BREIT 2017 Annual Report

F-17 The following table is a summary of our repurchase agreements as of December 31, 2017 ($ in thousands): Facility Weighted Average Interest Rate (1) Weighted Average Maturity Date (2) Security Interests Collateral Assets (3) Outstanding Balance Prepayment Provisions Citi MRA L+1.57% 8/23/2018 CMBS $ 694,808 $ 512,975 None RBC MRA L+1.54% 11/24/2018 CMBS 194,918 150,238 None BAML MRA L+1.16% 2/9/2018 CMBS 26,016 19,635 None $ 915,742 $ 682,848 (1) The term “L” refers to the three-month LIBOR. As of December 31, 2017, three-month LIBOR was equal to 1.7% (2) Subsequent to quarter end, the Company rolled its repurchase agreement contracts expiring in February 2018 into new nine or 12 month contracts. (3) Represents the fair value of the Company’s investments in real estate-related securities. 8. Affiliate Line of Credit On January 23, 2017, the Company entered into an unsecured, uncommitted line of credit (the “Line of Credit”) up to a maximum amount of $250 million with Blackstone Holdings Finance Co. L.L.C. (“Lender”), an affiliate of Blackstone. The Line of Credit expires on January 23, 2019, and may be extended for up to 12 months, subject to Lender approval. The interest rate is the then- current rate offered by a third-party lender, or, if no such rate is available, LIBOR plus 2.25%. Interest under the Line of Credit is determined based on a one-month U.S. dollar-denominated LIBOR, which was 1.6% as of December 31, 2017. Each advance under the Line of Credit is repayable on the earliest of (i) the expiration of the Line of Credit, (ii) Lender’s demand and (iii) the date on which the Adviser no longer acts as the Company’s investment adviser, provided that the Company will have 180 days to make such repayment in the cases of clauses (i) and (ii) and 45 days to make such repayment in the case of clause (iii). To the extent the Company has not repaid all loans and other obligations under the Line of Credit when repayment is required, the Company is obligated to apply the net cash proceeds from the Offering and any sale or other disposition of assets to the repayment of such loans and other obligations; provided that the Company will be permitted to (x) make payments to fulfill any repurchase requests pursuant to the Company’s share repurchase plan, (y) use funds to close any acquisition of property that the Company committed to prior to receiving a demand notice and (z) make quarterly distributions to the Company’s stockholders at per share levels consistent with the immediately preceding fiscal quarter and as otherwise required for the Company to maintain its REIT status. As of December 31, 2017, the Company had $5.4 million in borrowings, including accrued interest, outstanding under the Line of Credit. 9. Other Assets and Other Liabilities The following table summarizes the components of other assets ($ in thousands): December 31, 2017 December 31, 2016 Real estate intangibles, net $ 113,844 — Receivables 7,386 — Pre-acquisition costs 6,588 — Deferred financing costs, net 5,248 — Prepaid expenses 3,267 — Straight-line rent receivable 2,045 — Deferred leasing commissions, net 1,193 — Other 5,711 — Total $ 145,282 $ —