f3-9399-86148cf3e63f_terseLabel_en-US" xlink:label="lab_bxmt_DenverCOMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Denver, CO</link:label>
    <link:label id="lab_bxmt_DenverCOMember_label_en-US" xlink:label="lab_bxmt_DenverCOMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Denver, CO [Member]</link:label>
    <link:label id="lab_bxmt_DenverCOMember_documentation_en-US" xlink:label="lab_bxmt_DenverCOMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Denver, CO</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DenverCOMember" xlink:href="bxmt-20251231.xsd#bxmt_DenverCOMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DenverCOMember" xlink:to="lab_bxmt_DenverCOMember" 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/2025/elts/us-gaap-2025.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_us-gaap_DividendsPayableCurrentAndNoncurrent_9308abf4-5b48-464a-b6cf-17799b8906d9_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_f7d34d5e-b6de-4c9a-8713-85f6055abcff_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/2025/elts/us-gaap-2025.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_CollateralDomain_95f7d460-a399-41aa-9972-96baac851416_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/2025/elts/us-gaap-2025.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_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember_d79029f1-ad5a-4df9-a52c-9859f62bb6c2_terseLabel_en-US" xlink:label="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performing Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:label id="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember_label_en-US" xlink:label="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performing Loans, Blackstone-Advised Investment Vehicle [Member]</link:label>
    <link:label id="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember_documentation_en-US" xlink:label="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performing Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:href="bxmt-20251231.xsd#bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:to="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_8777a777-937e-4bf2-98f4-1969b37273fc_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/2025/elts/us-gaap-2025.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_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_5aa28160-63df-4a8a-abdf-a8eedcc314a0_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>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Tranche Two [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationAwardTrancheTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember_a00c714a-2639-4e4b-b206-ce374e6ac9b3_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-20251231.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_WeightedAverageNumberOfDilutedSharesOutstanding_78fc7d6c-983e-48ae-a0e9-7c2402270d43_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_fa94baf5-b017-4873-9299-d867092ec612_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_bxmt_A1.50OrLessMember_e56a0f68-7db6-4bd9-9fc5-65930435ade5_terseLabel_en-US" xlink:label="lab_bxmt_A1.50OrLessMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 1.50% or less(7)</link:label>
    <link:label id="lab_bxmt_A1.50OrLessMember_label_en-US" xlink:label="lab_bxmt_A1.50OrLessMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">1.50% Or Less [Member]</link:label>
    <link:label id="lab_bxmt_A1.50OrLessMember_documentation_en-US" xlink:label="lab_bxmt_A1.50OrLessMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">1.50% Or Less</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A1.50OrLessMember" xlink:href="bxmt-20251231.xsd#bxmt_A1.50OrLessMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A1.50OrLessMember" xlink:to="lab_bxmt_A1.50OrLessMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeTable_0de57b6d-c2cf-43e3-bfb5-21f84db65954_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/2025/elts/us-gaap-2025.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_dei_EntitySmallBusiness_82c9d1ba-3a58-40d5-a342-fc5bbfbfc53e_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/2025/dei-2025.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_us-gaap_IncomeTaxDisclosureAbstract_218360af-6f2c-43e6-9c39-90482c1df4dd_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/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
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    <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>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive_f05ecbed-7b24-41ee-bf6e-b6bccc6c9982_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive" 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_BelowMarketLeaseAmortizationIncomeYearFive_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Five</link:label>
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    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAmortizationOfDeferredLoanOriginationFeesNet_e46268c8-dcfb-4d05-9f2b-db24f60af493_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of fees and other items</link:label>
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    <link:label id="lab_bxmt_SaleOfStockMaximumAuthorizedAmount_d1289e5f-c087-4ae7-9967-0c31731aa221_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>
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    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_27c22c7a-cfaf-4cd7-877a-89e5fa36ab77_negatedLabel_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments of loan participations</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_1394c61c-1e4f-4afe-9a37-01224bebdf7f_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>
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    <link:label id="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm_d57887ff-ac59-4d88-b6a3-b5d998b054e6_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>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis_2b09191a-a503-4689-9eb0-dfc65019d785_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category [Axis]</link:label>
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    <link:label id="lab_country_GB_76be8d4f-cfff-4ce2-93fa-7c4d55df470a_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>
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    <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/2025/ecd-2025.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_bxmt_ForeignExchangeContractBuyAustralianDollarSellUnitedStatesDollarMember_12c006d7-84f0-46c8-8b4b-b9f9de232d09_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-20251231.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_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet_f56ef6c3-1736-4759-9434-36b3375efc43_totalLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Loans, Net</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet_label_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet" 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, Net</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet_documentation_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment In Mortgage Loans On Real Estate, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet" xlink:href="bxmt-20251231.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet" xlink:to="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_585f5033-c803-40d1-9be3-b8bbb649f328_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_fa7517d9-5fe0-4e75-9ccd-2a5743c1302a_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-20251231.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_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_8acaa7f8-94d9-4eac-9a4a-00d16af6bfb6_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_646947f3-fde4-46d5-a8e9-04a6818656f2_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_98bc5fbf-48ab-4480-8677-573aa024b0b9_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_a583a7ac-a8cc-4191-ac28-1b29a235d1ce_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/2025/elts/us-gaap-2025.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_FirstMortgageMember_2a4461db-d3fc-4489-aa06-e6e075612268_terseLabel_en-US" xlink:label="lab_us-gaap_FirstMortgageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">First Mortgage</link:label>
    <link:label id="lab_us-gaap_FirstMortgageMember_label_en-US" xlink:label="lab_us-gaap_FirstMortgageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">First Mortgage [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FirstMortgageMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FirstMortgageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FirstMortgageMember" xlink:to="lab_us-gaap_FirstMortgageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember_6f8cc368-9f80-400e-aa1a-a57dfec1e414_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-20251231.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_dei_DocumentType_233e290d-b9c6-424b-a72f-c4568dfbb373_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/2025/dei-2025.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_FairValueInputsLevel3Member_4fde43b2-76ce-442d-b049-02b1b0495dfa_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/2025/elts/us-gaap-2025.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_EquityMethodInvestmentsFairValueDisclosure_a6e0674a-24e8-48c6-867b-b5d83afafaa5_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure_a9ed7cb6-316e-4299-a362-67372fe150be_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-20251231.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_AssetAcquisitionDomain_eb4c67d4-6578-4ff1-8bcd-f7c19e5f9142_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/2025/elts/us-gaap-2025.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_country_ES_a862470f-6a1b-4a3d-8e08-c6db1fcee9c2_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/2025/country-2025.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_RealEstateOwnedOtherIncome_897c00ae-f4f9-481f-a205-a625ed4c3b76_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-20251231.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_bxmt_DebtInstrumentNumberOfAdditionalLenders_019c44a8-007a-739b-9721-f82257fe3ba4_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfAdditionalLenders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of additional lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfAdditionalLenders_label_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfAdditionalLenders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Additional Lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfAdditionalLenders_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfAdditionalLenders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Additional Lenders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentNumberOfAdditionalLenders" xlink:href="bxmt-20251231.xsd#bxmt_DebtInstrumentNumberOfAdditionalLenders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentNumberOfAdditionalLenders" xlink:to="lab_bxmt_DebtInstrumentNumberOfAdditionalLenders" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_971471f2-2374-4cfd-ae95-6227508c506d_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/2025/elts/srt-2025.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_36135230-f726-46fd-af67-dc43a519c79d_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/2025/elts/srt-2025.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_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff_377c7c9a-2430-46dd-a3d1-c41f5296d750_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/2025/elts/us-gaap-2025.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_DerivativeFixedInterestRate_7b3bb5ee-2835-4392-a32b-d983976b06e7_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/2025/elts/us-gaap-2025.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_us-gaap_PaymentForManagementFee_288fa46a-2cf2-4d6c-8377-865458a410d9_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_58d568cc-57e8-4eab-a19a-675c79962615_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/2025/elts/srt-2025.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_us-gaap_ScheduleOfOtherAssetsTableTextBlock_7a3ed487-d622-4abd-a350-105519e91a15_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">Summary 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/2025/elts/us-gaap-2025.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_bxmt_FinancingReceivableNumberOfLoansModified_4854af55-d3d6-4af8-9f80-2d3170e3c3dc_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-20251231.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_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/2025/ecd-2025.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_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_95681d49-2c28-475e-b372-17e45f644886_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-20251231.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_NetIncomeLossAvailableToCommonStockholdersBasic_61290bbe-67d0-4748-9072-eaf1fd19376e_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/2025/elts/us-gaap-2025.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_bxmt_ImpairedSubordinateLoansMember_019bdde8-7ce4-7def-86ce-f79ca7cba6fb_terseLabel_en-US" xlink:label="lab_bxmt_ImpairedSubordinateLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impaired Subordinate Loans</link:label>
    <link:label id="lab_bxmt_ImpairedSubordinateLoansMember_label_en-US" xlink:label="lab_bxmt_ImpairedSubordinateLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impaired Subordinate Loans [Member]</link:label>
    <link:label id="lab_bxmt_ImpairedSubordinateLoansMember_documentation_en-US" xlink:label="lab_bxmt_ImpairedSubordinateLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Impaired Subordinate Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ImpairedSubordinateLoansMember" xlink:href="bxmt-20251231.xsd#bxmt_ImpairedSubordinateLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ImpairedSubordinateLoansMember" xlink:to="lab_bxmt_ImpairedSubordinateLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromSaleOfLoanParticipations_775f3f10-64d4-4016-bc7a-27c235d5b3e4_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromSaleOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of loan participations</link:label>
    <link:label id="lab_bxmt_ProceedsFromSaleOfLoanParticipations_label_en-US" xlink:label="lab_bxmt_ProceedsFromSaleOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Sale Of Loan Participations</link:label>
    <link:label id="lab_bxmt_ProceedsFromSaleOfLoanParticipations_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromSaleOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Sale Of Loan Participations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromSaleOfLoanParticipations" xlink:href="bxmt-20251231.xsd#bxmt_ProceedsFromSaleOfLoanParticipations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromSaleOfLoanParticipations" xlink:to="lab_bxmt_ProceedsFromSaleOfLoanParticipations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromLoanOriginations1_ae57df82-70f1-4336-903d-558774491896_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLoanOriginations1" 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_us-gaap_ProceedsFromLoanOriginations1_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLoanOriginations1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Loan Originations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromLoanOriginations1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromLoanOriginations1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLoanOriginations1" xlink:to="lab_us-gaap_ProceedsFromLoanOriginations1" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherRealEstateLiabilities_75c0f6bf-dcd7-4d2b-a2d9-5f507f741331_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-20251231.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_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_14da9c85-d6d5-424e-917a-bd7c61cdcd95_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">Summary 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/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_92b99351-cf33-413c-9c84-65b9af667f3a_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/2025/elts/us-gaap-2025.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_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable_78e69f00-f7b5-460c-b896-118b778b0a28_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Table]</link:label>
    <link:label id="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable_label_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Table]</link:label>
    <link:label id="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" xlink:href="bxmt-20251231.xsd#bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" xlink:to="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OciEquityMethodInvestmentAfterTax_7682ab9e-0d6e-40e5-bbef-af7f167869e1_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 loss on derivative financial instruments from unconsolidated entities</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_29ec3917-8a68-4c0e-ab2c-9882cff5542b_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/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
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    <link:label id="lab_us-gaap_EarningsPerShareDiluted_f3ed3452-8c83-4f9e-8abd-41c2714c506d_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_79d4b812-1229-4f6a-8cf0-32d252faec4c_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>
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    <link:label id="lab_srt_MultifamilyMember_4fab9368-8815-472a-9c03-7330a7ff3e66_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>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_79b4c41c-96de-4e43-8f25-08bdb836dabf_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule IV - Mortgage Loans on Real Estate</link:label>
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    <link:label id="lab_bxmt_RiskRatingFiveMember_d2865c4f-0f98-4927-8ffc-eba325253069_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>
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    <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>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod_a3c724cb-f69c-4a4c-b4d9-410252bb2f26_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod"/>
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    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_f2c54b72-25e4-498c-8bf7-db12dbb9ec1b_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction"/>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease_218976fa-73f4-4f43-b65f-71d1a6126693_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>
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherAssets1_0ddf1dff-e435-450a-9e75-5fbddff9ba57_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherAssets1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of assets</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_e5a0f95f-5572-43c7-85f7-3d61ea3c9a3d_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>
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    <link:label id="lab_dei_AuditorLocation_ad5db0c7-6197-40c7-ac77-8ce027f40c5e_terseLabel_en-US" xlink:label="lab_dei_AuditorLocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Auditor Location</link:label>
    <link:label id="lab_dei_AuditorLocation_label_en-US" xlink:label="lab_dei_AuditorLocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Auditor Location</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AuditorLocation" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AuditorLocation"/>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_d0a20ba5-4b78-4c63-aa4f-a901585bf3a4_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">2029</link:label>
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    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff_019c1319-f980-7665-9fff-88738b5e3418_verboseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_094618cf-1aa6-4faf-9ddc-61ffc96e5cc6_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>
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    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount_7d5dd080-b213-4775-b053-3d7b228dea1b_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>
