Company: BHR-PD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001574085-25-000130
Chunk: 29

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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Unrealized gain (loss) on derivatives(299)(1)(1,746)(1)(850)(1)(3,698)(1)Realized gain (loss) on interest rate caps181 (1) (2)1,011 (1) (2)549 (1) (2)4,221 (1) (2)Realized gain (loss) on investment in securities— — (1,250)(3)— Net$(118)$(735)$(1,551)$523 ________(1)Reported in “realized and unrealized gain (loss) on derivatives” in our condensed consolidated statements of operations.(2)Represents settled and unsettled payments from counterparties on interest rate caps.(3)Reported in “other income (expense)” in our condensed consolidated statements of operations.

The amortized cost of the CMBS at September 30, 2025 and December 31, 2024, was $17.3 million and $42.3 million, respectively. The unrealized gain (loss) recognized as a change in other comprehensive income (loss) for the three and nine months ended September 30, 2025 was $143,000 and $742,000, respectively. During the nine months ended September 30, 2025, the Company sold a portion of the CMBS with a par value of $25 million resulting in a realized loss of approximately $1.3 million included in “other income (expense)” on the condensed consolidated statements of operations. As a result of the sale, $68,000 of unrealized gain was reclassified to realized loss during the nine months ended September 30, 2025. There was no unrealized gain (loss) recognized as a change in other comprehensive income (loss) for the three months ended September 30, 2025. There was no unrealized gain (loss) recognized as a change in other comprehensive income (loss) for the three and nine months ended September 30, 2024.

9. Summary of Fair Value of Financial Instruments

Determining the estimated fair values of certain financial instruments such as indebtedness requires considerable judgment to interpret market data. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Accordingly, the estimates presented are not necessarily indicative of the amounts at which these instruments could be purchased, sold or settled.

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BRAEMAR HOTELS &