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PARTNERS' EQUITY OF THE PARENT COMPANY
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
PARTNERS' EQUITY OF THE PARENT COMPANY
12. PARTNERS’ EQUITY OF THE PARENT COMPANY
Earnings per Common Partnership Unit
The following table details the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding):
Three Months Ended September 30,
20252024
BasicDilutedBasicDiluted
Numerator
Net loss$(25,998)$(25,998)$(165,720)$(165,720)
Net loss attributable to noncontrolling interests1 1 3 3 
Nonforfeitable dividends allocated to unvested restricted unitholders(313)(313)(276)(276)
Net loss attributable to common unitholders$(26,310)$(26,310)$(165,993)$(165,993)
Denominator
Total weighted-average units outstanding174,214,907 174,214,907 173,184,325 173,184,325 
Loss per Common Partnership Unit:
Net loss attributable to common unitholders$(0.15)$(0.15)$(0.96)$(0.96)
Nine Months Ended September 30,
20252024
BasicDilutedBasicDiluted
Numerator
Net loss$(141,990)$(141,990)$(151,867)$(151,867)
Net (income) loss attributable to noncontrolling interests1 1 (3)(3)
Nonforfeitable dividends allocated to unvested restricted unitholders(1,064)(1,064)(889)(889)
Net loss attributable to common unitholders$(143,053)$(143,053)$(152,759)$(152,759)
Denominator
Total weighted-average units outstanding173,900,925 173,900,925 172,995,920 172,995,920 
Loss per Common Partnership Unit:
Net loss attributable to common unitholders$(0.82)$(0.82)$(0.88)$(0.88)
Unvested restricted units are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per unit. For the three and nine months ended September 30, 2025 and 2024, earnings representing nonforfeitable dividends were allocated to the unvested restricted units issued to the Parent Company’s executives and other employees under the Parent Company’s shareholder-approved long-term incentive plan.
Common Partnership Units
On September 26, 2025, the Operating Partnership declared a distribution of $0.08 per common partnership unit, totaling $14.1 million, which was paid on October 23, 2025 to unitholders of record as of October 9, 2025.
In connection with the Parent Company’s common share repurchase program, one common unit of the Operating Partnership is retired for each common share repurchased. During the nine months ended September 30, 2025 and September 30, 2024, the Company did not repurchase any units under the program.