v3.25.2
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
BPLP’s derivative contracts consisted of the following at June 30, 2025 (dollars in thousands):
Derivative InstrumentAggregate Notional Amount Strike Rate RangeBalance Sheet Location
Effective Date Maturity DateLow High Fair Value
Interest Rate Swaps$600,000 December 15, 2023October 26, 20283.790%—3.798%Other liabilities$(8,411)
Interest Rate Swaps300,000 April 7, 2025April 6, 20263.678%—3.678%Prepaid expenses and other assets629 
$900,000 $(7,782)
Derivative Instruments, Gain (Loss)
The following table presents the location in the financial statements of the gains or (losses) recognized as a result of the Company’s cash flow hedges for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three months ended June 30,Six months ended June 30,
2025202420252024
Amount of gain (loss) related to the effective portion recognized in other comprehensive income (loss) (1)$(5,636)$936 $(18,912)$17,287 
Amount of gain (loss) related to the effective portion subsequently reclassified to earnings (2)$1,692 $3,081 $4,773 $6,441 
Amount of gain (loss) related to the ineffective portion and amount excluded from effectiveness testing$— $— $— $— 
_______________
(1)Includes the Company’s share of gain (loss) related to the effective portion of derivatives outstanding at its unconsolidated joint venture properties.
(2)Includes amounts from previous interest rate programs.