Blackstone Mortgage Trust releases transcript of Q2 2026 investor call
BXMT•Loan sales and Hyatt San Francisco process
Management launched sales processes for over $1 billion of mostly office loans; no reserves were taken for those.
The Hyatt San Francisco sale process is expected to start this week.
Q2 2026 investor call and earnings results
Blackstone Mortgage Trust discussed Q2 2026 results on its July 30 investor call, led by CEO Tim Johnson, President Austin Peña and CFO Marcin Urbaszek.
GAAP net loss was $0.48 per share; distributable earnings were $0.31; and distributable earnings before realized gains and losses were $0.48 versus a $0.47 dividend.
Repayments, reinvestment and watchlist changes
Management reported $1.2 billion of Q2 repayments, nearly all pre-2023, and said it reinvested into $1.4 billion of new investments, mainly residential, industrial and net lease.
The watchlist fell to $2 billion from $2.5 billion, and three new impairments included a $345 million Chicago office loan that defaulted, with restructuring terms substantially agreed.
