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  "documentTitle": "Blackstone Mortgage Trust, Inc. (BXMT)",
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  "notes": "Uses a Washington Post article screenshot to support the bearish thesis on BXMT's exposure.",
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      "text": "\"Between spaces completed since 2020 and what's still in the pipeline, the [Austin] office market will grow nearly 25% – the fastest rate on the continent...Roughly 87% of new office space is expected to open vacant, according to data from Cushman & Wakefield\".",
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      "text": "Austin's office market is exploding. But no one is moving in.",
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      "text": "BXMT committed to a $675 million construction loan for a high-end mixed-use development, called \"Waterline\", which will have 700,000 sq ft of office. BXMT committed in Q2 2022, citing strong sponsorship and 62% LTC. This might be poorly timed, 6 million square feet of new office space is scheduled to come online over the next few years, with Facebook trying to sublease 589,000 sq ft.",
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      "text": "1 https://www.washingtonpost.com/business/2023/10/15/downtown-austin-real-estate-doom-loop/ 2 https://austin.towers.net/inside-waterline-downtown-austins-record-breaking-supertall-tower-plan/",
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