{
 "markdown": "ENDNOTES RELATING TO EARNINGS RELEASE\n\n\na. Includes $0.1B to reflect BXMT's 75% share of net lease properties acquired by its Net Lease Joint Venture and $0.1B to reflect BXMT's 45% share of a portfolio of\nsingle-family construction loans acquired by its Homebuilder Finance Joint Venture.\nb. Includes (i) multifamily and condo loans and (ii) BXMT's share of a portfolio of single-family construction loans acquired by its Homebuilder Finance Joint Venture.\nc. Reflects, as of June 30, 2026, (i) BXMT's loan portfolio of $16.9B, which represents net book value less total loans receivable CECL reserves, (ii) BXMT's $0.7B share of\nthe carrying value of investments held by BXMT's Net Lease Joint Venture, (iii) BXMT's $0.5B share of the fair value of loans held by BXMT's Bank Loan Portfolio Joint\nVenture, (iv) BXMT's $0.1B share of the fair value of the loans held by BXMT's Homebuilder Finance Joint Venture, (v) the $1.4B aggregate carrying value of BXMT's\nowned real estate assets, and (vi) BXMT's $66M fair value of investments in debt securities.\nd. Based on Net Loan Exposure. Refer to Definitions.\ne. Excludes (i) BXMT's $0.7B share of the carrying value of investments held by BXMT's Net Lease Joint Venture, (ii) BXMT's $0.5B share of the fair value of loans held by\nBXMT's Bank Loan Portfolio Joint Venture, (iii) BXMT's $0.1B share of the fair value of the loans held by BXMT's Homebuilder Finance Joint Venture, (iv) the $1.4B\naggregate carrying value of BXMT's owned real estate assets, and (v) BXMT's $66M fair value of investments in debt securities.\nf. Non-MTM debt consists of, as of June 30, 2026, $3.4B of corporate debt, $2.8B of securitized debt, and $7.9B of borrowings under non-mark-to-market master\nrepurchase agreements, credit facilities, and asset-specific debt. The margin call provisions in BXMT's non-mark-to-market master repurchase agreements and credit\nfacilities only permit valuation adjustments if the loan or collateral pledged or sold by BXMT becomes defaulted.\ng. Includes $0.5B to reflect BXMT's 75% share of net lease properties acquired by its Net Lease Joint Venture, $0.3B to reflect BXMT's 35% share of the portfolios of\nperforming senior loans acquired by its Bank Loan Portfolio Joint Venture, $0.1B to reflect BXMT's 45% share of a portfolio of single-family construction loans acquired\nby its Homebuilder Finance Joint Venture, and $67M of investments in debt securities.\nh. Includes hospitality, condo, data center, and office loans.\ni. Includes (i) BXMT's share of a portfolio of single-family construction loans acquired by its Homebuilder Finance Joint Venture and (ii) investments in debt securities.\nj. Investment types that represent less than 1% of BXMT's Investment Portfolio are included in Other Investments in the chart, which includes the Homebuilder Finance\nJoint Venture and investment in debt securities.\nk. Assets in BXMT's loan portfolio with multiple components are proportioned into the relevant collateral types and geographies based on their relative value.\nl. States and countries composing less than 1% of total loan portfolio are excluded.\nm. Geographic diversification excludes one U.S. dollar-denominated loan (0.4% of portfolio) that is located in Bermuda and allocated to \"Other International\".\nn. Represents debt-to-equity ratio, which is the ratio of (i) total outstanding secured debt, asset-specific debt, term loans, senior secured notes, and convertible notes,\nin each case excluding unamortized deferred financing costs and discounts, less cash, to (ii) total equity.\no. Excludes 1.0% per annum of scheduled amortization payments under the Term Loan B.\np. Date loan was originated or acquired by BXMT.\nq. Total commitment reflects outstanding principal balance as well as any related unfunded loan commitment.\nr. Net book value represents outstanding principal balance, net of purchase and sale discounts or premiums, exit fees, deferred origination expenses, and cost-recovery\nproceeds.\ns. The weighted-average cash coupon and all-in yield are expressed as a spread over the relevant floating benchmark rates. Excludes loans accounted for under the cost-\nrecovery and nonaccrual methods, if any.