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    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_a1642e4c-9a3b-419f-94d1-b4274e009729_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/2025/elts/us-gaap-2025.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_ExtendedMaturityMember_ec27c91d-2a68-4ae4-a4d3-a25c76e17173_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/2025/elts/us-gaap-2025.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_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions_878389f6-6d6c-43d5-ab7e-013907b7227b_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-20251231.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_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateUnrealizedGainLossOnForeignCurrencyTranslation_d560895d-be23-4791-b944-437f6fa15106_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on foreign currency translation</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateUnrealizedGainLossOnForeignCurrencyTranslation" xlink:href="bxmt-20251231.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateUnrealizedGainLossOnForeignCurrencyTranslation"/>
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    <link:label id="lab_bxmt_TotalJuniorLoanParticipationMember_3c10ded1-d6c2-413d-a4f6-9e44ab002452_terseLabel_en-US" xlink:label="lab_bxmt_TotalJuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Loan</link:label>
    <link:label id="lab_bxmt_TotalJuniorLoanParticipationMember_label_en-US" xlink:label="lab_bxmt_TotalJuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Junior Loan Participation [Member]</link:label>
    <link:label id="lab_bxmt_TotalJuniorLoanParticipationMember_documentation_en-US" xlink:label="lab_bxmt_TotalJuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total Junior Loan Participation</link:label>
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    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage_583419dc-367f-4e1e-bb15-276147dba2f8_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining loan amount in new lenders</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage_label_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage" 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, Remaining Amount Of Mortgage</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage_documentation_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment In Mortgage Loans On Real Estate, Remaining Amount Of Mortgage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage" xlink:href="bxmt-20251231.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage"/>
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    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_8e206ca9-2ccb-48c5-81d3-b2205536477b_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 Taxes Paid, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_54fe08d2-5fb6-48e1-a04a-c8ee5db2d225_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">2027</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">Finite-Lived Intangible Asset, Expected Amortization, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
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    <link:label id="lab_bxmt_A5RealEstateOwnedAssetMember_019bb81e-cac0-757f-b493-be0dd0afd640_terseLabel_en-US" xlink:label="lab_bxmt_A5RealEstateOwnedAssetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5 Real Estate Owned Asset</link:label>
    <link:label id="lab_bxmt_A5RealEstateOwnedAssetMember_label_en-US" xlink:label="lab_bxmt_A5RealEstateOwnedAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">5 Real Estate Owned Asset [Member]</link:label>
    <link:label id="lab_bxmt_A5RealEstateOwnedAssetMember_documentation_en-US" xlink:label="lab_bxmt_A5RealEstateOwnedAssetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">5 Real Estate Owned Asset</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_548ba043-eb2c-4640-9eca-a358c5e4e7d5_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_6bed81b7-4ab6-46b2-af60-be8f1d6abf0e_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total borrowings</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_dae2741d-c434-408c-94a2-48402780e988_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_0f96e514-da19-489a-b57f-0353b40b3d20_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/2025/elts/us-gaap-2025.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_dei_EntityWellKnownSeasonedIssuer_82216544-ed22-4a55-9c7b-21bdb762a96b_terseLabel_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsShareBasedCompensation_d0f70097-1658-4c7a-a37e-3044f38236a9_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/2025/elts/us-gaap-2025.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_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_4ec0787f-43a1-4d84-b4ab-25b891ad1724_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_64cd7be6-0efe-4101-8e15-13c6e11c9b91_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_3fc47786-7be4-49fc-bfb4-2512b95cfd0a_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_e9c5082b-bc97-4040-b6dd-0dafb8fbfafd_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_e0669ff9-29b7-4347-bcda-693d68bb4395_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/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss"/>
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    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_5451be68-3cfd-4b0a-bbc1-0d2ae045288c_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/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
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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>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_57f25eac-f3d5-4150-bafc-bef6f1326080_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive"/>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_c5362c34-2571-4a25-af93-9e0395cf6396_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>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:to="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract"/>
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    <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>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_3a45f324-1d4b-4a97-bae0-56462ba3ba5c_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>
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    <link:label id="lab_bxmt_PaymentInKindInterestNetOfInterestReceived_307f76d5-b1ed-484c-ac15-955859a89909_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>
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    <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>
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    <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_ReceivablesAbstract_a5d6f086-f678-46c3-bcb0-4bc309a668fd_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/2025/elts/us-gaap-2025.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"/>
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    <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/2025/elts/us-gaap-2025.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_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>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract_7a30f65c-54ad-4f08-8dab-93f0f6bd1c5f_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>
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    <link:label id="lab_us-gaap_CollateralAxis_33b619df-a766-4492-8d8a-a597d8c68a4f_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>
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    <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_srt_ConsolidatedEntitiesDomain_64fed89a-4072-4306-8cc2-be768f8208de_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>
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    <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_A2021FL4UnderlyingCollateralAssetsMember_910e55eb-7204-4f48-9319-55d7625b2c97_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>
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    <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-20251231.xsd#bxmt_A2021FL4UnderlyingCollateralAssetsMember"/>
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    <link:label id="lab_bxmt_UnitedStatesWestMember_eceb9da1-f70f-4c02-baff-b8bce9bcc805_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>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesWestMember" xlink:href="bxmt-20251231.xsd#bxmt_UnitedStatesWestMember"/>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BankLoanPortfolioJointVentureMember" xlink:href="bxmt-20251231.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_StatementOfFinancialPositionAbstract_3db9af8b-643c-40d1-a53c-111633f2e4d8_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_ForeignExchangeForwardMember_0361aa75-9f1e-457b-a301-b3db79385ae9_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/2025/elts/us-gaap-2025.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_us-gaap_FinanceLoansAndLeasesReceivablePolicy_dfc631ff-c0e1-40b8-b68b-26ad96234fb9_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/2025/elts/us-gaap-2025.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_MortgageLoansOnRealEstate_0744e8fe-e14b-46d2-9f76-6ef09ecb44b8_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount of loans</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_81bcb081-c071-4e18-b6c5-1f3a7c36c796_periodStartLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at January 1,</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_b47a9ad7-72f8-4d55-8fe8-1679d936a4c0_periodEndLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Net balance at December 31,</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" 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</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MortgageLoansOnRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstate" xlink:to="lab_us-gaap_MortgageLoansOnRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_94b1b320-2e66-48cc-b1b3-44bb6eca38af_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/2025/elts/us-gaap-2025.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_CurrentFiscalYearEndDate_caeb6439-8ee9-42ee-8035-ac7e08a83fae_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/2025/dei-2025.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_country_IE_4429d3a2-f637-42c4-b756-a248cad38c93_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/2025/country-2025.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_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract_8bd67a30-7537-486f-9989-2fe712705480_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/2025/elts/us-gaap-2025.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_FiniteLivedIntangibleAssetsMajorClassNameDomain_8d64b424-f298-42b8-a0a2-407270b0b3f7_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">Finite-Lived Intangible Assets, Major Class Name [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">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_RealEstateAcquiredThroughForeclosureGross_65ab4746-054e-4fae-ab50-d6610c6dbf17_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_8c44cb3b-8bff-4e43-9f52-62d17439c062_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-20251231.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_6a297eed-9a87-4aeb-9847-3ea1d273f919_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-20251231.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_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_75b8956f-de53-44a0-a2c9-102d055fc417_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/2025/elts/us-gaap-2025.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_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_8ee63a30-927b-4a70-9732-e01f8966ade9_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/2025/elts/us-gaap-2025.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_us-gaap_ProfessionalFees_37b0bc48-ae15-4543-9bc9-3c248611b1ec_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/2025/elts/us-gaap-2025.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_DerivativeLiabilities_4ea0b402-204c-44e2-8110-283e6826ecd7_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_d06e683d-c22a-4808-ae67-c78c312f8a12_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/2025/elts/us-gaap-2025.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_bxmt_AssetSpecificCECLReservesMember_a0a79430-79bc-49f2-ad01-6a8c3a3b0bb2_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-20251231.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_OtherNoninterestExpense_f32dc4e5-8936-43ea-97b1-54361bbe9cd7_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense" 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_OtherNoninterestExpense_label_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noninterest Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNoninterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherNoninterestExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoninterestExpense" xlink:to="lab_us-gaap_OtherNoninterestExpense" 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>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember"/>
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    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember_941a1288-a840-4652-a8fd-a4b2b1c7ea5d_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-20251231.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_LoanRestructuringModificationAxis_2a93ce93-21a6-4d28-a9ae-6fa41015ff7b_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/2025/elts/us-gaap-2025.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_InterestRateContractMember_e6815ce6-499c-4337-b0fb-3fa2c491738b_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/2025/elts/us-gaap-2025.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_EquityMethodInvestmentDividendsOrDistributions_8d753259-45b9-4adc-b20e-40c966e017b2_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_9eb4a900-8e1f-4c06-a603-12e50c518a92_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions</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/2025/elts/us-gaap-2025.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_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_00f5bd8c-5f65-4d70-85ef-c0a88a2b2a39_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">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/2025/elts/us-gaap-2025.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_bxmt_EuropeanLoanSecuritizationMember_019be03f-2b5f-7f1d-9920-2b50361eb9cd_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-20251231.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_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_619c0762-dbf9-4605-949c-5b72435139d5_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 Number of Shares 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/2025/elts/us-gaap-2025.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_bxmt_CashCollateralForCollateralizedLoanObligations_c7304d9c-9654-415f-ba22-e1a5c9e97410_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-20251231.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_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_a84ce876-8755-4da0-8702-08186291f118_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_bd201f8a-c035-4161-8f9d-7b313be6aa61_verboseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsForDerivativeInstrumentInvestingActivities"/>
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    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_bd777777-6663-4117-85bc-006827aca410_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/2025/elts/us-gaap-2025.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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_df365338-9ad9-4e01-bfce-4e6031784baa_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">2027</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/2025/elts/us-gaap-2025.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_srt_OtherPropertyMember_4e51f58f-4f4f-40cf-a10a-0748f93faea9_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/2025/elts/srt-2025.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_us-gaap_NetCashProvidedByUsedInFinancingActivities_49b383e5-f994-4f79-a6ef-649af26652a6_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 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/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
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    <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>
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    <link:label id="lab_srt_MortgageLoansOnRealEstatePriorLiens1_4caf8966-9b4c-4ced-9f36-cc8ed46e9dc9_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstatePriorLiens1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior Liens</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstatePriorLiens1_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstatePriorLiens1" 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, Prior Lien, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstatePriorLiens1" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstatePriorLiens1"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_10601af2-2dcf-4508-abe8-94f3c94e1ebd_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, after Year Five</link:label>
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    <link:label id="lab_bxmt_B7TermLoanDue2029Member_7b583735-7d38-471a-8344-c83b2d6bcc1d_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>
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    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward_9831f21d-593b-46f9-9fbc-1107ce66f5bd_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Fees / Other Items</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward_label_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount) [Roll Forward]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward"/>
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    <link:label id="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_42e0ab2d-d501-455a-9920-92d8e8ea57d0_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Significant Accounting Policies</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_6000bebd-a636-4bc0-b1d1-88c1c09dbb52_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 Tangible Asset [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 Tangible Asset [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1_744583b5-4228-4668-b34d-4b2a77aed7e7_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/2025/elts/us-gaap-2025.xsd#us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1"/>
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    <link:label id="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember_aaa07b78-5311-4d53-9ea8-ddfb89f2e810_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>
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    <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>
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    <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>
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    <link:label id="lab_dei_EntityTaxIdentificationNumber_063737e2-3409-4c06-8c7b-519f5a2fa84d_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>
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    <link:label id="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation_480d1dfd-4a87-4107-81b9-d0aab4733105_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>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_7aeaef63-f01d-40d1-bc67-7ff63375178c_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>
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    <link:label id="lab_us-gaap_AssetAcquisitionAxis_afead23d-601c-4b38-971a-c7fc8c819383_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>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_6efe4f00-74fa-4040-b132-8e2159c8d4c6_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>
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    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_73fc519b-1930-4ed2-84a5-17da474e27e6_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">Summary of Assets and Liabilities of Consolidated VIE</link:label>
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    <link:label id="lab_currency_GBP_4ae75ae7-dd38-4fee-a4f2-71ea3a2bee02_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>
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    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation_ef86ca49-138c-4201-89d2-6c8e68fde045_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>
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    <link:label id="lab_us-gaap_CommonStockSharesIssued_f5815581-98a1-4356-a061-89ed89c4c3d3_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>
