Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

BPLP’s interest rate swap contracts consisted of the following at June 30, 2023 (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	$	1,200,000	May 4, 2023	May 16, 2024	4.638	%	—	4.646	%	Prepaid expenses and other assets	$	6,445

Derivative Instruments, Gain (Loss)

The following table presents the location in the financial statements of the gains or losses recognized related to the Company’s cash flow hedges for the three and six months ended June 30, 2023 and 2022 (dollars in thousands):

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Amount of gain (loss) related to the effective portion recognized in other comprehensive income (1)	$	14,965	$	35	$	8,427	$	7,600
Amount of gain (loss) related to the effective portion subsequently reclassified to earnings (2)	$	1,674	$	1,677	$	3,349	$	3,353
Amount of gain (loss) relate do the ineffective portion and amount excluded from effectiveness testing	$	—	$	—	$	—	$	—

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

(2)Consists of amounts from previous interest rate programs.