\nt. Maximum maturity assumes all extension options are exercised; however, BXMT's loans may be repaid prior to such date. Excludes loans accounted for under the cost-\nrecovery and nonaccrual methods, if any.\nu. Reflects weighted average loan-to-value (\"LTV\") as of the date investments were originated or acquired by BXMT, excluding any loans that are impaired.\nv. Represents net income (loss) attributable to Blackstone Mortgage Trust, Inc.\n\n\nBlackstone Mortgage Trust, Inc.\n\n\nBlackstone | 31\n\n<!-- doc_id=parse-01m0ffhs0bn24vjkzndefh54jc -->",
 "structure": {
  "type": "document",
  "markdown": null,
  "children": [
   {
    "type": "page",
    "page": null,
    "span": null,
    "width": null,
    "height": null,
    "dpi": null,
    "grounding": {
     "page": 1,
     "range": {
      "start": 0,
      "end": 4680
     },
     "box": {
      "xmin": 0.0,
      "ymin": 0.0,
      "xmax": 1.0,
      "ymax": 1.0
     }
    },
    "markdown": null,
    "status": "ok",
    "reason": null,
    "children": [
     {
      "type": "text",
      "id": "text-0",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 0,
        "end": 38
       },
       "box": {
        "xmin": 0.04545259,
        "ymin": 0.02992897,
        "xmax": 0.39718625,
        "ymax": 0.06139994
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 0,
         "end": 38
        },
        "box": {
         "xmin": 0.04802631,
         "ymin": 0.03515795,
         "xmax": 0.39397643,
         "ymax": 0.05827515
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     },
     {
      "type": "text",
      "id": "text-1",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 40,
        "end": 4626
       },
       "box": {
        "xmin": 0.04282001,
        "ymin": 0.07454169,
        "xmax": 0.95807838,
        "ymax": 0.92577326
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 40,
         "end": 206
        },
        "box": {
         "xmin": 0.04809955,
         "ymin": 0.0832634,
         "xmax": 0.95156822,
         "ymax": 0.10253205
        }
       },
       {
        "page": 1,
        "range": {
         "start": 206,
         "end": 290
        },
        "box": {
         "xmin": 0.07999832,
         "ymin": 0.10246101,
         "xmax": 0.51615415,
         "ymax": 0.12120899
        }
       },
       {
        "page": 1,
        "range": {
         "start": 290,
         "end": 458
        },
        "box": {
         "xmin": 0.04804275,
         "ymin": 0.12653327,
         "xmax": 0.92026567,
         "ymax": 0.14745062
        }
       },
       {
        "page": 1,
        "range": {
         "start": 458,
         "end": 631
        },
        "box": {
         "xmin": 0.04878575,
         "ymin": 0.15278758,
         "xmax": 0.94909831,
         "ymax": 0.17247772
        }
       },
       {
        "page": 1,
        "range": {
         "start": 631,
         "end": 798
        },
        "box": {
         "xmin": 0.07939296,
         "ymin": 0.17215917,
         "xmax": 0.95013537,
         "ymax": 0.19064814
        }
       },
       {
        "page": 1,
        "range": {
         "start": 798,
         "end": 961
        },
        "box": {
         "xmin": 0.07939206,
         "ymin": 0.19060223,
         "xmax": 0.95035833,
         "ymax": 0.20871243
        }
       },
       {
        "page": 1,
        "range": {
         "start": 961,
         "end": 1054
        },
        "box": {
         "xmin": 0.07942011,
         "ymin": 0.20878243,
         "xmax": 0.5558966,
         "ymax": 0.22684255
        }
       },
       {
        "page": 1,
        "range": {
         "start": 1054,
         "end": 1107
        },
        "box": {
         "xmin": 0.04864863,
         "ymin": 0.23294241,
         "xmax": 0.34018988,
         "ymax": 0.25293292
        }
       },
       {
        "page": 1,
        "range": {
         "start": 1107,
         "end": 1278
        },
        "box": {
         "xmin": 0.0487912,
         "ymin": 0.25862028,
         "xmax": 0.94902532,
