Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Redeemable Noncontrolling Interests

The following table sets forth the redeemable noncontrolling interests in the OP for the nine months ended September 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		(107	)
Other comprehensive loss attributable to redeemable noncontrolling interests in the OP		(34	)
Distributions to redeemable noncontrolling interests in the OP		(165	)
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP		102
Redeemable noncontrolling interests in the OP, September 30, 2026	$	4,724

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

, for the three and nine months ended September 30, 2026 and 2025 (in thousands):


		For the Three Months Ended September 30,				For the Nine Months Ended September 30,
		2026		2025		2026		2025
Fees incurred
Property management fees	(1)	$	1,797	$	1,778	$	5,423	$	5,389
Construction supervision fees	(2)		275		328		663		711
Design fees	(2)		—		2		22		2
Reimbursements
Payroll and benefits	(3)		5,118		4,355		14,464		13,483
Other reimbursements	(4)		355		517		900		1,912

(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.