v3.26.1
Noncontrolling Interests
3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Abstract]  
Noncontrolling Interests

13. Noncontrolling Interests

Redeemable Noncontrolling Interests in the OP

The following table sets forth the redeemable noncontrolling interests in the OP (reflecting the OP’s consolidation of the Subsidiary OPs) for the three months ended March 31, 2026 and 2025 (in thousands):

 

 

 

For the Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Redeemable noncontrolling interests in the OP, January 1,

 

$

82,235

 

 

$

86,164

 

Net income attributable to redeemable noncontrolling interests in the OP

 

 

2,366

 

 

 

4,163

 

Distributions to redeemable noncontrolling interests in the OP

 

 

(2,093

)

 

 

(2,519

)

Redeemable noncontrolling interests in the OP, March 31,

 

$

82,508

 

 

$

87,808

 

 

 

The table below presents the common shares and OP Units outstanding held by the noncontrolling interests (“NCI”) and excludes the OP Units held by the Company as they are eliminated in consolidation:

 

Period End

 

Common Shares Outstanding

 

 

OP Units Held by NCI

 

 

Combined Outstanding

 

March 31, 2026

 

 

18,686,983

 

 

 

4,186,109

 

 

 

22,873,092