         "ymax": 0.27866615
        }
       },
       {
        "page": 1,
        "range": {
         "start": 1278,
         "end": 1441
        },
        "box": {
         "xmin": 0.07936323,
         "ymin": 0.27830893,
         "xmax": 0.95038141,
         "ymax": 0.29697096
        }
       },
       {
        "page": 1,
        "range": {
         "start": 1441,
         "end": 1568
        },
        "box": {
         "xmin": 0.07936945,
         "ymin": 0.29698958,
         "xmax": 0.73308364,
         "ymax": 0.31626201
        }
       },
       {
        "page": 1,
        "range": {
         "start": 1568,
         "end": 1726
        },
        "box": {
         "xmin": 0.04816984,
         "ymin": 0.32047593,
         "xmax": 0.94939464,
         "ymax": 0.34002153
        }
       },
       {
        "page": 1,
        "range": {
         "start": 1726,
         "end": 1889
        },
        "box": {
         "xmin": 0.07899576,
         "ymin": 0.34018561,
         "xmax": 0.94950615,
         "ymax": 0.35883529
        }
       },
       {
        "page": 1,
        "range": {
         "start": 1889,
         "end": 2003
        },
        "box": {
         "xmin": 0.07924777,
         "ymin": 0.35883702,
         "xmax": 0.66571675,
         "ymax": 0.37748249
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2003,
         "end": 2169
        },
        "box": {
         "xmin": 0.04795323,
         "ymin": 0.38326556,
         "xmax": 0.94958111,
         "ymax": 0.40303973
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2169,
         "end": 2338
        },
        "box": {
         "xmin": 0.07855172,
         "ymin": 0.40296941,
         "xmax": 0.9501686,
         "ymax": 0.4212274
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2338,
         "end": 2424
        },
        "box": {
         "xmin": 0.07946026,
         "ymin": 0.42096067,
         "xmax": 0.52945183,
         "ymax": 0.43874894
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2424,
         "end": 2487
        },
        "box": {
         "xmin": 0.04858963,
         "ymin": 0.44496639,
         "xmax": 0.38250887,
         "ymax": 0.46457506
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2487,
         "end": 2658
        },
        "box": {
         "xmin": 0.0484084,
         "ymin": 0.47040925,
         "xmax": 0.92968125,
         "ymax": 0.49108858
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2658,
         "end": 2824
        },
        "box": {
         "xmin": 0.04902578,
         "ymin": 0.49649886,
         "xmax": 0.94909667,
         "ymax": 0.51612001
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2824,
         "end": 2873
        },
        "box": {
         "xmin": 0.08044143,
         "ymin": 0.51613502,
         "xmax": 0.33413525,
         "ymax": 0.5337765
        }
       },
       {
        "page": 1,
        "range": {
         "start": 2873,
         "end": 3032
        },
        "box": {
         "xmin": 0.0483877,
         "ymin": 0.54029017,
         "xmax": 0.88448546,
         "ymax": 0.56046608
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3032,
         "end": 3117
        },
        "box": {
         "xmin": 0.04872318,
         "ymin": 0.5654664,
         "xmax": 0.49922848,
         "ymax": 0.58541419
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3117,
         "end": 3276
        },
        "box": {
         "xmin": 0.0488825,
         "ymin": 0.59163262,
         "xmax": 0.88317491,
         "ymax": 0.61162597
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3276,
         "end": 3448
        },
        "box": {
         "xmin": 0.0483991,
         "ymin": 0.61728776,
         "xmax": 0.94748537,
         "ymax": 0.63700165
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3448,
         "end": 3556
        },
        "box": {
         "xmin": 0.08020715,
         "ymin": 0.63711495,
         "xmax": 0.62514291,
         "ymax": 0.65617982
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3556,
         "end": 3641
        },
        "box": {
         "xmin": 0.04879074,
