BREIT 2017 Annual Report

72 The following charts further describe the diversification of our CMBS investments by credit rating and collateral type based on fair value as of December 31, 2017: Collateral Type (1) BBB represents credit ratings of BBB+, BBB, and BBB-, BB represents credit ratings of BB+, BB, and BB-, and B represents credit ratings of B+, B, and B-. Other consists of investments that as of December 31, 2017, were either not ratable or have not been submitted to ratings agencies. Subsequent to December 31, 2017, we purchased an aggregate of $169.5 million of floating-rate CMBS. Rental and Hotel Revenue The following table details our rental revenue and hotel revenue by segment ($ in thousands): For the Year Ended Percentage of December 31, Total Rental and 2017 Hotel Revenue Rental revenue Multifamily $ 82,846 59% Industrial 24,034 17% Retail 3,549 3% Total rental revenue 110,429 79% Hotel revenue 29,916 21% Total rental and hotel revenue $ 140,345 100% BB 47% B 31% BBB 21% Other 1% Hospitality 61% Office 28% Residential 6% Retail 3% Industrial 2% Credit Rating (1)