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    <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_RealEstateOwnedPolicyTextBlock_b71b1af5-65b1-4eac-b02c-efd6ab6efc6a_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-20251231.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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_82ba4b06-5ca8-483b-b482-94bb9d3fc66d_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">2029</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesNortheastMember_17f2e111-6caf-4547-8f2d-5868ca86a6c7_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-20251231.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_bxmt_PropertyPlantAndEquipmentMeasurementInput_3e88a69e-95ec-4fbb-9579-b319204d0bfa_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-20251231.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_dei_EntityPublicFloat_f86bf764-bd34-4c2a-89fb-c1ea8264cafd_terseLabel_en-US" xlink:label="lab_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:label id="lab_dei_EntityPublicFloat_label_en-US" xlink:label="lab_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityPublicFloat" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityPublicFloat"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityPublicFloat" xlink:to="lab_dei_EntityPublicFloat" xlink:type="arc" order="1"/>
    <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>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrAxis" xlink:to="lab_ecd_TradingArrAxis" 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/2025/ecd-2025.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_OperatingLeaseLeaseIncome_019c4999-7ee1-75c5-893d-69fd6c22599b_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/2025/elts/us-gaap-2025.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_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_393d01f9-85d8-4488-92ad-7b64acf6d487_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/2025/elts/srt-2025.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_dei_SecurityExchangeName_0e40e695-b40a-4c05-84e0-684e0acba1b1_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/2025/dei-2025.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_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_c3cb2ab0-d2f4-4d67-a671-6dd5e353e632_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/2025/elts/us-gaap-2025.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_MortgageLoansOnRealEstateCostOfMortgagesSold_1bdcb48b-cf20-4582-9493-245f0edfecaa_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling loan amount</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" 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, Cost of Mortgage Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedHospitalityIncome_019c1333-510a-7ba0-be24-5bfcfe163205_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-20251231.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_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_510d43ab-1662-4551-a52c-02de9a2f9e73_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">2027</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/2025/elts/us-gaap-2025.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_srt_MortgageLoansOnRealEstateLineItems_97ea0b62-58d3-4b46-9939-acb6312a3054_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateLineItems_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLineItems" 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 [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateLineItems" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateLineItems" xlink:to="lab_srt_MortgageLoansOnRealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherSecuredDebtMember_019c1350-d3b1-7c29-a39a-79e70ba32d62_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_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-20251231.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_srt_RetailSiteMember_1f03e6e1-9836-42c3-8855-3e653f2557da_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/2025/elts/srt-2025.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_us-gaap_FinancingReceivablesTextBlock_00311d4f-5109-4a6e-b709-435f1c58f83c_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/2025/elts/us-gaap-2025.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_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_880b66cd-68aa-4f66-ab05-f02ec052b5bf_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/2025/elts/us-gaap-2025.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_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_ded7db07-1e42-41f6-a777-4e7e8fe33940_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/2025/elts/us-gaap-2025.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_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor_97103bb3-3b71-44d5-a310-63f8ea78e6c1_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Payment Rate, subject to floor</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor_label_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor" 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, Interest Rate Subject To Floor</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor_documentation_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment In Mortgage Loans On Real Estate, Interest Rate Subject To Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor" xlink:href="bxmt-20251231.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor" xlink:to="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestRateSubjectToFloor" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_4e26362c-1cf4-4188-bf87-786f9734ba16_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_fe26a987-6ca8-4cec-82f9-cd3dc4fbd12c_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/2025/elts/us-gaap-2025.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_EquityMethodInvestmentsContribution_1c30f47c-cf34-4ebc-af81-6301a46cda29_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-20251231.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_SeniorSecuredNotesMember_2b192818-1cc2-40b3-8177-5b28104e39f6_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-20251231.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_LivCorLLCMember_b325bbb7-a727-49ed-a6c2-daca300bda99_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-20251231.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_StockGrantedDuringPeriodValueSharebasedCompensation_d43477ca-83b9-465f-ba36-264fba864ebc_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/2025/elts/us-gaap-2025.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_StatementLineItems_4f966c8e-c093-490a-9ba2-8e474f09791c_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/2025/elts/us-gaap-2025.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_ExtinguishmentOfDebtAmount_a8ca552f-970b-40ab-bfdb-5da59374f655_verboseLabel_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Repayment of debt</link:label>
    <link:label id="lab_us-gaap_ExtinguishmentOfDebtAmount_cad39aa6-845b-4fad-bdf1-d86f67f7d2a7_terseLabel_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of aggregate principal amount</link:label>
    <link:label id="lab_us-gaap_ExtinguishmentOfDebtAmount_label_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extinguishment of Debt, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExtinguishmentOfDebtAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ExtinguishmentOfDebtAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExtinguishmentOfDebtAmount" xlink:to="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_TermLoanMember_1566cc59-dea8-47dc-b595-d118a4501cb5_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_3e1f5001-766d-429c-a2d9-5043e80b8191_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-20251231.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_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/2025/ecd-2025.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_us-gaap_CashAndCashEquivalentsAtCarryingValue_c26292ac-7826-4ee0-812d-84c7730a6087_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/2025/elts/us-gaap-2025.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_us-gaap_CommonStockMember_4a30baea-256e-4616-ab73-2b9cd973804d_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/2025/elts/us-gaap-2025.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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_ffd80740-b06b-4c72-8057-6d093e6d41ba_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/2025/elts/us-gaap-2025.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_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate_49ac332e-500a-4b90-95d1-63f14dac4111_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-20251231.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_bxmt_ScheduleOfSecuredCreditFacilitiesTable_1e7ddde7-0e8e-47c3-ad93-70cc9c2fbc9e_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-20251231.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_srt_RangeMember_a9cdb123-ac9b-460c-8b00-3d0fa8ec3446_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/2025/elts/srt-2025.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_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_6f26ebba-1394-493e-8e43-9589dc8eb92c_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">Summary 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/2025/elts/us-gaap-2025.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_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_9419a0ac-fb9a-406b-a8d0-37a1a51ff85c_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/2025/elts/srt-2025.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_RealEstateOwnedIncomeLoss_bb90bcd9-e55f-45ce-b584-3862f05fc70e_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-20251231.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_6801bf6d-946a-444e-9b71-9f96602aa9d4_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-20251231.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_InterestRateSwapMember_7a364f92-3af5-4efd-935b-b92e7c839e18_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/2025/elts/us-gaap-2025.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_us-gaap_DebtPolicyTextBlock_7edeebbe-a07a-4524-8458-6480d9eca516_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/2025/elts/us-gaap-2025.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_us-gaap_PaymentsOfFinancingCosts_2c5dfd45-c4e8-40e9-b672-8de9452d8c4d_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/2025/elts/us-gaap-2025.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_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_31e683ed-485e-4f82-b582-f6a186b39e69_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/2025/elts/us-gaap-2025.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_IncomeLossFromEquityMethodInvestments_1489f203-8601-43b1-b0e2-1dc22e001845_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_5e68e9c5-4702-49c3-aea4-d66c3ff643ba_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_64f47907-84a4-4959-91cd-f737d878a984_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">(Loss) 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/2025/elts/us-gaap-2025.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_bxmt_B6TermLoanDue2030Member_f9e4f661-d534-4674-82a7-d74ae537b605_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-20251231.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_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors_8dbeaa99-ac9e-45f5-9344-69e8932313a8_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-20251231.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_LessorOperatingLeasePaymentsToBeReceivedFourYears_d342bfdb-a24e-4850-a9d7-3dcf2ffb73ec_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">2029</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/2025/elts/us-gaap-2025.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_us-gaap_DividendsDeclaredTableTextBlock_ed49f778-672e-4119-ad50-8b4a36dad12f_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/2025/elts/us-gaap-2025.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_bxmt_RiskRatingFourMember_641d7e32-b856-4c79-86c4-829d249a0688_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_5ab918a5-4d28-47e5-baa5-f99ca46dbb12_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-20251231.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_bxmt_ExtendedMaturitySeniorLoansMember_0246e97a-db10-4fcd-9608-16d82587bf3d_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Senior Loans</link:label>
    <link:label id="lab_bxmt_ExtendedMaturitySeniorLoansMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Senior Loans [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturitySeniorLoansMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Senior Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturitySeniorLoansMember" xlink:href="bxmt-20251231.xsd#bxmt_ExtendedMaturitySeniorLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturitySeniorLoansMember" xlink:to="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_country_SE_90a98083-574c-4909-b867-efd3ff67d19f_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/2025/country-2025.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_us-gaap_ShareBasedCompensationAbstract_24ab6fbf-74e4-4fac-9068-5afc22927772_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/2025/elts/us-gaap-2025.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_ecd_TradingArrByIndTable_terseLabel_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual</link:label>
    <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>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrByIndTable" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrByIndTable"/>
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    <link:label id="lab_us-gaap_EarningsPerShareBasic_62d6a697-4c6a-4744-80cf-6ff953e2397d_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_2966dbde-3d3b-44ae-ab00-d1e2bbe6673a_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>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EarningsPerShareBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax_e696c267-10a1-4576-94ff-27653f9df217_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/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax"/>
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    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_0127b906-0d23-4426-9a12-12eab75ab54d_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/2025/elts/us-gaap-2025.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_srt_MortgageLoansOnRealEstateLoanCategoryDomain_edd52261-7ba9-4fc1-8be1-2a1a77a13889_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateLoanCategoryDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLoanCategoryDomain" 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, Loan Category [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateLoanCategoryDomain"/>
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    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_8fc48c90-d953-4fb8-a883-4264ae806ff6_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/2025/elts/us-gaap-2025.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_OtherComprehensiveIncomeLossNetOfTax_b865b577-cc17-411d-a9ab-b304c34fa36f_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_2540b527-a621-4321-b891-f6904b83fc8d_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/2025/elts/us-gaap-2025.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_bxmt_SeniorLoanParticipationMember_92124af6-7984-4fab-af8d-1c1e21356359_terseLabel_en-US" xlink:label="lab_bxmt_SeniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Participations</link:label>
    <link:label id="lab_bxmt_SeniorLoanParticipationMember_label_en-US" xlink:label="lab_bxmt_SeniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Loan Participation [Member]</link:label>
    <link:label id="lab_bxmt_SeniorLoanParticipationMember_documentation_en-US" xlink:label="lab_bxmt_SeniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Loan Participation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorLoanParticipationMember" xlink:href="bxmt-20251231.xsd#bxmt_SeniorLoanParticipationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorLoanParticipationMember" xlink:to="lab_bxmt_SeniorLoanParticipationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_90a01821-b4b9-4ee2-8b83-deca9db9a0cf_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/2025/elts/us-gaap-2025.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_srt_AffiliatedEntityMember_e4b3a414-18ee-4f1e-a623-5f2eb42ed349_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/2025/elts/srt-2025.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_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans_cb5b8474-1060-43a5-b813-a8eb1f1640d2_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-20251231.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_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation_746da970-cbd0-4f29-845b-660e26c6def6_totalLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation_label_en-US" xlink:label="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Gain (Loss) on Foreign Currency Translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Gain (Loss) on Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:to="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_7d6cb51d-f464-4f9e-94c1-70ea2873898c_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_48477a0f-755f-4597-897c-41a50e3825bd_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_5c5651df-98d5-410a-ba58-64daa8553c0c_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(3)</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/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilityAmount_b015e2bc-8478-4220-8eea-0085856bc696_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold, net</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilityAmount_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liability, Amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilityAmount_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liability, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldLiabilityAmount"/>
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    <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>
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    <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_OtherGeneralAndAdministrativeExpense_1fdd8b46-4ff8-468d-879f-10ac1ff13bcb_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/2025/elts/us-gaap-2025.xsd#us-gaap_OtherGeneralAndAdministrativeExpense"/>
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    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_36ec725b-8528-4ed2-9409-bfe9fee36b38_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VIE</link:label>
    <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>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_47f28604-c959-425b-9869-bad85794ffdd_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>
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    <link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_b022e116-5d5a-4c85-9de4-193a3015cb32_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>
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    <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>
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    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_34db86c7-4a69-4738-b8a2-536de8913ee2_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>
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    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossLineItems_e0972c49-101d-4a11-8d9e-e3c02b9bd4c2_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>
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    <link:label id="lab_us-gaap_HedgingDesignationDomain_d3f7b792-9359-4adf-9904-24476b905427_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>
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    <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_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember_a44f522f-31a7-4cd2-83ce-115a90560323_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>
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    <link:label id="lab_bxmt_RealEstateOwnedIncome_a5b3a847-7676-4b9d-aba9-c8333f69f57c_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>
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    <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>
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    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_2aa726b1-26b4-41fa-9216-056025437dcc_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/2025/elts/us-gaap-2025.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"/>
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    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_d0a07510-fd2d-4a20-80a9-8b942eb9d85c_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>
