BREIT 2017 Annual Report

F-16 6. Mortgage Notes, Term Loans, and Revolving Credit Facilities The following is a summary of the mortgage notes, term loans, and revolving credit facilities secured by the Company’s properties as of December 31, 2017 ($ in thousands): Indebtedness Weighted Average Interest Rate (1) Weighted Average Maturity Date (2) Maximum Facility Size Principal Balance (3) Fixed rate mortgages 3.80% 1/17/2025 N/A $ 1,468,294 BAML Industrial Term Loan (4) L+2.10% 6/1/2022 N/A 186,000 BAML Revolving Credit Facility (4) L+2.10% 6/1/2022 $ 186,000 186,000 Citi Revolving Credit Facility (5) L+2.25% 10/26/2020 300,000 178,831 Floating rate mortgage L+2.18% 5/9/2022 N/A 63,600 Capital One Term Loan (6) L+1.80% 12/12/2022 N/A 22,500 Capital One Revolving Credit Facility (6) L+1.80% 12/12/2022 20,600 20,600 Total loans secured by our properties 2,125,825 Deferred financing costs, net (16,075) Premium on assumed debt, net 1,541 Mortgage notes, term loans, and revolving credit facilities, net $ 2,111,291 (1) The term “L” refers to the one-month LIBOR. As of December 31, 2017, one-month LIBOR was equal to 1.6%. (2) For loans where the Company, at its sole discretion, has extension options, the maximum maturity date has been assumed. (3) The majority of the Company’s mortgages contain yield or spread maintenance provisions. In addition, the majority of the Company’s loans are interest only except for certain loans with amortization provisions after a certain period of time. (4) The BAML Industrial Term Loan and BAML Revolving Credit Facility are secured by certain of the Company’s industrial assets. (5) As of December 31, 2017, the Citi Revolving Credit Facility is secured by the Company’s hotel investments. (6) The Capital One Term Loan and Capital One Revolving Credit Facility are secured by one of the Company’s industrial assets. The following table presents the future principal payments due under the Company’s mortgage notes, term loans, and revolving credit facilities as of December 31, 2017 ($ in thousands): Year Amount 2018 $ 1,095 2019 1,829 2020 181,195 2021 4,145 2022 487,248 Thereafter 1,450,313 Total $ 2,125,825 7. Repurchase Agreements The Company has entered into master repurchase agreements with Citigroup Global Markets Inc. (the “Citi MRA”), Royal Bank of Canada (the “RBC MRA”), and Bank of America Merrill Lynch (the “BAML MRA”) to provide the Company with additional financing capacity secured by the Company’s $915.7 million of investments in real estate-related securities. The terms of the Citi MRA, RBC MRA, and BAML MRA provide the lenders the ability to determine the size and terms of the financing provided based upon the particular collateral pledged by the Company from time-to-time.