Blackstone Mortgage Trust, Inc. (NYSE: BXMT) announced the closing of BXMT 2017-FL1, a $1 billion Collateralized Loan Obligation, which is the largest commercial real estate CLO issued post financial crisis. The CLO transaction finances pari passu participation interests in 31 of BXMT's portfolio loans at an effective advance rate of 81.75% with a weighted average coupon at issuance of L+1.21%. Proceeds from the CLO issuance were used to repay BXMT credit facilities.

Steve Plavin, President and CEO of BXMT, said, "The closing of BXMT 2017 FL-1 represents a significant expansion of our credit capacity and a further diversification of our funding sources. The innovative structural features enabled market leading efficiency while preserving our flexibility as a balance sheet lender. The scale and quality of our loan portfolio uniquely positioned us to execute this highly attractive financing."

Wells Fargo Securities acted as sole structuring agent. Wells Fargo Securities, Citigroup and BofA Merrill Lynch acted as co-lead managers and joint bookrunners. Société Générale acted as co-manager.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Blackstone Mortgage Trust Blackstone Mortgage Trust (NYSE: BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America and Europe. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from our loan portfolio. We are externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone.

About Blackstone Blackstone (NYSE: BX) is one of the world's leading investment firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Blackstone's asset management businesses, with over $385 billionin assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.