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    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount_fae50b1c-ed0a-42b8-95ae-9bbd258eaa8a_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Book Value, loan participation</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldLiabilitiesAmount"/>
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    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross_2caf3c55-304e-4d6c-9e25-a8f36e5eb189_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>
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    <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>
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    <link:label id="lab_bxmt_RealEstateOwnedConsiderationTransferred_3960e174-d69a-4fdd-9ee2-f749de90d23b_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total acquisition price</link:label>
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    <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>
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    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_7b718898-ca70-42c5-a829-83cad2f3d675_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/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
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    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_f2b973c7-5449-48dd-a143-0315daa4151e_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/2025/elts/us-gaap-2025.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_us-gaap_ConcentrationRiskTypeDomain_9e6e1733-2e73-4b71-91ee-3324aeafc647_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/2025/elts/us-gaap-2025.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_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate_b9d8d135-ac21-4335-bdfb-0265820ed7b8_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>
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    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems_91551bf7-48dd-4580-8c2c-0c1d6bb1feea_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>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_b95edb9e-02b8-4501-9ebd-e3b2856e25b1_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>
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    <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>
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    <link:label id="lab_us-gaap_CollateralizedDebtObligationsMember_d706ca0b-eec0-403e-a5a6-713205085218_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/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralizedDebtObligationsMember"/>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_99b14216-a5cd-48b7-8cfd-09c9b42220a9_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/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived"/>
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    <link:label id="lab_us-gaap_LiabilitiesAbstract_389b0f24-6dfb-4e8e-b62b-fd6e684f0714_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/2025/elts/us-gaap-2025.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_srt_MortgageLoansOnRealEstateAbstract_f42b35a1-a315-4451-8170-b1a79c5d2b39_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateAbstract_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateAbstract" 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 [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateAbstract" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateAbstract"/>
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    <link:label id="lab_us-gaap_DepreciationAndAmortization_c5b4edd7-8548-4897-a4b8-96104859692a_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>
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    <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_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateWriteoff_ce244e75-45ca-423e-80cb-0153ab403490_negatedLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_d6682f12-6f25-4421-9a8e-242230243a0a_negatedTerseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" 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_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" 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, Collections of Principal</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateCollectionsOfPrincipal"/>
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    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1_0e1a0334-255c-497f-8ee2-ada007fd7996_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>
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    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_3a6b531d-bff6-4a8b-8095-37817e57b813_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/2025/elts/us-gaap-2025.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_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_9a95e241-17e8-4683-ba5b-3522ce65ae5f_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/2025/elts/us-gaap-2025.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_StatementOfCashFlowsAbstract_33e709c5-2cd1-4a69-92cd-c0a0ff5e9414_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_2376e165-e5bf-485b-8ca6-67b5599b74f4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Prior</link:label>
    <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/2025/elts/us-gaap-2025.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_bxmt_RealEstateOwnedExpenses_ba3cf0c7-76cb-4dd5-9ff2-cf3bb7aec5ce_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_db43e85a-6f59-4659-86e0-fe985a0eb253_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-20251231.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_ComprehensiveIncomeNetOfTax_f03d7e98-1029-4b51-95dc-dec8ea04b36d_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 income (loss) 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/2025/elts/us-gaap-2025.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_us-gaap_MeasurementInputTypeAxis_711de015-1ba5-42b3-873c-5ccf7189ca50_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <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/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeAxis" xlink:to="lab_us-gaap_MeasurementInputTypeAxis" 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/2025/ecd-2025.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_RealEstateOwnedNumberOfAssets_8381a9dc-2bb4-4887-a394-64a12cfecdb9_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-20251231.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_SecuredDebtMember_fcdf19b0-87bd-4463-9996-d1c0a5f780b1_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/2025/elts/us-gaap-2025.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_us-gaap_ClassOfStockLineItems_c51a1417-2abc-47ad-87c2-294d3d54abd7_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/2025/elts/us-gaap-2025.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_bxmt_ParticipationsSoldLoanYield_22508f20-bafb-4958-bc30-0973a62b4862_terseLabel_en-US" xlink:label="lab_bxmt_ParticipationsSoldLoanYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost</link:label>
    <link:label id="lab_bxmt_ParticipationsSoldLoanYield_label_en-US" xlink:label="lab_bxmt_ParticipationsSoldLoanYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Participations Sold Loan Yield</link:label>
    <link:label id="lab_bxmt_ParticipationsSoldLoanYield_documentation_en-US" xlink:label="lab_bxmt_ParticipationsSoldLoanYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Participations Sold Loan Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ParticipationsSoldLoanYield" xlink:href="bxmt-20251231.xsd#bxmt_ParticipationsSoldLoanYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ParticipationsSoldLoanYield" xlink:to="lab_bxmt_ParticipationsSoldLoanYield" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure_6d50735f-6669-46ee-8997-85d911ba5726_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-20251231.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_OtherLiabilitiesTableTextBlock_06e021f5-5c5c-4b72-a657-e116a7c05bc8_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">Summary 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/2025/elts/us-gaap-2025.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_bxmt_AtlantaGAMember_a66290b9-6d45-443b-b4aa-bc30c3af1336_terseLabel_en-US" xlink:label="lab_bxmt_AtlantaGAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Atlanta, GA</link:label>
    <link:label id="lab_bxmt_AtlantaGAMember_label_en-US" xlink:label="lab_bxmt_AtlantaGAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Atlanta, GA [Member]</link:label>
    <link:label id="lab_bxmt_AtlantaGAMember_documentation_en-US" xlink:label="lab_bxmt_AtlantaGAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Atlanta, GA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AtlantaGAMember" xlink:href="bxmt-20251231.xsd#bxmt_AtlantaGAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AtlantaGAMember" xlink:to="lab_bxmt_AtlantaGAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebt_cb779179-963b-47ce-8c01-3f306ee242b8_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_890c80cc-c58b-44ba-8369-2b0a06e72153_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_98532c07-ac17-4577-a7e7-c24f4acef997_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_a2c5960f-86b7-47ab-bd82-52a66134edae_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/2025/elts/us-gaap-2025.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_dei_LegalEntityAxis_4b5f7085-8b90-4f0c-b150-4f42744f468a_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/2025/dei-2025.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_Assets_fece3faa-955c-4f53-8972-03abc29af410_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_364e4da9-5738-4bb6-a053-9939f248eaf1_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/2025/elts/us-gaap-2025.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_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_5d7a9566-8c74-4677-922f-020190c1c607_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">2026</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">Finite-Lived Intangible Asset, Expected Amortization, Year One</link:label>
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    <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_bxmt_DebtInstrumentCovenantIndebtednessMaximum_6564eaae-0700-4064-979c-1ea830d709b3_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-20251231.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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_b9f79336-bd6a-460f-8df8-4913c1f2e69f_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>
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    <link:label id="lab_us-gaap_RealEstateTable_3ca6f0f9-0923-4236-84e0-680a06a6480c_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/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateTable"/>
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    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_8dd77dc9-f073-4414-9ed4-ae3185f0495a_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/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems"/>
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    <link:label id="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock_a6e89ecb-2c87-45ce-9950-7778050fc071_terseLabel_en-US" xlink:label="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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-20251231.xsd#bxmt_TypesOfLoansInPortfolioTableTextBlock"/>
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    <link:label id="lab_bxmt_AuditCommitteeMember_2f36dffb-d803-4183-ad02-d200d02d5f26_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>
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    <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-20251231.xsd#bxmt_AuditCommitteeMember"/>
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    <link:label id="lab_srt_SegmentGeographicalDomain_b05ca745-8a4d-42f4-a3c8-cc685cd707a7_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/2025/elts/srt-2025.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_us-gaap_IncomeTaxPolicyTextBlock_fb3c52d7-eea0-447f-bfda-b13fe3590d8d_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/2025/elts/us-gaap-2025.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_NetCashProvidedByUsedInOperatingActivitiesAbstract_a5e2c49b-f399-4871-869f-61e54130803c_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/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
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    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_63846775-d080-44d8-bc71-a9ce0b3d6809_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/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis"/>
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    <link:label id="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer_f430500d-2ad7-48a0-81c0-8908dc3711e1_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-20251231.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_ConcentrationRiskByTypeAxis_8d58546b-7425-47e7-98ea-3792fe43df55_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/2025/elts/us-gaap-2025.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_AmortizationOfDeferredLoanOriginationFeesNet_9d43aabd-08e1-44ab-98f2-1b19282072b2_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_cc73effd-cb6b-47c8-a2db-cd77fae50686_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of fees and other items</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_f4aebc67-6e76-43bb-aeba-f8b329ebe0eb_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>
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    <link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_4a09464a-afcd-426a-b6ef-c2d0b753dfbe_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetsFairValueDisclosureAbstract"/>
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    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_8dbfe0c6-56e7-4af4-b249-0bb93ee98dc7_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>
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    <link:label id="lab_bxmt_DebtInstrumentVariableRateFloor_b4398d60-b632-4694-a617-9b1312098063_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>
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    <link:label id="lab_country_US_29e5bcc9-27fe-4360-8c57-497611f2dd98_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/2025/country-2025.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_bxmt_IndustrialMember_426b83c0-0316-4bc8-a98a-68d84156b96f_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-20251231.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_ea1c0da1-a783-4304-a78d-1abefa59313d_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-20251231.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_LandImprovementsMember_019c35a9-6143-7823-9b14-d99910fe8198_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/2025/elts/us-gaap-2025.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_bxmt_BlackstoneSecuritiesPartnersL.PMember_6fea9a3c-26f0-4877-a4f3-e76b0037fae1_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-20251231.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_RetainedEarningsMember_c59a02d9-578c-476a-a30d-ce17fcda71dc_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/2025/elts/us-gaap-2025.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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_1120824a-bf63-4b7d-b30d-3ffed8e70e9a_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/2025/elts/us-gaap-2025.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_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_ee921b12-2582-4f51-a9e5-b4897a2fac7a_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_af2967a5-ca87-499b-98de-11ba07f1fe49_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/2025/elts/us-gaap-2025.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_IncomeStatementAbstract_d9ab45fc-f94c-4e25-89c4-2aa4adfccef5_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/2025/elts/us-gaap-2025.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_us-gaap_DerivativeAssets_6ecd26db-0ffa-4295-9bc9-7c7449b77585_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_34531e3e-0031-42a7-b068-b77bf5a67f6c_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/2025/elts/us-gaap-2025.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_SaleOfStockNameOfTransactionDomain_1bffd013-fc11-4965-9008-bac5c799bfe7_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/2025/elts/us-gaap-2025.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_us-gaap_InterestExpenseMember_c0514fc7-1db4-4c53-9a72-42dd9712ba0c_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseMember_label_en-US" xlink:label="lab_us-gaap_InterestExpenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseMember" xlink:to="lab_us-gaap_InterestExpenseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SelfStorageMember_2806b9de-50ee-4704-b731-9c43be2d1c8e_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-20251231.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_FairValueMeasurementsNonrecurringMember_01aad4b1-eb3e-44ef-b1fe-e3938204cad4_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/2025/elts/us-gaap-2025.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_us-gaap_NoninterestIncomeOther_0aa7d45b-c0d5-4a69-b2c2-00a500bc7ea4_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income</link:label>
    <link:label id="lab_us-gaap_NoninterestIncomeOther_label_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Income, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestIncomeOther" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestIncomeOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncomeOther" xlink:to="lab_us-gaap_NoninterestIncomeOther" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_521c82c1-6bdf-40c4-9d25-70950deaf164_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/2025/elts/us-gaap-2025.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_AboveMarketLeasesMember_cf85e3d4-798d-429c-b71d-277f90352b94_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/2025/elts/us-gaap-2025.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_us-gaap_InterestExpenseDebtExcludingAmortization_2ceed84a-120f-4846-bc7d-4847130b0876_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/2025/elts/us-gaap-2025.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_bxmt_ImpairedLoans8LoansMember_019bdde8-7ce4-76e4-9604-ab5ef323d52a_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-20251231.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_ParentMember_3c68bec9-ad8f-4256-aa6a-a8b39683a12f_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/2025/elts/us-gaap-2025.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_ProfitLoss_4d3e3437-6630-461b-883c-b5c57d59e15c_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 income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_8f237845-236a-493d-a162-49f66c6b8adb_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 income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_6b28869b-632c-4172-a5b1-7bf60809abee_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/2025/elts/us-gaap-2025.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_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_cf474ef8-d995-459f-bc64-5c244e5b1462_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">2028</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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_DerivativeNotionalAmount_5b14a550-cb11-4cc4-8ade-329005e68e49_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">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/2025/elts/us-gaap-2025.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_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_21334572-174d-47f6-9297-0d21ed67fdf7_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/2025/elts/us-gaap-2025.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_bxmt_ActivityInLoansReceivableTableTextBlock_1e1ee4bf-9d83-46c0-9b10-fde3306bfb4c_terseLabel_en-US" xlink:label="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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-20251231.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_us-gaap_OtherRealEstate_24cb3fb7-9459-48bc-a6a0-bd62dd7b6bdd_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/2025/elts/us-gaap-2025.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_dei_CityAreaCode_c9a81273-cebe-40e6-b18b-82f5267eab2f_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/2025/dei-2025.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_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_ea42beb0-4c56-4853-8ce6-f868b01c2c75_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_LoanParticipationsSoldTotalLoan_764fdbf7-9c85-4faf-8741-4d947afa8ca1_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance, total loan</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoan_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoan_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldTotalLoan" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldTotalLoan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldTotalLoan" xlink:to="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_bc8e502a-c2e0-4b86-8cfe-572ee1af4305_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfer to other assets, net</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_e7855387-3141-4261-af03-d5ac92ece81f_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-20251231.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_us-gaap_MortgagesMember_019bddf6-4e3b-75b7-bd6c-c2b2df119528_terseLabel_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgages</link:label>
