Blackstone Mortgage Trust's $9 billion office loans account for 40% of its portfolio, prompting a 24% dividend cut due to pandemic-related impacts and rising interest rates.
Executives believe the commercial real estate market is bottoming, despite $142.6 million reserve increase to protect against losses from non-performing office loans.
#blackstone-mortgage-trust #office-loans #dividend-cut #commercial-real-estate-market #reserve-increase
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