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Investments (Tables) | 9 Months Ended
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Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Summarized Investment balances | Summarized investment balances as of September 30, 2025 and December 31, 2024 are presented in the following table.
(in millions) | September 30, 2025 |  | December 31, 2024
Investment Management co-investments | $ | 502.4 |  |  | 406.1 |
Proptech Investments | 357.2 |  |  | 372.8 |
Other investments | 35.5 |  |  | 33.8 |
Total | $ | 895.1 |  |  | 812.7 |
Investments in real estate ventures, Fair Value | The table below shows the movement in our investments reported at fair value. The table below does not include our $13.0 million investment in certain mid-stage non-public companies as they are non-marketable equity investments accounted for under the measurement alternative, defined as cost minus impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.
(in millions) | 2025 | 2024
Fair value investments as of January 1, | $ | 742.0 |  | 740.8 |
Investments | 146.9 |  | 72.2 |
Distributions | (56.9) |  | (17.3) |
Change in fair value, net | (28.2) |  | (10.7) |
Foreign currency translation adjustments, net | 16.3 |  | 2.1 |
Transfers in | 24.6 |  | 8.4 |
Fair value investments as of September 30, | $ | 844.7 |  | 795.5 |

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