    <link:label id="lab_us-gaap_MortgagesMember_label_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgages [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgagesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MortgagesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgagesMember" xlink:to="lab_us-gaap_MortgagesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_USD_bf640648-11ae-4c34-af57-a406e0fbcd58_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_51dc2c15-513a-492c-91dc-0845da23c965_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/2025/currency-2025.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_us-gaap_LoansHeldForSaleMeasurementInput_ce8ffee3-53e9-46db-bc97-cdd0e3d2836a_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/2025/elts/us-gaap-2025.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_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember_525d4de0-befc-445a-9098-74df0915af48_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-20251231.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_bxmt_AssetSpecificDebtMember_0c0975bf-2b1b-46b3-89ef-7c31528a61cd_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-20251231.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_NetCashProvidedByUsedInInvestingActivitiesAbstract_bd96504f-0dec-45be-a990-139ceeba703a_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/2025/elts/us-gaap-2025.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_us-gaap_GeneralAndAdministrativeExpense_7c57db68-517c-450b-a73e-69054769d80e_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_414e5101-277f-4b68-8eda-dc8d3587bc22_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_InterestReceivable_c77bcd69-bb3b-42fc-b494-c2f5977d7864_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/2025/elts/us-gaap-2025.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_us-gaap_FairValueHedgingMember_3d2f9acf-43f8-48ce-8c73-204ac1f4e9a8_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/2025/elts/us-gaap-2025.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_us-gaap_IncentiveFeeExpense_6362ee56-fbfe-4a77-b6dc-64a9afc82021_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/2025/elts/us-gaap-2025.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_us-gaap_RelatedPartyTransactionsAbstract_918e5624-eb8a-4370-bf4c-e794aaa0877c_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/2025/elts/us-gaap-2025.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_ProceedsFromLoanOriginationAndOtherLoanReceivableFees_336758e8-2444-42c2-b3ba-2c9a7f95b2e0_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-20251231.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_bxmt_A1.51To1.75Member_0dba5563-1f8d-47c5-998c-90c59c4cac0a_terseLabel_en-US" xlink:label="lab_bxmt_A1.51To1.75Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 1.51% to + 1.75%</link:label>
    <link:label id="lab_bxmt_A1.51To1.75Member_label_en-US" xlink:label="lab_bxmt_A1.51To1.75Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">1.51% To 1.75% [Member]</link:label>
    <link:label id="lab_bxmt_A1.51To1.75Member_documentation_en-US" xlink:label="lab_bxmt_A1.51To1.75Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">1.51% To 1.75%</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A1.51To1.75Member" xlink:href="bxmt-20251231.xsd#bxmt_A1.51To1.75Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A1.51To1.75Member" xlink:to="lab_bxmt_A1.51To1.75Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashFlowHedgingMember_6f77ae1e-787b-4f16-8d7f-e89884662474_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/2025/elts/us-gaap-2025.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_OtherLiabilities_ed1396de-dbbe-44cb-9f6f-d49482c669d3_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_084d8a07-9b66-494c-84b0-37a54bb92f1e_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_65bae474-5ba3-4a86-a879-f5e47c88813b_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/2025/elts/us-gaap-2025.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_bxmt_SeniorSecuredNotesDue2027Member_019be044-c836-7116-a94d-888a1c7b1bd4_verboseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Senior secured notes due 2027</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2027Member_d67cb4ed-e0bf-47f8-8ee9-cd97c7c33832_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-20251231.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_cc6eac4b-65d3-4b75-a932-2989b2d65d0e_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-20251231.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_us-gaap_NonUsMember_1e250a0e-78a2-4684-8440-11f03de848b0_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/2025/elts/us-gaap-2025.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_UnitedStatesNorthwestMember_8817292b-3ccc-40ff-9488-94fc8c757889_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-20251231.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_LoansReceivableBasisSpreadOnVariableRate_14ae7bdd-8d16-4df6-a215-ef900708e005_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/2025/elts/us-gaap-2025.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_dei_AuditorName_bd18a8be-deae-4fe7-b3de-a83ed5b514c0_terseLabel_en-US" xlink:label="lab_dei_AuditorName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Auditor Name</link:label>
    <link:label id="lab_dei_AuditorName_label_en-US" xlink:label="lab_dei_AuditorName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Auditor Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AuditorName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AuditorName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorName" xlink:to="lab_dei_AuditorName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldLineItems_da077952-168a-433d-bf68-6db719772220_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Line Items]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLineItems_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Line Items]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLineItems_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLineItems" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldLineItems"/>
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    <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-20251231.xsd#bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock"/>
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    <link:label id="lab_bxmt_CorporateGovernanceCommitteeMember_923f42de-2bd1-45a9-83b8-518fd47b3ad7_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-20251231.xsd#bxmt_CorporateGovernanceCommitteeMember"/>
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    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock_52f63751-65eb-4266-ab0a-7860b40d730c_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Owned Assets</link:label>
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    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_73462897-cf1d-4632-bf00-07091e79e401_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>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_3b63025a-a219-41f5-8dc6-66203aa02b99_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 gain (loss) on foreign currency translation</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_492cbd69-9473-4bb9-9539-e059b21787ff_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">2026</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyDomain_417ddfc9-a3d9-4af6-82b5-e2b1cf90c9d5_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>
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    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward_fe35840b-3777-4d5d-bfbe-dbe3af3c4de1_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>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward"/>
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    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_6c1474c1-d4da-4f38-8cc0-3e7407011f71_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 increase (decrease) in cash and cash equivalents</link:label>
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    <link:label id="lab_us-gaap_RestrictedCash_38456e19-b0b0-4e7d-925d-94afd487e89f_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>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" xlink:to="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_23d0e626-b7d9-4309-9e8b-135da28d5c0c_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/2025/elts/us-gaap-2025.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_bxmt_RealEstateOwnedOperatingExpenses_6d605d9f-6db6-4d7b-9e68-aec3f6d14598_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-20251231.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_dei_EntityDomain_6d011217-85df-4c9a-b024-21da00a8922b_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/2025/dei-2025.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_us-gaap_NetCashProvidedByUsedInInvestingActivities_29ecebed-675e-411e-a35e-0550a73d02c9_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 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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_us-gaap_InterestPaidNet_d6e93c5b-298a-44aa-b67a-756529e15e19_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/2025/elts/us-gaap-2025.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_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum_4ed935c2-8067-411b-9510-5e591912c2fa_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-20251231.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_dei_DocumentFiscalYearFocus_e28f1546-73ba-46fa-8200-900b3d8b231a_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/2025/dei-2025.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_BasisOfAccountingPolicyPolicyTextBlock_5b30e8ce-b96e-41cc-a7bb-4f646bf7fd8f_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/2025/elts/us-gaap-2025.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_bxmt_LoanExposureRiskMember_b5adfdd2-fe3d-49a6-96ab-5f5defb8f59f_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-20251231.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_bxmt_SaleOfStockNumberOfEquityDistributionAgreements_a73909bc-a5cc-42b5-baa2-3eaa24a169b5_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-20251231.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_c16cd3de-2121-4483-b29a-9e5130e19e79_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-20251231.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_1edf187a-7025-47e1-a712-d71561a6d621_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-20251231.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_bxmt_NumberOfLoansModified_ccaa5625-bbd2-45c3-b279-b26fa88de1f3_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-20251231.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_InvestmentCompanyCommittedCapital_019c1616-a850-78ba-ab70-745eaeea5968_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/2025/elts/us-gaap-2025.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_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_051c3b4a-8cdb-4cbf-ae30-58348deded48_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/2025/elts/us-gaap-2025.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_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/2025/elts/us-gaap-2025.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_ExtendedMaturityLoanFourMember_0d830051-43ca-4fcc-be91-38eec056bf7f_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Four</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFourMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Four [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFourMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanFourMember" xlink:href="bxmt-20251231.xsd#bxmt_ExtendedMaturityLoanFourMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanFourMember" xlink:to="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityAbstract_e6ea5542-069b-4430-8c2e-721744552e26_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/2025/elts/us-gaap-2025.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_us-gaap_SeniorNotes_fd6e8a98-75d2-42c0-8951-493b41cf0199_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/2025/elts/us-gaap-2025.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_us-gaap_BuildingMember_fa7286b1-4034-42c7-a584-a1409bade0b3_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/2025/elts/us-gaap-2025.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_bxmt_UnconsolidatedEntitiesMember_85790e69-b701-4712-a6c5-41a8cb5ba2ac_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-20251231.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_us-gaap_DerivativesPolicyTextBlock_f484602c-eb4f-409d-854c-2e904f9d8baf_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/2025/elts/us-gaap-2025.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_SegmentReportingDisclosureTextBlock_d936918e-f1a5-4cdc-b974-1040785ab8ad_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 Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_bxmt_A1.76To2.00Member_a74ed731-42cc-419a-8aaf-8954ac55ba32_terseLabel_en-US" xlink:label="lab_bxmt_A1.76To2.00Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 1.76% to + 2.00%</link:label>
    <link:label id="lab_bxmt_A1.76To2.00Member_label_en-US" xlink:label="lab_bxmt_A1.76To2.00Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">1.76% To 2.00% [Member]</link:label>
    <link:label id="lab_bxmt_A1.76To2.00Member_documentation_en-US" xlink:label="lab_bxmt_A1.76To2.00Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">1.76% To 2.00%</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A1.76To2.00Member" xlink:href="bxmt-20251231.xsd#bxmt_A1.76To2.00Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A1.76To2.00Member" xlink:to="lab_bxmt_A1.76To2.00Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_f37febae-f8b6-4df9-9951-be748e86a35d_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/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NondesignatedMember_1a8ed901-e7f2-4fa1-bdd1-f99f38cd0164_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_6e060f17-0b1e-4cd2-a43b-50506e9732ec_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/2025/elts/us-gaap-2025.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_SeniorLoansMember_705a7440-eb73-48ca-b085-3688b53e215e_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/2025/elts/us-gaap-2025.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_IncreaseDecreaseInStockholdersEquityRollForward_21c4a484-ca8d-4c1b-bf60-7f7572ebe96a_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/2025/elts/us-gaap-2025.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_FiniteLivedIntangibleAssetsLineItems_11441293-b60d-4bd2-aa6c-1be1802c36aa_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">Finite-Lived Intangible Assets [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">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_UnitedStatesMidwestMember_ada79616-38ec-4605-9d03-7ef0692d055f_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-20251231.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_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_b610bb50-9f45-4f19-8ca7-78d1dd564e10_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/2025/elts/us-gaap-2025.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_UniqueLoansMember_bb246041-0d0e-4df4-971a-50750a0a078e_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-20251231.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_srt_WeightedAverageMember_8b0335e6-428a-4024-94f0-2d133567b23a_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/2025/elts/srt-2025.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_us-gaap_LoansReceivableMember_bef5be19-47b8-465d-afd3-72ec08e99b44_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/2025/elts/us-gaap-2025.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_StockRepurchasedDuringPeriodValue_7709d6f9-58dc-4da9-b10c-ae3cf193101a_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_427dbca4-e586-4419-9404-b2b97e15aaa7_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/2025/elts/us-gaap-2025.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_bxmt_LongTermDebtNumberOfLoans_96b2e7ef-37a2-4d1a-8924-30d4c1aa3726_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-20251231.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_srt_OtherCurrencyMember_4fb08a44-f8e3-4b03-be5d-61dadaf8869e_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_c0f1bca7-9565-49aa-9c75-fc219c8b59b4_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/2025/elts/srt-2025.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_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract_2f235406-941b-4aff-96d6-a9073a716f2f_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deductions during period:</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract_label_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract" 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, Deductions [Abstract]</link:label>
    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract_documentation_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Deductions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract" xlink:href="bxmt-20251231.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract" xlink:to="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeductionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_a0d5e937-d290-4952-81f4-a40e3b5df31c_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/2025/elts/us-gaap-2025.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_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract_7a985b7f-2394-497d-8ecb-16f84e513ee6_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/2025/elts/us-gaap-2025.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_bxmt_MezzanineLoanMember_7e37971d-8d4d-422e-b123-d901b48a04d8_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-20251231.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_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities_13c431c2-1039-45b6-beec-e48b79f05c29_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/2025/elts/us-gaap-2025.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_bxmt_NumberOfLoansCount_96a2a714-404d-463a-b135-58164a10c148_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansCount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans count</link:label>
    <link:label id="lab_bxmt_NumberOfLoansCount_label_en-US" xlink:label="lab_bxmt_NumberOfLoansCount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans Count</link:label>
