Blackstone Mortgage Trust Appoints New CEO

NEW YORK – Blackstone Mortgage Trust Inc. has appointed president, Katie Keenan to the position of CEO, effective June 30, 2021. Keenan will additionally join Blackstone Mortgage Trust’s board of directors.

In assuming the position, Keenan will succeed Steve Plavin, who will continue to serve on the Blackstone Real Estate Debt Strategies leadership team as senior managing director, where he will oversee its European platform. Mike Nash will continue in his role as executive chairman of the Blackstone Mortgage Trust board of directors.

The appointment represents the culmination of a multi-year transition plan for the company. As the president of Blackstone Mortgage Trust, Keenan’s responsibilities have increased greatly as a part of the plan. In recent years, she has played an integral role in managing the firm’s investment strategy and operations.

Upon initially joining Blackstone in 2012, Keenan joined Blackstone Mortgage Trust’s management team in 2018, serving as the firm’s EVP of investments, prior to being appointed to president in February 2020. Since Keenan joined the management team, Blackstone Mortgage Trust’s portfolio has grown by more than 50% to $18.7 billion today.

During her time at the firm, Keenan has overseen the origination of more than $8 billion of loans across various asset types and markets. She notably led the origination of Blackstone Mortgage Trust’s $1.8 billion construction loan for Tishman Speyer’s Spiral project, which served as the firm’s largest loan to date and one of the largest construction loans ever in New York City. She additionally led the origination of Blackstone Mortgage Trust’s $724 million first mortgage financing of Hudson Commons and $888 million first mortgage financing of the Rosslyn Office Portfolio.

“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,” states Keenan. “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.”

Plavin has led Blackstone Mortgage Trust since 2013. During his tenure, he oversaw a period of significant growth and strong performance for the firm.

“Katie is the ideal person to lead BXMT through its next chapter,” states Plavin. “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.”

Prior to joining Blackstone, Keenan held positions at G2 Investment Group, Lubert-Adler Real Estate Funds and at Lehman Brothers’ real estate investment banking group. She currently sits on NYPEN Real Estate’s advisory board and she is a member of the WX New York Women Executives in Real Estate organization. Keenan graduated cum laude from Harvard College.