Blackstone Mortgage Trust(BXMT) - 2022 Q4 - Annual Report

spreads decline at the same time, the proceeds of such prepayments received during such periods may not be reinvested for some period of time or may be reinvested by us in assets with lower yields than the assets that were prepaid. In periods of increasing interest rates and/or credit spreads, prepayment rates on loans will generally decrease, which could impact our liquidity, or increase our potential exposure to loan non-performance. As our loans and investments are repaid, we will have to redeploy the pr ...