Noncontrolling Interests (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Redeemable Noncontrolling Interests

The following table sets forth the redeemable noncontrolling interests in the OP for the six months ended June 30, 2026 (in thousands):


Redeemable noncontrolling interests in the OP, December 31, 2025	$	4,928
Net loss attributable to redeemable noncontrolling interests in the OP		(61	)
Other comprehensive loss attributable to redeemable noncontrolling interests in the OP		(31	)
Distributions to redeemable noncontrolling interests in the OP		(110	)
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP		43
Redeemable noncontrolling interests in the OP, June 30, 2026	$	4,769

Summary of Fees Incurred to BH And Its Affiliates As Well As Reimbursements Paid to BH

The following is a summary of fees that the properties incurred to BH and its affiliates, as well as reimbursements paid to BH from the properties for various operating expenses, for the three and six months ended June 30, 2026 and 2025 (in thousands):


		For the Three Months Ended June 30,				For the Six Months Ended June 30,
		2026		2025		2026		2025
Fees incurred
Property management fees	(1)	$	1,819	$	1,798	$	3,626	$	3,611
Construction supervision fees	(2)		226		243		388		383
Design fees	(2)		5		—		22		—
Reimbursements
Payroll and benefits	(3)		4,533		4,463		9,346		9,128
Other reimbursements	(4)		54		765		545		1,394

(1)

Included in property management fees on the consolidated statements of operations and comprehensive loss.

(2)

Capitalized on the consolidated balance sheets and reflected in buildings and improvements.

(3)

Included in property operating expenses on the consolidated statements of operations and comprehensive loss.

(4)

Includes property operating expenses such as repairs and maintenance costs and certain property general and administrative expenses, which are included on the consolidated statements of operations and comprehensive loss.