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   "markdown": "<a id='03cbd1ac-0d89-43cc-9900-2a06a57cdc09'></a>\n\n## BREDS PLATFORM OVERVIEW\n\n*   Blackstone Real Estate Debt Strategies (\"BREDS\") is the largest alternative manager of real estate credit, investing across Core, Core+ and Opportunistic debt strategies on behalf of institutional investors and insurance capital\n*   BREDS' global scale, cross-market knowledge and proprietary sourcing network provide BXMT access to attractive relative value investments across global markets",
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   "markdown": "<a id='74eecbbf-01fb-46ba-b953-8fc4cc7680c9'></a>\n\n# Proprietary Sourcing Engine\n\n760+\nBorrower bank and\nbroker relationships\n\n86%\nOriginations with\nrepeat borrowers(f)",
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 "markdown": "<a id='03cbd1ac-0d89-43cc-9900-2a06a57cdc09'></a>\n\n## BREDS PLATFORM OVERVIEW\n\n*   Blackstone Real Estate Debt Strategies (\"BREDS\") is the largest alternative manager of real estate credit, investing across Core, Core+ and Opportunistic debt strategies on behalf of institutional investors and insurance capital\n*   BREDS' global scale, cross-market knowledge and proprietary sourcing network provide BXMT access to attractive relative value investments across global markets\n\n<a id='e805bc25-0a6a-459c-a488-1a3da00a4499'></a>\n\nGlobal Scale\n<::\n$78B Investor capital\n165+ BREDS professionals\n: figure::>\n\n<a id='a4f5ee22-6012-4909-aa8f-2dd4c593e909'></a>\n\nReal-Time Insights\n<::\n$600B+\nBlackstone Real Estate\nTEV\u207d\u1d43\u207e\n\n63\nBlackstone Real Estate\nportfolio companies\n: figure::>\n\n<a id='74eecbbf-01fb-46ba-b953-8fc4cc7680c9'></a>\n\n# Proprietary Sourcing Engine\n\n760+\nBorrower bank and\nbroker relationships\n\n86%\nOriginations with\nrepeat borrowers(f)\n\n<a id='7731f091-6c9e-46da-8b0e-29fd0b455de9'></a>\n\nDifferentiated Access\n---\n<::\n$155B+\nLoan originations since\ninception(g)\n\n$24B\nBank loan portfolios\nacquired since Q4 2023(h)\n: figure::>\n\n<a id='c245135f-2023-432a-9795-6ddd235dde28'></a>\n\nBlackstone Mortgage Trust, Inc.\n\n<a id='4febc5f5-7e17-4540-970e-12a1b7585361'></a>\n\nBlackstone |\n\n<a id='e7cecf58-4bd2-43bc-b60e-3e8205ba6a06'></a>\n\n3",
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   "markdown": "<a id='03cbd1ac-0d89-43cc-9900-2a06a57cdc09'></a>\n\n## BREDS PLATFORM OVERVIEW\n\n*   Blackstone Real Estate Debt Strategies (\"BREDS\") is the largest alternative manager of real estate credit, investing across Core, Core+ and Opportunistic debt strategies on behalf of institutional investors and insurance capital\n*   BREDS' global scale, cross-market knowledge and proprietary sourcing network provide BXMT access to attractive relative value investments across global markets\n\n<a id='e805bc25-0a6a-459c-a488-1a3da00a4499'></a>\n\nGlobal Scale\n<::\n$78B Investor capital\n165+ BREDS professionals\n: figure::>\n\n<a id='a4f5ee22-6012-4909-aa8f-2dd4c593e909'></a>\n\nReal-Time Insights\n<::\n$600B+\nBlackstone Real Estate\nTEV\u207d\u1d43\u207e\n\n63\nBlackstone Real Estate\nportfolio companies\n: figure::>\n\n<a id='74eecbbf-01fb-46ba-b953-8fc4cc7680c9'></a>\n\n# Proprietary Sourcing Engine\n\n760+\nBorrower bank and\nbroker relationships\n\n86%\nOriginations with\nrepeat borrowers(f)\n\n<a id='7731f091-6c9e-46da-8b0e-29fd0b455de9'></a>\n\nDifferentiated Access\n---\n<::\n$155B+\nLoan originations since\ninception(g)\n\n$24B\nBank loan portfolios\nacquired since Q4 2023(h)\n: figure::>\n\n<a id='c245135f-2023-432a-9795-6ddd235dde28'></a>\n\nBlackstone Mortgage Trust, Inc.\n\n<a id='4febc5f5-7e17-4540-970e-12a1b7585361'></a>\n\nBlackstone |\n\n<a id='e7cecf58-4bd2-43bc-b60e-3e8205ba6a06'></a>\n\n3",
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