         "ymin": 0.66077576,
         "xmax": 0.52858573,
         "ymax": 0.68096202
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3641,
         "end": 3690
        },
        "box": {
         "xmin": 0.0490952,
         "ymin": 0.68701265,
         "xmax": 0.32424099,
         "ymax": 0.70692646
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3690,
         "end": 3798
        },
        "box": {
         "xmin": 0.04942441,
         "ymin": 0.71273944,
         "xmax": 0.6405673,
         "ymax": 0.73271098
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3798,
         "end": 3966
        },
        "box": {
         "xmin": 0.04904231,
         "ymin": 0.73891484,
         "xmax": 0.94815595,
         "ymax": 0.75783591
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3966,
         "end": 3976
        },
        "box": {
         "xmin": 0.07969095,
         "ymin": 0.75833796,
         "xmax": 0.13458537,
         "ymax": 0.77607543
        }
       },
       {
        "page": 1,
        "range": {
         "start": 3976,
         "end": 4144
        },
        "box": {
         "xmin": 0.04830546,
         "ymin": 0.78230431,
         "xmax": 0.94861103,
         "ymax": 0.8008346
        }
       },
       {
        "page": 1,
        "range": {
         "start": 4144,
         "end": 4185
        },
        "box": {
         "xmin": 0.08014966,
         "ymin": 0.80143295,
         "xmax": 0.29740831,
         "ymax": 0.81968176
        }
       },
       {
        "page": 1,
        "range": {
         "start": 4185,
         "end": 4351
        },
        "box": {
         "xmin": 0.0481832,
         "ymin": 0.82629486,
         "xmax": 0.94883198,
         "ymax": 0.84465489
        }
       },
       {
        "page": 1,
        "range": {
         "start": 4351,
         "end": 4392
        },
        "box": {
         "xmin": 0.08018905,
         "ymin": 0.84582707,
         "xmax": 0.2975639,
         "ymax": 0.86368104
        }
       },
       {
        "page": 1,
        "range": {
         "start": 4392,
         "end": 4546
        },
        "box": {
         "xmin": 0.04924544,
         "ymin": 0.87031211,
         "xmax": 0.87221181,
         "ymax": 0.88938631
        }
       },
       {
        "page": 1,
        "range": {
         "start": 4546,
         "end": 4626
        },
        "box": {
         "xmin": 0.04911409,
         "ymin": 0.89577384,
         "xmax": 0.47688906,
         "ymax": 0.91454717
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     },
     {
      "type": "marginalia",
      "id": "marginalia-0",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 4628,
        "end": 4660
       },
       "box": {
        "xmin": 0.04517811,
        "ymin": 0.93752706,
        "xmax": 0.21815389,
        "ymax": 0.96206999
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 4628,
         "end": 4660
        },
        "box": {
         "xmin": 0.04789831,
         "ymin": 0.93948307,
         "xmax": 0.2156436,
         "ymax": 0.95963453
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     },
     {
      "type": "marginalia",
      "id": "marginalia-1",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 4662,
        "end": 4678
       },
       "box": {
        "xmin": 0.85501242,
        "ymin": 0.93482751,
        "xmax": 0.95317149,
        "ymax": 0.95935971
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 4662,
         "end": 4678
        },
        "box": {
         "xmin": 0.85925184,
         "ymin": 0.93851083,
         "xmax": 0.94954781,
         "ymax": 0.9554571
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     }
    ]
   }
  ]
 },
 "grounding": null,
 "metadata": {
  "req_id": null,
  "job_id": "parse-01m0ffhs0bn24vjkzndefh54jc",
  "model_version": "dpt-3-pro-20260710",
  "page_count": 1,
  "markdown_chars": null,
  "output_markdown_chars": 4727,
  "range_units": "unicode_codepoints",
  "openapi_spec": "https://api.ade.landing.ai/openapi.json",
  "failed_pages": [],
  "duration_ms": 13196,
  "billing": {
   "service_tier": "standard",
   "total_credits": 1.7
  }
 }
}