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Investments in Joint Ventures | 6 Months Ended
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Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Joint Ventures | 6. Investments in Joint Ventures On April 1, 2022, the Company obtained 100% of the ownership interests in the Funds and, as discussed in Note 5, "Acquisitions and Dispositions," above, consolidated the Funds as of the acquisition date. Prior to the acquisition, we held a 31.3% ownership interest in the Funds, and accounted for these investments under the equity method. The following table summarizes the combined balance sheets and statements of income data for the Funds as of and for the periods presented:
(in millions) | June 30, 2022 |  | December 31, 2021
Total assets | $ | — |  |  | $ | 679.1 |
Total third-party debt | — |  |  | 513.8 |
Total equity | — |  |  | 131.9 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2022 (1) |  | 2021 |  | 2022 |  | 2021
Total revenues | $ | — |  |  | $ | 34.2 |  |  | $ | 37.2 |  |  | $ | 67.2 |
Net income | — |  |  | 4.7 |  |  | 7.1 |  |  | 8.4 |
Equity in income (2) | — |  |  | 2.2 |  |  | 3.0 |  |  | 4.1 |
(1)We consolidated the operations of the Funds as of April 1, 2022 and therefore results are $0 for the three months ended June 30, 2022. (2)Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds. Prior to the acquisition of the Funds, we earned fees for property and asset management, construction, development, and other services related to the Funds, and we eliminated fee income for services provided to the Funds to the extent of our ownership. Fees earned for these services, net of eliminations, were approximately $1.7 million for the six months ended June 30, 2022, and approximately $1.5 million and $3.1 million for the three and six months ended June 30, 2021, respectively. There were no fees earned during the three months ended June 30, 2022 due to the acquisition on April 1, 2022.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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