Berkshire Income Realty Inc. has reported $2.1 million in funds from operations (FFO) for the three months ended June 30, compared to a loss of $159,574 for the same period last year.

For the six months ended June 30, the company reported $2.9 million in FFO, compared to a loss of $27,751 for the same period last year.

The increases primarily relate the company’s other-than-temporary impairment adjustment on its investment in the Leggat McCall Hingham Mezzanine Loan LLC, a change in the way the company accounts for transaction costs related to acquisition of properties, and the recognition of a loss contingency for damages resulting from an unsuccessful appeal of a legal dispute, according to a statement.

"Operating results remained positive through the second quarter with revenues and net operating income from our same property portfolio continuing to show increases over prior year results," said President and CFO David Quade. "Net operating income of the same store portfolio increased 9 percent over the comparable six months period of 2009 and reflects increases in revenue as well as lower operating expenses, the result of cost savings strategies implemented by management. Occupancy remained high and resulted in an average year-to-date occupancy level of over 95 percent. Looking ahead, improvement in the economy will allow us to begin increasing rent levels in markets where occupancy remains high and local economic trends exhibit strength."