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Redeemable Noncontrolling Interests in Operating Partnership (Tables) | 9 Months Ended
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Sep. 30, 2025
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, 2025 |  | December 31, 2024
Redeemable noncontrolling interests in Braemar OP (in thousands) | $ | 18,942 |  |  | $ | 29,964 |
Adjustments to redeemable noncontrolling interests (1) (in thousands) | $ | 2,330 |  |  | $ | 1,324 |
Ownership percentage of operating partnership | 6.91 | % |  | 8.05 | %
____________________________________ (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,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership | $ | 607 |  |  | $ | 124 |  |  | $ | 2,358 |  |  | $ | 1,747 |  |  |
Distributions declared to holders of common units, LTIP units and Performance LTIP units | $ | 271 |  |  | $ | 369 |  |  | 886 |  |  | 1,103 |  |  |
The following table presents the common units redeemed/exchanged for common stock (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |
Units redeemed/exchanged | — |  |  | — |  |  | 1,922 |  |  | $ | — |  |  |  |
Fair value of common units redeemed (1) | $ | — |  |  | $ | — |  |  | $ | 4,897 |  |  | — |  |  |  |
____________________________________ (1) The redemption value is the greater of historical cost or fair value. The 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, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |
Units redeemed | 1 |  |  | — |  |  | 36 |  |  | — |  |  |  |
Fair value of common units redeemed | $ | 2 |  |  | $ | — |  |  | $ | 94 |  |  | $ | — |  |  |  |

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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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479887/480-10-S45-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479857/480-10-S50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3A -Subparagraph (24) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A + Details
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