    <link:label id="lab_bxmt_NumberOfLoansCount_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansCount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of loans count.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansCount" xlink:href="bxmt-20251231.xsd#bxmt_NumberOfLoansCount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansCount" xlink:to="lab_bxmt_NumberOfLoansCount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsFeePercentage_a41869f5-d8d0-465e-9d4c-58fe1824cf5e_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-20251231.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_580f3a18-6464-4b6e-bbeb-8c653a544915_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-20251231.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_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/2025/ecd-2025.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_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_7bd21cbc-46de-4bac-a1bd-1e881eb4cbb1_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan fundings</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" 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, New Mortgage Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MortgageLoansOnRealEstateNewMortgageLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings_39dcef3e-35a1-429f-a35b-56f37e63ee16_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-20251231.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_dei_LocalPhoneNumber_ce113708-b443-43c7-9170-3f82714d7cfa_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/2025/dei-2025.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_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/2025/ecd-2025.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_SharePrice_db297e8d-57ce-4e45-9b42-749298502589_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/2025/elts/us-gaap-2025.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_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_3b3f475a-e7c5-44d0-b83d-62367c600812_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_bddf523f-85a2-4f09-a62e-828336d68164_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/2025/elts/us-gaap-2025.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_us-gaap_OffBalanceSheetCreditLossLiability_338256fa-47d5-4623-ab0b-86c31efbac19_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_92e73939-bf9c-46e1-8eec-1e21265c6e5d_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/2025/elts/us-gaap-2025.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_AssetsAbstract_dd10454f-01f4-47f0-a0bf-177dfc99bdc8_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_734e0e3d-5126-4da0-bd71-1340f5aca326_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_91c4d482-f8da-4489-82c2-27a0e206dc53_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/2025/elts/us-gaap-2025.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_AnnualDirectorCompensationStock_79c817c0-bb40-40e1-9b30-16e2041d8df2_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-20251231.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_us-gaap_CreditFacilityAxis_d6951895-cccb-416e-be4a-52f290e1f78d_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/2025/elts/us-gaap-2025.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_bxmt_UnitedStatesSunbeltMember_1739f839-080b-4ef6-b9a2-99f0e64163cb_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-20251231.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_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/2025/ecd-2025.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_DebtInstrumentAxis_b2ccf8dc-0a81-44b9-98ad-0581f0d2538b_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/2025/elts/us-gaap-2025.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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_07fca1d9-c734-4c1a-9594-d059ffbc5a95_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/2025/elts/us-gaap-2025.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_RevenueRecognitionInterest_269d14a9-d76d-47f2-a3a7-4111f3441e10_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/2025/elts/us-gaap-2025.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_us-gaap_FairValueDisclosuresTextBlock_6345ea48-8596-49cf-addc-e14b415d7978_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/2025/elts/us-gaap-2025.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_bxmt_BankLoanPortfolioJointVenture2Member_0de296e4-3e24-4022-8ded-051d8efdfc0d_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-20251231.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_us-gaap_GainsLossesOnExtinguishmentOfDebt_8a201296-f923-4ab3-a0ef-7efb970b0201_terseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on extinguishment of debt</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_86e8e2b0-0af0-4890-bc4a-fc4a5f763ff6_negatedLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on extinguishment of debt</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Extinguishment of Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityDomain_49aac3b7-c871-48da-a5cd-5e8fe3456c74_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/2025/elts/us-gaap-2025.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_bxmt_NonrecoverableNoteReceivableMember_019c15f9-ecd8-730d-93ea-e29fd6677c99_terseLabel_en-US" xlink:label="lab_bxmt_NonrecoverableNoteReceivableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nonrecoverable Note Receivable</link:label>
    <link:label id="lab_bxmt_NonrecoverableNoteReceivableMember_label_en-US" xlink:label="lab_bxmt_NonrecoverableNoteReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonrecoverable Note Receivable [Member]</link:label>
    <link:label id="lab_bxmt_NonrecoverableNoteReceivableMember_documentation_en-US" xlink:label="lab_bxmt_NonrecoverableNoteReceivableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Nonrecoverable Note Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NonrecoverableNoteReceivableMember" xlink:href="bxmt-20251231.xsd#bxmt_NonrecoverableNoteReceivableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NonrecoverableNoteReceivableMember" xlink:to="lab_bxmt_NonrecoverableNoteReceivableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_a83705fb-fb9b-4657-8f43-0cc4addf3030_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/2025/elts/us-gaap-2025.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_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_adf1a514-5d40-44e2-a9bd-5e28802d2a62_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/2025/elts/srt-2025.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_dei_EntityVoluntaryFilers_f3791dca-707e-4f13-b246-028044af5927_terseLabel_en-US" xlink:label="lab_dei_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:label id="lab_dei_EntityVoluntaryFilers_label_en-US" xlink:label="lab_dei_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityVoluntaryFilers" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityVoluntaryFilers"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityVoluntaryFilers" xlink:to="lab_dei_EntityVoluntaryFilers" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentNumberOfPortfoliosAcquired_4db33289-a3de-4a30-83cf-ce66ed127bff_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-20251231.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_bxmt_RelatedPartyTransactionRenewalTerm_74ea0f48-ce06-4645-b40c-0cca4a09f092_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-20251231.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_bxmt_B5TermLoanDue2028Member_1590b19a-2b2d-4670-87a1-8283f2c8531a_terseLabel_en-US" xlink:label="lab_bxmt_B5TermLoanDue2028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-5 Term Loan</link:label>
    <link:label id="lab_bxmt_B5TermLoanDue2028Member_label_en-US" xlink:label="lab_bxmt_B5TermLoanDue2028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-5 Term Loan Due 2028 [Member]</link:label>
    <link:label id="lab_bxmt_B5TermLoanDue2028Member_documentation_en-US" xlink:label="lab_bxmt_B5TermLoanDue2028Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-5 Term Loan Due 2028</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B5TermLoanDue2028Member" xlink:href="bxmt-20251231.xsd#bxmt_B5TermLoanDue2028Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B5TermLoanDue2028Member" xlink:to="lab_bxmt_B5TermLoanDue2028Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManagementFeePayable_8cc22b63-92cc-4f6e-b1c5-f430dd336398_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_20e36a96-0be7-44c7-be5d-2fa144d0ce9d_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/2025/elts/us-gaap-2025.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_us-gaap_SubsidiaryOfCommonParentMember_dec126e2-98d5-4639-b5d5-4aa103d8c0a0_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/2025/elts/us-gaap-2025.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_dei_EntityRegistrantName_14fc7bdd-5a5c-4dd1-bd47-3ac98a1716db_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/2025/dei-2025.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_bxmt_FinancingReceivable2.01To3.00FloorMember_c08ed4e9-cce0-481c-948f-aa6924849c20_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-20251231.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_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/2025/ecd-2025.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_bxmt_FinancingReceivable0.00OrNoFloorMember_c0196e0a-b0ed-4a34-992e-a37ffb4a5b7e_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-20251231.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_NumberOfOperatingSegments_4228f6e4-f2dc-4a1b-808c-cc7d542fa84e_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/2025/elts/us-gaap-2025.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_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward_853d79e7-196d-4d41-b004-f9402990566e_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" 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 [Roll Forward]</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" 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, Fee And Loan In Process</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:href="bxmt-20251231.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_7cb916f5-5e30-4a26-a088-f83b7f36b77d_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/2025/elts/us-gaap-2025.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_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_c44dc119-90f1-4847-aa61-40bea26d7074_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/2025/elts/us-gaap-2025.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_bxmt_AnnualDirectorCompensationAdditionalCompensation_995963d1-a447-47d2-b66d-3a59849b41e6_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-20251231.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_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/2025/ecd-2025.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_CapitalExpenditureRealEstateOwned_cde37fef-2745-4918-8a42-46915f015c57_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-20251231.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_cc7b05bb-aedf-4a65-8125-2a3c69a2b0a2_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-20251231.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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_aa4acc9a-8e08-4a81-9852-85967df53a2c_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Increase from Subsidiary Equity Issuance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_e08bc170-771c-4b36-a993-84a7d5a1ae0c_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">Summary 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/2025/elts/us-gaap-2025.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_us-gaap_InterestExpenseDebt_00bb78c5-b175-48cc-9ceb-4f54355964dd_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_b51ffe40-6eb3-4c5c-b106-710fd9143fa0_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/2025/elts/us-gaap-2025.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_MortgageLoansOnRealEstateWritedownOrReserveAmount1_17a3c34c-8868-4078-b145-67bc8ce7a948_negatedLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">CECL reserve</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1_be378406-ecb5-4db8-a899-bd989fabaa4e_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate CECL Reserve</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1" 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, Write-down or Reserve, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateWritedownOrReserveAmount1" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateInterestRate_f3410cf8-f41b-4058-b3d7-4cc0657d310e_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest payment rates</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateInterestRate_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateInterestRate" 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, Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateInterestRate" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateInterestRate" xlink:to="lab_srt_MortgageLoansOnRealEstateInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_AllCurrenciesDomain_34ab91d3-9c34-4d2d-a145-7bce273ec328_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/2025/currency-2025.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_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/2025/ecd-2025.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_bxmt_LoanParticipationsSoldAxis_e4e776b5-9936-4bbd-b3fd-9118c0ff0d2e_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Axis]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldAxis_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Axis]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldAxis_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldAxis" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldAxis" xlink:to="lab_bxmt_LoanParticipationsSoldAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax_69301505-9bed-41c2-9f6e-35ad1bb39939_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-20251231.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_us-gaap_DebtInstrumentFaceAmount_b70b0659-3a8b-4f12-9a50-24d1830abd84_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_a5c7ebab-1be5-41a8-a3c7-d3a0ff863842_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/2025/elts/us-gaap-2025.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_bxmt_LexingtonNationalLandServicesMember_ca4f827a-91f7-431b-990f-03767f0dc335_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-20251231.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_62925987-cb3f-4486-b9c6-685ea7be057f_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-20251231.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_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/2025/elts/us-gaap-2025.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_bxmt_DebtInstrumentNumberOfLenders_fac4423f-ac86-46d6-a50c-8ea66db4f9b6_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_b8ee16b6-6fdb-456c-827a-f126c3304a25_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-20251231.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_bxmt_NumberOfLoansReferred_2c10aba3-50be-42d9-860b-568bca9e40c9_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansReferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans referred</link:label>
    <link:label id="lab_bxmt_NumberOfLoansReferred_label_en-US" xlink:label="lab_bxmt_NumberOfLoansReferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans Referred</link:label>
    <link:label id="lab_bxmt_NumberOfLoansReferred_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansReferred" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans Referred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansReferred" xlink:href="bxmt-20251231.xsd#bxmt_NumberOfLoansReferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansReferred" xlink:to="lab_bxmt_NumberOfLoansReferred" 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/2025/ecd-2025.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_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_ec775499-67d4-4f1a-97d8-a8aeda9a8814_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_401b50df-e62b-455f-a174-8c1d9148fb80_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/2025/elts/us-gaap-2025.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_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax_9f7e0d7d-cc2d-4207-a174-ad023bb9a1fd_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 related to changes in fair value of derivative instruments</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_ecd_AggtErrCompNotYetDeterminedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined</link:label>
    <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/2025/ecd-2025.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock"/>
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    <link:label id="lab_bxmt_OtherInternationalMember_7fa351df-09e7-4c93-87ea-46e4297aef4e_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-20251231.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_bxmt_VariousMember_5b3d19a4-309c-4f02-ab30-6485c2f11f1a_terseLabel_en-US" xlink:label="lab_bxmt_VariousMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Various</link:label>
    <link:label id="lab_bxmt_VariousMember_label_en-US" xlink:label="lab_bxmt_VariousMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Various [Member]</link:label>
    <link:label id="lab_bxmt_VariousMember_documentation_en-US" xlink:label="lab_bxmt_VariousMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Various [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_VariousMember" xlink:href="bxmt-20251231.xsd#bxmt_VariousMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_VariousMember" xlink:to="lab_bxmt_VariousMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_IcfrAuditorAttestationFlag_87c32b39-6a53-44e3-800a-99908419f02c_terseLabel_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ICFR Auditor Attestation Flag</link:label>
    <link:label id="lab_dei_IcfrAuditorAttestationFlag_label_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ICFR Auditor Attestation Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_IcfrAuditorAttestationFlag" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_IcfrAuditorAttestationFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_IcfrAuditorAttestationFlag" xlink:to="lab_dei_IcfrAuditorAttestationFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AuditorFirmId_675ac592-f0f4-41c7-bcae-0a3ce2163498_terseLabel_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Auditor Firm ID</link:label>
    <link:label id="lab_dei_AuditorFirmId_label_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Auditor Firm ID</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AuditorFirmId" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AuditorFirmId"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorFirmId" xlink:to="lab_dei_AuditorFirmId" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_119248ce-c960-482b-b846-b5009e498296_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" 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_IncomeStatementLocationAxis_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Income Location, Balance [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeStatementLocationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis" xlink:to="lab_us-gaap_IncomeStatementLocationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities_50677c82-a621-41f1-b226-ff1713155f57_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-20251231.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_LineOfCreditFacilityRemainingBorrowingCapacity_cc3a9b1e-c958-4b86-ad56-ff450bfb36cc_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/2025/elts/us-gaap-2025.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_ProceedsOfLoanParticipations_b704d64c-1ba1-4e73-9601-551e67d0e726_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds of loan participations</link:label>
    <link:label id="lab_bxmt_ProceedsOfLoanParticipations_label_en-US" xlink:label="lab_bxmt_ProceedsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds Of Loan Participations</link:label>
    <link:label id="lab_bxmt_ProceedsOfLoanParticipations_documentation_en-US" xlink:label="lab_bxmt_ProceedsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds Of Loan Participations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsOfLoanParticipations" xlink:href="bxmt-20251231.xsd#bxmt_ProceedsOfLoanParticipations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsOfLoanParticipations" xlink:to="lab_bxmt_ProceedsOfLoanParticipations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_a9cc1f1b-2b2e-473d-8b5f-9a2170c3eb40_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/2025/elts/us-gaap-2025.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_bxmt_SecuredDebtRepaymentsPendingServicerRemittance_260f7b99-9e68-4c6b-8554-a05f4369497b_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-20251231.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_c42d5250-5498-4080-a2cf-8a303354ac2b_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-20251231.xsd#bxmt_EquityMethodInvestmentsNumberOfProperties"/>
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    <link:label id="lab_bxmt_FinancingReceivablesMember_36f55ca3-1d28-4ffe-a9b5-2b0c5b08f19d_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-20251231.xsd#bxmt_FinancingReceivablesMember"/>
