Tony Marone
CFO at Blackstone Mortgage Trust
Overall, our CECL reserve ended the quarter at $746,000,000 down 27% quarter over quarter reflecting the impaired loan resolutions and otherwise generally stable credit in our portfolio. We received $1,600,000,000 of repayments in 4Q including a four risk rated multifamily loan and $5,200,000,000 of repayments throughout 2024, including $2,000,000,000 of office loans, a strong indication of performance and institutional liquidity for BXMT's loan collateral, notwithstanding challenging market conditions. So far in 2025, we've collected another 1,600,000,000 of repayments. In addition to our strong liquidity and nearly $7,000,000,000 of available financing capacity, this positions BXMT well to redeploy lower repayment proceeds and capitalize on our growing pipeline of new investment opportunities. To that end, BXMT closed $186,000,000 of loan originations in 4Q, largely concentrated in multifamily and industrial sectors and has over $2,000,000,000 of loans closed during closing so far in the first quarter of twenty twenty five.