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Blackstone Mortgage Trust Appoints Tim Johnson as CEO, Katie Keenan Steps Down
ByAinvest
Friday, Sep 19, 2025 10:22 am ET1min read
Blackstone Mortgage Trust (BXMT) has announced the appointment of Tim Johnson as CEO, succeeding Katie Keenan. Johnson will continue to lead BREDS and serve as BXMT's Board Chair. Keenan will assume the role of Global Head of Core+ Real Estate, effective immediately. The changes are set to take effect on November 10, 2025. Johnson has been with Blackstone since 2011 and brings over a decade of experience in commercial real estate credit investment strategies.
Blackstone (NYSE:BX) has announced significant leadership changes within its real estate division. Tim Johnson has been appointed as the new CEO of Blackstone Mortgage Trust (BXMT), succeeding Katie Keenan. Johnson will continue to lead Blackstone Real Estate Debt Strategies (BREDS) and serve as BXMT’s Board Chair. Keenan, who has been with Blackstone since 2012, will assume the role of Global Head of Core+ Real Estate, effective immediately. The changes will take effect on November 10, 2025 [1].Johnson, who has been with Blackstone since 2011, brings over a decade of experience in commercial real estate credit investment strategies. His appointment comes after the passing of former CEO Wesley M. LePatner on July 28, 2025. Keenan, who previously served as Global Co-Chief Investment Officer of BREDS and CEO of BXMT, will now oversee the Core+ real estate strategy, which is considered lower-risk within Blackstone’s $325 billion property business [1].
Blackstone’s real estate business, founded in 1991, manages a significant portfolio of investments, including logistics, data centers, residential, office, and hospitality properties. The company has delivered a strong performance, with a 9.2% annualized net return on Class I since inception over 8.5 years ago. The appointment of Johnson and Keenan underscores Blackstone’s commitment to maintaining its leadership in the real estate sector [1].
These leadership changes come amidst a series of strategic investments and acquisitions by Blackstone. The company recently announced plans to acquire the Hill Top Energy Center, a 620-megawatt natural gas power plant in Pennsylvania, for nearly $1 billion. Additionally, Blackstone and TPG have renewed their interest in acquiring Hologic Inc., a medical device maker, after previously approaching the company with an offer exceeding $16 billion. These developments highlight Blackstone’s ongoing strategic investments and market activities [1].
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