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    <link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_a73ec494-d7f6-4506-a5d9-77dffc4dbe7a_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_6dbbce82-6f49-40fd-8a41-d615603cc426_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/2025/elts/us-gaap-2025.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_EarningsPerSharePolicyTextBlock_c422c413-deaf-4d08-ba48-c62b2263dc03_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/2025/elts/us-gaap-2025.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_us-gaap_RealEstateOwnedTextBlock_aac79fa5-a507-4d98-8e29-d286b50da453_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/2025/elts/us-gaap-2025.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_InterestPayableCurrentAndNoncurrent_d40365a4-c6b3-4716-b0c4-6f3110767825_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/2025/elts/us-gaap-2025.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_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet_8a5b4a35-36de-4483-ae50-029d80c5933d_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-20251231.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_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear_c2221299-0607-40e4-90dd-2ff38b459f5d_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year two</link:label>
    <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/2025/elts/us-gaap-2025.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_DividendsCommonStockOrdinaryDividendsPercentage_4db7a069-8c10-466e-964c-7d43355dc1c7_terseLabel_en-US" xlink:label="lab_bxmt_DividendsCommonStockOrdinaryDividendsPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent taxable as ordinary dividends</link:label>
    <link:label id="lab_bxmt_DividendsCommonStockOrdinaryDividendsPercentage_label_en-US" xlink:label="lab_bxmt_DividendsCommonStockOrdinaryDividendsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock, Ordinary Dividends, Percentage</link:label>
    <link:label id="lab_bxmt_DividendsCommonStockOrdinaryDividendsPercentage_documentation_en-US" xlink:label="lab_bxmt_DividendsCommonStockOrdinaryDividendsPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class&#160;A common stock dividends declared.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DividendsCommonStockOrdinaryDividendsPercentage" xlink:href="bxmt-20251231.xsd#bxmt_DividendsCommonStockOrdinaryDividendsPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DividendsCommonStockOrdinaryDividendsPercentage" xlink:to="lab_bxmt_DividendsCommonStockOrdinaryDividendsPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubordinatedDebtMember_69e97356-f076-4151-8cdd-5124774a12e4_terseLabel_en-US" xlink:label="lab_us-gaap_SubordinatedDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subordinated Debt</link:label>
    <link:label id="lab_us-gaap_SubordinatedDebtMember_label_en-US" xlink:label="lab_us-gaap_SubordinatedDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subordinated Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubordinatedDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubordinatedDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubordinatedDebtMember" xlink:to="lab_us-gaap_SubordinatedDebtMember" 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/2025/ecd-2025.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_us-gaap_CommonStockValue_c53267e1-8185-4a0c-a334-3f2f87e5bc6a_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, 168,259,023 and 172,792,094 shares issued and outstanding as of December&#160;31, 2025 and December&#160;31, 2024, 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/2025/elts/us-gaap-2025.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_ExtendedMaturityLoanFiveMember_774ca972-de7a-4fc9-a549-3d7fcb2c153b_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-20251231.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_us-gaap_ConvertibleDebtTableTextBlock_65368099-8438-4bcb-9987-2e61e22c388e_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">Summary 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/2025/elts/us-gaap-2025.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_us-gaap_InterestAndFeeIncomeLoansAndLeases_dc078030-0487-4814-9968-d25daf41e287_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, Loans and Leases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.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_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_78c7749b-8261-419b-8cdc-4476edf81333_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 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/2025/elts/us-gaap-2025.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_bxmt_LoanParticipationsSoldMember_16895b25-88e9-405f-aef2-722f347f31b5_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldMember_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Member]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldMember_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldMember" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldMember" xlink:to="lab_bxmt_LoanParticipationsSoldMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage_b410fee5-71dd-4102-bfe4-14f27c36ce47_terseLabel_en-US" xlink:label="lab_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent taxable as capital gain dividends</link:label>
    <link:label id="lab_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage_label_en-US" xlink:label="lab_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend, Share-Based Payment Arrangement, Capital Gains Dividends, Percentage</link:label>
    <link:label id="lab_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage_documentation_en-US" xlink:label="lab_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Direct stock units dividends declared.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage" xlink:href="bxmt-20251231.xsd#bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage" xlink:to="lab_bxmt_DividendShareBasedPaymentArrangementCapitalGainsDividendsPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_TitleOfIndividualAxis_53fae27a-6c42-4495-b797-aee6c811b8e1_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/2025/elts/srt-2025.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_CommitmentsAndContingencies_273b176d-0f4a-4db3-bdf9-2c108ad2fe4f_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 22)</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/2025/elts/us-gaap-2025.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_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff_db5e5d85-640b-4c6f-96f4-6f1b2ec46017_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/2025/elts/us-gaap-2025.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_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_a163f0f1-d437-48b1-aac0-2cb12bfbcbe9_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 income (loss)</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>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_bf312ccf-9b6c-48ac-8b49-935df8bc2ee2_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/2025/elts/us-gaap-2025.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_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum_90611ca2-3893-40e7-8839-6fdd825f2aca_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-20251231.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_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember_84f320e5-5fb7-41b3-9772-60c3b6aed68b_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-20251231.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_InterestIncomeMember_c675094b-7bb0-4b83-a7b6-b5735647ae26_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Income</link:label>
    <link:label id="lab_us-gaap_InterestIncomeMember_label_en-US" xlink:label="lab_us-gaap_InterestIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeMember" xlink:to="lab_us-gaap_InterestIncomeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_8366ef13-d980-432d-b787-15e759f24621_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_4b8a9816-ef15-4f7d-bc14-136cd55aa583_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/2025/elts/us-gaap-2025.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_bxmt_VariableRateSpreadAxis_5aa0d5e3-cd85-46c6-83ae-5d71870c28c5_terseLabel_en-US" xlink:label="lab_bxmt_VariableRateSpreadAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Axis]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadAxis_label_en-US" xlink:label="lab_bxmt_VariableRateSpreadAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Axis]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadAxis_documentation_en-US" xlink:label="lab_bxmt_VariableRateSpreadAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Rate Spread</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_VariableRateSpreadAxis" xlink:href="bxmt-20251231.xsd#bxmt_VariableRateSpreadAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_VariableRateSpreadAxis" xlink:to="lab_bxmt_VariableRateSpreadAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_9aefe89d-7984-4a02-a550-d6252b6ea094_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" 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 Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember_b602b1b9-b26c-41d3-892f-d7244cdcc61a_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-20251231.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_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease_37f76783-8b2a-46d9-93f6-b0d58f9199cd_verboseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Hedging adjustments</link:label>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease_1a314a08-3546-4c15-b993-ccbd12818315_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:to="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" 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/2025/ecd-2025.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_HedgedLiabilityFairValueHedge_2dad9d01-6ef6-40fa-b9df-99e22a4410c3_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/2025/elts/us-gaap-2025.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_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments_6f1e98e0-8436-46a5-ad43-b1ea7b1139a9_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-20251231.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_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember_49cd50d5-d34d-4b17-a2c1-4c28b671dea7_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-20251231.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_13f2a2b2-5779-437b-88a3-82335dfc743e_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-20251231.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_HedgingDesignationAxis_89aeb4db-7072-4402-9f75-766972ab69c5_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/2025/elts/us-gaap-2025.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_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_7f573dbf-a956-469e-92f8-e552e671746d_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/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock"/>
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    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePaidInKindInterest_f2311622-0665-422c-9af6-3a3b45e89973_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePaidInKindInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payment-in-kind interest, net of interest received</link:label>
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    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_ec9eda66-0c78-4cf0-81f1-599efe48cc51_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">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/2025/elts/us-gaap-2025.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_bxmt_LoanParticipationsPolicyTextBlock_5b7a70f5-b6fc-4cef-8e7b-04b8ec4c3b3e_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_LoanParticipationsPolicyTextBlock_label_en-US" xlink:label="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations [Policy Text Block]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsPolicyTextBlock_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan participations.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsPolicyTextBlock" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsPolicyTextBlock" xlink:to="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum_e358db98-2da9-4a00-81a7-431036ac38e5_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-20251231.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_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax_a75acfc6-31c0-4bff-887d-4f166e7ed2f0_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax"/>
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    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_f3921b97-f45e-4387-bf47-171614733196_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/2025/elts/us-gaap-2025.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_NetInvestmentHedgingMember_33280adb-e9f0-4a70-83f5-91944df2be01_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/2025/elts/us-gaap-2025.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_DerivativeContractTypeDomain_fca6db4f-4886-4954-a42c-eaeec0265c71_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/2025/elts/us-gaap-2025.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_bxmt_LoanParticipationsSoldAbstract_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Abstract]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldAbstract_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldAbstract" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldAbstract"/>
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    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable_13cc31ba-642a-4a6e-a730-c187d87d2c14_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable"/>
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    <link:label id="lab_us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized_019b93ea-7e95-77a5-bf1f-e4acca05c8d8_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/2025/elts/us-gaap-2025.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_us-gaap_DebtInstrumentsAbstract_289e32f4-87ac-4714-97b0-27ddef1c5b3b_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/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentsAbstract" xlink:to="lab_us-gaap_DebtInstrumentsAbstract" 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/2025/ecd-2025.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_us-gaap_LongtermDebtTypeDomain_d20ba467-388a-4d12-bb42-e271422b3f16_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/2025/elts/us-gaap-2025.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_FairValueDisclosuresAbstract_c0d9c44c-7341-4672-ad38-26203e9c692c_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/2025/elts/us-gaap-2025.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_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>
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    <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>
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    <link:label id="lab_bxmt_RiskRatingThreeMember_b0b717a3-2dff-42ef-b88d-7f6b66d0a954_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>
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    <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-20251231.xsd#bxmt_RiskRatingThreeMember"/>
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    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_42c18071-6c89-483e-9af9-f86fb88a79e7_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net interest margin (percentage)</link:label>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Weighted Average Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtWeightedAverageInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:to="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeographicDistributionDomesticMember_0caafaf6-f2f6-4b32-9400-357380e06b5a_verboseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">U.S. loans</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionDomesticMember_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Domestic [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionDomesticMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeographicDistributionDomesticMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionDomesticMember" xlink:to="lab_us-gaap_GeographicDistributionDomesticMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock_46ecd9a4-25d5-48f7-8161-280d9f22fc88_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Participations Sold, Net</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold Disclosure [Text Block]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:to="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_2e0ca6a5-59dd-43f8-b07f-627de6f55d55_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/2025/elts/us-gaap-2025.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_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_019bb7d1-f490-750a-95bb-fa52bd86f034_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">Summary 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/2025/elts/us-gaap-2025.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_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_2dd27b13-ab6a-4bf6-9c30-9809d8e36700_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-20251231.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_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/2025/ecd-2025.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_ScheduleOfFiniteLivedIntangibleAssetsTable_b67ebbfa-97db-4a3e-a514-34ac70ead075_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/2025/elts/us-gaap-2025.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_LineOfCreditFacilityRecourseLimitationPercent_3ca1b7bc-dca0-41c2-a9b8-98880c8c1ef8_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-20251231.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_srt_StatementGeographicalAxis_c4a8f426-c8c8-4ae9-a6bf-f5ff2b7beb47_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/2025/elts/srt-2025.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_bxmt_PerformingLoanInTechnicalDefaultMember_019c15ff-7dc6-7db8-96d2-b3e0b51dfcbc_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-20251231.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_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_92a020a5-ac40-4df5-bbf7-196ec6616dcf_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>
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    <link:label id="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability_5a240195-f272-4494-ac23-06fc46c32efa_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-20251231.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_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>
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    <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_bxmt_DebtInstrumentWeightedAverageAllInYield_993b612d-9953-40da-b299-0adf6128b591_totalLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/totalLabel" 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-20251231.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_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/2025/ecd-2025.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_ConcentrationRiskBenchmarkDomain_ed4a38c7-7b31-41d9-9c00-b2db15783dd5_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/2025/elts/us-gaap-2025.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_dei_Security12bTitle_ea6c7950-f14c-49fa-bf49-312dbc88bfb8_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/2025/dei-2025.xsd#dei_Security12bTitle"/>
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    <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_bxmt_PerformingLoanMember_7a8f8b9a-065a-4aa3-a6bf-9a43cf1638ba_terseLabel_en-US" xlink:label="lab_bxmt_PerformingLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performing Loan</link:label>
    <link:label id="lab_bxmt_PerformingLoanMember_label_en-US" xlink:label="lab_bxmt_PerformingLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performing Loan [Member]</link:label>
