v3.26.3
Redeemable Noncontrolling Interests in Operating Partnership (Tables)
9 Months Ended
Sep. 30, 2026
Noncontrolling Interest [Abstract]  
Schedule of Redeemable Noncontrolling Interest
The following table presents the redeemable noncontrolling interests in Braemar OP (in thousands) and the corresponding approximate ownership percentage of our operating partnership:
September 30, 2026December 31, 2025
Redeemable noncontrolling interests in Braemar OP (in thousands)$11,173 $19,005 
Adjustments to redeemable noncontrolling interests (1) (in thousands)
$14,526 $5,830 
Ownership percentage of operating partnership6.27 %6.91 %
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(1)    Reflects the excess of the redemption value over the accumulated historical cost.
We allocated net (income) loss to the redeemable noncontrolling interests as illustrated in the table below (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership$16,104 $607 $15,805 $2,358 
Distributions declared to holders of common units, LTIP units and Performance LTIP units$— $271 $— $886 
The following table presents the common units redeemed/exchanged for common stock (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Units redeemed/exchanged
— — 460 1,922 
Fair value of common units redeemed (1)
$— $— $1,391 $4,897 
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(1)    The redemption value is the greater of accumulated historical cost or fair value. The accumulated historical cost of the converted units for the nine months ended September 30, 2026 was $722,000. The accumulated historical cost of the converted units for the nine months ended September 30, 2025 was $9.3 million.
The following table presents the common units redeemed for cash (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Units redeemed
— — — 36 
Fair value of common units redeemed
$— $— $— $94