Exhibit 99.1
Katie Keenan Named Chief Executive Officer of Blackstone Mortgage Trust
Steve Plavin to Continue as Senior Managing Director of BREDS and Oversee European Business
New York, May 19, 2021 – Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today announced that Katie Keenan, BXMT’s President, has been named Chief Executive Officer of BXMT, effective June 30, 2021. She will succeed Steve Plavin, who remains a key member of the Blackstone Real Estate Debt Strategies leadership team and will oversee BREDS’ best-in-class European platform. In connection with her appointment, Ms. Keenan will join the BXMT Board of Directors. Mike Nash continues in his role as Executive Chairman of the Board of Directors.
This announcement marks the culmination of a multi-year transition plan. Over the past few years, Ms. Keenan has taken on increasing responsibility within BXMT, playing an integral role in managing the company’s investment strategy and operations. Prior to being appointed BXMT’s President in February 2020, she served as BXMT’s Executive Vice President for Investments. Since Katie joined the management team of BXMT in 2018, the BXMT portfolio has grown by over 50% to $18.7 billion today, with consistently strong credit performance and returns.
Steve has led BXMT since its re-IPO in 2013, overseeing a period of significant growth and strong performance for the business. The REIT has grown to a world-class, leading commercial mortgage lender with an $18.7 billion portfolio and $4.6 billion market cap and yielded total returns to shareholders of 10.8% annualized.
Mr. Plavin said, “Katie is the ideal person to lead BXMT through its next chapter. Since joining the BXMT leadership team, she has taken on increasing responsibility for the business and proven to be an exceptional investor, strategist and manager. I look forward to joining the team in London and leading the growing BREDS Europe business, while working closely with Katie to ensure a seamless transition.”
Ms. Keenan added, “I am grateful to Steve for his leadership in building BXMT into the premier commercial mortgage REIT in the market, and it has been a great privilege to work closely with him in managing BXMT over the past several years. The company has an excellent track record and draws from a deep bench of talent and experience as part of the Blackstone platform. We are extremely well positioned for future performance and growth, and I look forward to continuing to work closely with Steve in the transition and in his new role in Europe.”
Ms. Keenan joined Blackstone in 2012. During her tenure, she has overseen the origination of over $8 billion of loans across asset types and markets. She led the origination of BXMT’s $1.8 billion construction loan on Tishman Speyer’s Spiral project, which is BXMT’s largest loan to date and one of the largest construction loans ever in New York City, as well as BXMT’s $724 million first mortgage financing of Hudson Commons and $888 million first mortgage financing of the Rosslyn Office Portfolio.
Ms. Keenan graduated cum laude with an A.B. in History from Harvard College. Before joining Blackstone, Ms. Keenan held positions at G2 Investment Group, Lubert-Adler Real Estate Funds and in the Real Estate Investment Banking Group at Lehman Brothers. She sits on the Advisory Board of NYPEN Real Estate and is a member of WX New York Women Executives in Real Estate, an organization that aims to promote the advancement of women in commercial real estate. She is also a member of the Board of Directors of Getting Out and Staying Out, a direct services non-profit focused on partnering with people impacted by arrest and incarceration on a journey of education, employment, and emotional wellbeing to reduce recidivism.
