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Redeemable Noncontrolling Interests in Operating Partnership (Tables) | 3 Months Ended
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Mar. 31, 2021
Noncontrolling Interest [Abstract] |
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:
| March 31, 2021 |  | December 31, 2020
Redeemable noncontrolling interests in Braemar OP | $ | 28,162 |  |  | $ | 27,655 |
Adjustments to redeemable noncontrolling interests (1) | $ | 1,433 |  |  | $ | 167 |
Ownership percentage of operating partnership | 8.87 | % |  | 9.43 | %
____________________________________ (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 March 31,
|  |  |  |  | 2021 |  | 2020 |  |
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership |  |  |  |  | $ | 1,079 |  |  | $ | 1,885 |  |  |
The following table presents the common units redeemed and the fair value at redemption (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020 |  |
Common units converted to common stock |  |  |  |  | — |  |  | 339 |  |  |
Fair value of common units converted |  |  |  |  | $ | — |  |  | $ | 390 |  | (1) |
____________________________________ (1) The redemption value is the greater of historical cost or fair value. The historical cost of the converted units was $3.5 million.

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- Definition Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. + References No definition available. + Details
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