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Blackstone Mortgage Trust, Inc. Announces Closing Of Public Offering And Full Exercise Of Over-Allotment Option By Underwriters

NEW YORK, May 29, 2013 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced the closing of its previously announced public offering of class A common stock.  A total of 25,875,000 shares of class A common stock was sold, composed of 22,500,000 shares initially offered and an additional 3,375,000 shares sold pursuant to the underwriters' full exercise of their over-allotment option, in each case at a public offering price of $25.50 per share, for aggregate gross proceeds of approximately $660 million.  Aggregate net proceeds to the Company, after underwriting discounts and commissions and other estimated offering expenses after certain reimbursements, will be approximately $634 million.  After giving effect to the closing of the offering, including the shares issued pursuant to the over-allotment option, 28,892,791 shares and share equivalents of class A common stock are outstanding, and the book value per share of class A common stock (as of March 31, 2013) would have been $24.58 per share.

The Company intends to use the proceeds from the offering to originate and purchase loans through its recently commenced senior mortgage lending program in the United States and Europe, including the origination and acquisition of an initial portfolio of senior mortgage loans and pari passu participations in existing senior mortgage loans, and for working capital and general corporate purposes.

Citigroup, BofA Merrill Lynch, J.P. Morgan, Deutsche Bank Securities, Wells Fargo Securities and UBS Investment Bank acted as joint book-running managers for the offering. Blackstone Capital Markets, Keefe, Bruyette & Woods A Stifel Company, Evercore Partners and JMP Securities acted as co-managers.

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 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.

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