    <link:label id="lab_bxmt_PerformingLoanMember_documentation_en-US" xlink:label="lab_bxmt_PerformingLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performing Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PerformingLoanMember" xlink:href="bxmt-20251231.xsd#bxmt_PerformingLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PerformingLoanMember" xlink:to="lab_bxmt_PerformingLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable_5425fd14-64bc-4abd-87f0-97da210a62e3_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from repayment of loan</link:label>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable_label_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Collection of Loans Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromCollectionOfLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:to="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_0ba388a4-010a-4260-abed-8a18deb32635_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/2025/elts/us-gaap-2025.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_bxmt_LoanParticipationsSoldTable_6b6dc767-0dc2-45af-88a9-f3e128680574_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Table]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTable_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Table]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTable_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldTable" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationsSoldTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldTable" xlink:to="lab_bxmt_LoanParticipationsSoldTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_ef991562-1d12-45ec-8a0f-af6ec8b2c50f_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/2025/elts/us-gaap-2025.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_us-gaap_PaymentsForRepurchaseOfCommonStock_8b9c795c-2fd4-4a8b-85a4-4aac7e32768c_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue_9db09aea-649e-4af9-bc6e-2a499a14a4d3_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-20251231.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_ManagementAndServiceFeesIncentiveRate_91eb6cd7-bb66-4a3f-a265-09f2a875f6a2_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/2025/elts/us-gaap-2025.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_us-gaap_LineOfCreditMember_4a1418c1-6bad-46b8-9845-810f3af597c2_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/2025/elts/us-gaap-2025.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_us-gaap_RetainedEarningsAccumulatedDeficit_05c1d5a4-8ab0-4907-b214-eceb8f1ded7a_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/2025/elts/us-gaap-2025.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_bxmt_BlackstoneInternalAuditServicesMember_a1c10484-04b7-4a8c-8ac5-b0b82e1ed82c_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-20251231.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_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax_b0272022-07b4-4ec3-878d-7da3d081035d_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_DebtSecuritizedObligationWeightedAverageCostOverVariableRate_592b6094-8d9d-48bd-87a9-727aa01f9408_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-20251231.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_StatementClassOfStockAxis_69176b88-2ce6-4bae-b265-6ccc890ca325_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/2025/elts/us-gaap-2025.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_SubsequentEventTypeDomain_7a3b0367-a27e-41d3-bc9d-3f6ac09a47da_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain" xlink:to="lab_us-gaap_SubsequentEventTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ConvertibleSeniorNotesDue2027Member_b797b550-9efd-4e6c-8511-e5d8fe3d4d85_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-20251231.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_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>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CommonAndPreferredStockSharesAuthorized_510a7538-05c2-4912-9937-4a02fe1ea911_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-20251231.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_StatementTable_10af651a-f895-4d63-8bc7-d1577f0b3d89_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/2025/elts/us-gaap-2025.xsd#us-gaap_StatementTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_cd50bcb2-c668-48c8-a2af-f1717e66ff4e_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 income (loss) 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/2025/elts/us-gaap-2025.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_NetCashProvidedByUsedInFinancingActivitiesAbstract_92b38f9f-6a0c-4adf-b515-c2940e9ca7f7_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/2025/elts/us-gaap-2025.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_A2020FL3SeniorCollateralizedLoanObligationMember_9ca3ed88-490a-422d-8cbe-343f2967e8e1_terseLabel_en-US" xlink:label="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020 FL3 Senior Collateralized Loan Obligation</link:label>
    <link:label id="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember_label_en-US" xlink:label="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2020 FL3 Senior Collateralized Loan Obligation [Member]</link:label>
    <link:label id="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember_documentation_en-US" xlink:label="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2020 FL3 Senior Collateralized Loan Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:href="bxmt-20251231.xsd#bxmt_A2020FL3SeniorCollateralizedLoanObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:to="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BoardOfDirectorsMember_7733a486-ad76-4712-bc38-e92c41d92be0_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-20251231.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_us-gaap_VariableRateDomain_e6e41c64-110e-4ac5-9aa0-a8fece97b916_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/2025/elts/us-gaap-2025.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_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross_abb9e238-fa52-407a-a033-6c6b1f4a3abe_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-20251231.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_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_954a7c51-3ee9-4225-9f6f-a00b0debbe66_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/2025/elts/us-gaap-2025.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" 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-20251231.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_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/2025/ecd-2025.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_bxmt_SaleOfStockRemainingAuthorizedAmount_1cc7f1e6-6789-4576-9a3f-1abdd7eb52bf_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-20251231.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_dei_AmendmentFlag_e64d8240-32ef-459c-ad77-ff66f7c07e55_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/2025/dei-2025.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_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_e38050e7-a1a0-409a-baa9-ddf1fddc737b_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/2025/elts/us-gaap-2025.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_bxmt_MultifamilyJointVentureMember_b2ccc78d-9e24-4403-8c21-001d04639b02_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-20251231.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_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum_fb446f60-9305-4949-80dd-82d11488f519_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-20251231.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_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/2025/ecd-2025.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_A7RealEstateOwnedAssetsMember_9d33d7ad-b78b-4733-9fd5-cee7f2c11a73_terseLabel_en-US" xlink:label="lab_bxmt_A7RealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">7 Real Estate Owned Assets</link:label>
    <link:label id="lab_bxmt_A7RealEstateOwnedAssetsMember_label_en-US" xlink:label="lab_bxmt_A7RealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">7 Real Estate Owned Assets [Member]</link:label>
    <link:label id="lab_bxmt_A7RealEstateOwnedAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A7RealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">7 Real Estate Owned Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A7RealEstateOwnedAssetsMember" xlink:href="bxmt-20251231.xsd#bxmt_A7RealEstateOwnedAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A7RealEstateOwnedAssetsMember" xlink:to="lab_bxmt_A7RealEstateOwnedAssetsMember" 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/2025/ecd-2025.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_bxmt_AmountContributedToCaptiveTowardsInsurancePremium_65dee123-9791-4b28-bf36-0fb277468d96_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-20251231.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_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock_23f779e9-f5c1-43c4-99f5-5ebf7cb0aaf6_terseLabel_en-US" xlink:label="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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-20251231.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_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration_678e6c59-feb0-480d-952a-d7dad8a58150_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/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration"/>
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    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_277e6e78-41ed-43a1-9731-8ef853fe6d6e_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_5260f93e-b740-4a5b-91b4-6465b116a029_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_e6424d21-04e8-4a13-a797-6fb69209d4cc_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_ca8b0b9e-78f7-42fd-82aa-7257952bfac4_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_3352c194-60a9-4d17-906c-8d86fed80dd8_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/2025/elts/us-gaap-2025.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_us-gaap_ReceivableTypeDomain_d8c8134b-1fcd-4957-a61a-acf033a325e2_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/2025/elts/us-gaap-2025.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_ShareBasedCompensationAwardTrancheThreeMember_75fb8b6c-511f-4cf9-95aa-32a74913a8b6_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/2025/elts/us-gaap-2025.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_bxmt_LoanParticipationLiabilitiesPrincipalAmount_bade3972-921e-495a-b848-d7ff09a6eb19_netLabel_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_6205bf9e-5c7a-4eff-9c24-b8f18b718b91_verboseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance, loan participation</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_ba7ce2fc-dea2-4987-9f58-a038793736d0_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold, net, face amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_label_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participation Liabilities, Principal Amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participation Liabilities, Principal Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:href="bxmt-20251231.xsd#bxmt_LoanParticipationLiabilitiesPrincipalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:to="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember_daa702d9-d59b-4621-8dea-97ba38e66392_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-20251231.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_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember_019c163e-a48b-76b2-aa8d-10212cad7c17_terseLabel_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029, Repaid With B-6 Term Loan Proceeds</link:label>
    <link:label id="lab_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember_label_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029, Repaid With B-6 Term Loan Proceeds [Member]</link:label>
    <link:label id="lab_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember_documentation_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029, Repaid With B-6 Term Loan Proceeds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember" xlink:href="bxmt-20251231.xsd#bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember" xlink:to="lab_bxmt_B4TermLoanDue2029RepaidWithB6TermLoanProceedsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_603d196a-c746-4575-b63a-ce07ad1cffd9_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_0d1bbd75-b5b6-4c1b-8404-d49f2c37a810_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/2025/elts/us-gaap-2025.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_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_02bec922-9d24-4895-9db2-b0b7cb5788e0_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/2025/elts/us-gaap-2025.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_srt_DirectorMember_82c6f39c-16bc-4f66-8101-da5ef88fa13a_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/2025/elts/srt-2025.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_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/2025/elts/us-gaap-2025.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_bxmt_DirectorShareBasedPaymentArrangementExpense_e7a6c56b-b329-4807-940d-9877edbbf3fc_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-20251231.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_a9e09a34-e30c-409d-bc88-285ab312196d_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-20251231.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_DebtDisclosureAbstract_30766e3f-3b45-4939-ae95-4d47e9798285_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/2025/elts/us-gaap-2025.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_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/2025/ecd-2025.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_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_d1af56f1-52f4-4296-8da3-fdf3dae82635_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/2025/elts/us-gaap-2025.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_CommonStockParOrStatedValuePerShare_4ae6361a-5f0f-4ca5-80e9-a02f2adcfae2_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/2025/elts/us-gaap-2025.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_srt_ConsolidatedEntitiesAxis_5169ff21-bcc7-4ff9-ad2b-baecbfe6091a_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/2025/elts/srt-2025.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_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems_25e5c5cf-e368-454f-b4ce-7ca72b1bb849_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Line Items]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable1.01To2.00FloorMember_f56e5b20-2f71-4706-b16a-9eda088ca4b0_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-20251231.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_GeographicDistributionAxis_ddbb2e05-9cb8-48ca-933e-39bbd1108c83_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographic Distribution [Axis]</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionAxis_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeographicDistributionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionAxis" xlink:to="lab_us-gaap_GeographicDistributionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UseOfEstimates_d698885e-39c7-4b9b-98e3-32496b92af94_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/2025/elts/us-gaap-2025.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_bxmt_OffBalanceSheetCreditLossLiabilityNet_c2d7d2ff-186f-40ad-92b6-e6b722ac7841_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-20251231.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_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember_019c44a9-40be-79a8-96f7-760a3fb6dd13_terseLabel_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional lender funding</link:label>
    <link:label id="lab_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember_label_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Credit Facility, Additional Lender Funding [Member]</link:label>
    <link:label id="lab_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember_documentation_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured Credit Facility, Additional Lender Funding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember" xlink:href="bxmt-20251231.xsd#bxmt_SecuredCreditFacilityAdditionalLenderFundingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember" xlink:to="lab_bxmt_SecuredCreditFacilityAdditionalLenderFundingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingArrLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingArrLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Arrangements [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingArrLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingArrLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingArrLineItems" xlink:to="lab_ecd_InsiderTradingArrLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_dde00db8-8c51-49b1-ba79-f8bc70dd0f23_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/2025/elts/us-gaap-2025.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_bxmt_FinancingReceivableWeightedAverageRiskRating_85598126-c6f4-44e1-8e8c-52b376db9a9b_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-20251231.xsd#bxmt_FinancingReceivableWeightedAverageRiskRating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:to="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Liabilities_8850d9b8-6d26-4d04-b507-d5513b013768_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_da9dd5e1-9a8e-46f0-af56-262aaef52ce4_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/2025/elts/us-gaap-2025.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_srt_CurrencyAxis_002df05a-5140-45f0-92d5-951ae01fb7a6_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>
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    <link:label id="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent_ed426cd5-5525-45a8-a48f-70b17c450730_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>
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    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation_84711d97-33ee-4aed-8220-cd9362d7236c_terseLabel_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of non-employee directors eligible for annual compensation</link:label>
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    <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>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:href="bxmt-20251231.xsd#bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation"/>
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    <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/2025/ecd-2025.xsd#ecd_PnsnAdjsPrrSvcCstMember"/>
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    <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-20251231.xsd#bxmt_RealEstateOwnedDepreciationAndAmortizationExpense"/>
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    <link:label id="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember_dde85e7d-b9d7-4d4b-886d-ba214e137991_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-20251231.xsd#bxmt_A2025FL5UnderlyingCollateralAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:to="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_659e7fbb-9404-4476-b264-4a1cb2f32ca9_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
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    <link:label id="lab_bxmt_InvestmentRiskManagementCommitteeMember_09fdede6-030a-4282-9424-dc524a66fe26_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_VariableRateAxis_337173ac-0888-4cab-a351-91d0cff8aa06_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/2025/elts/us-gaap-2025.xsd#us-gaap_VariableRateAxis"/>
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    <link:label id="lab_srt_CounterpartyNameAxis_834a717b-4ed2-49f0-a295-826c3484f2d6_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/2025/elts/srt-2025.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_dei_EntityIncorporationStateCountryCode_edd7e1cc-6a51-4967-8de1-cf241b33f14b_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>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
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    <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/2025/ecd-2025.xsd#ecd_NonNeosMember"/>
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    <link:label id="lab_bxmt_AccruedManagementAndIncentiveFeesPayable_f7bff0a5-3564-46d8-a3a1-a8f51c45f4f9_terseLabel_en-US" xlink:label="lab_bxmt_AccruedManagementAndIncentiveFeesPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued management and incentive fees payable</link:label>
    <link:label id="lab_bxmt_AccruedManagementAndIncentiveFeesPayable_label_en-US" xlink:label="lab_bxmt_AccruedManagementAndIncentiveFeesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Management And Incentive Fees Payable</link:label>
    <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>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AccruedManagementAndIncentiveFeesPayable" xlink:href="bxmt-20251231.xsd#bxmt_AccruedManagementAndIncentiveFeesPayable"/>
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    <link:label id="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_79373e46-a6e8-4931-8e26-262f0ce0ddeb_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>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralAlreadyPostedAggregateFairValue"/>
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