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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

BPLP’s derivative contracts consisted of the following at December 31, 2025 (dollars in thousands):

Derivative Instrument						Aggregate Notional Amount																		Strike Rate Range												Balance Sheet Location
												Effective Date						Maturity Date						Low						High												Fair Value
Interest Rate Swaps						$	600,000					December 15, 2023						October 26, 2028						3.790		%	—			3.798		%				Other liabilities						$	(8,260)
Interest Rate Swaps						300,000						April 7, 2025						April 6, 2026						3.678		%	—			3.678		%				Other liabilities						(23)
						$	900,000																																			$	(8,283)

Derivative Instruments, Gain (Loss)

The following table presents the location in the financial statements of the gains or (losses) recognized as a result of the Company’s cash flow hedges for the years ended December 31, 2025, 2024 and 2023 (in thousands):

												Year ended December 31,
																		2025						2024						2023
Amount of gain (loss) related to the effective portion recognized in other comprehensive income (loss) (1)																		$	(19,601)					$	9,202					$	(14,405)
Amount of gain (loss) related to the effective portion subsequently reclassified to earnings (2)																		$	8,126					$	12,618					$	6,703
Amount of gain (loss) related to the ineffective portion and amount excluded from effectiveness testing																		$	—					$	—					$	—

_______________

(1)Includes the Company’s share of gain (loss) related to the effective portion of derivatives outstanding at its unconsolidated joint venture properties.

(2)Includes amounts from previous interest rate programs.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC

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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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