Unsecured Credit Facility (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Mar. 28, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Mar. 27, 2025 |
Dec. 31, 2024 |
|
Line of Credit Facility [Line Items] | ||||||||
Long-term Line of Credit | $ 185,000 | $ 185,000 | $ 185,000 | $ 0 | ||||
Loss from early extinguishment of debt | $ 0 | $ 0 | $ 338 | $ 0 | ||||
Commercial Paper | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Commercial Paper, Maximum Borrowing Capacity | $ 750,000 | $ 500,000 | ||||||
Maximum [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.30% | |||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 1.40% | |||||||
Maximum [Member] | Commercial Paper | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Commercial Paper, Maximum Borrowing Capacity | $ 750,000 | |||||||
Minimum [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.10% | |||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.70% | |||||||
Line of Credit [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,500,000 | |||||||
Line of Credit Facility, Interest Rate Description | At BPLP’s option, loans under the 2025 Credit Facility that are advanced in U.S. dollars will bear interest at a rate per annum equal to Term SOFR, Daily Simple SOFR or a Base Rate (each as defined in the Tenth Amended and Restated Credit Agreement, which governs the 2025 Credit Facility (the “Credit Agreement”)), in each case, plus a margin based on BPLP’s credit rating ranging from (i) for Term SOFR and Daily Simple SOFR loans, (a) under the Revolving Facility, 70.0 to 140.0 basis points, or (b) under the Term Loan Facility, 75.0 to 160.0 basis points (plus a SOFR conversion adjustment of 10 basis points), and (ii) for Base Rate loans, (a) under the Revolving Facility, 0 to 40.0 basis points, or (b) under the Term Loan Facility, 0 to 60.0 basis points. | |||||||
Line of Credit Facility, Covenant Terms | Among other covenants, the 2025 Credit Facility requires that BPLP maintain: (1) a leverage ratio not to exceed 60%, however, the leverage ratio may increase to no greater than 65% provided that it is reduced back to 60% within one year, (2) a secured debt leverage ratio not to exceed 55%, (3) a fixed charge coverage ratio of at least 1.40, (4) an unsecured debt leverage ratio not to exceed 60%, however, the unsecured debt leverage ratio may increase to no greater than 65% provided that it is reduced to 60% within one year, (5) an unsecured debt interest coverage ratio of at least 1.75 and (6) limitations on permitted investments. | |||||||
Line of Credit Facility, Covenant Compliance | At June 30, 2025, BPLP was in compliance with each of these financial restrictions and requirements. | |||||||
Line of Credit Facility, Current Borrowing Capacity | $ 2,950,000 | |||||||
Loss from early extinguishment of debt | $ 300 | |||||||
Revolving Credit Facility [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.85% | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000 | |||||||
Line of Credit Facility, Commitment Fee Percentage | 0.20% | |||||||
Debt Instrument, Alternate Basis Spread on Variable Rate | 0.00% | 0.00% | 0.00% | |||||
Long-term Line of Credit | $ 185,000 | $ 185,000 | $ 185,000 | |||||
Line of Credit Facility, Current Borrowing Capacity | $ 2,250,000 | |||||||
Debt Instrument, Maturity Date | Mar. 29, 2030 |