Boston’s Berkshire Income Realty Inc. has reported $1.3 million in funds from operations (FFO) for the three months ended March 31, an increase of $519,349 or 65.5 percent, compared to $793,355 for the same period in 2010.

The increase in FFO during the period was due primarily to the incremental contribution to FFO from a newly acquired property and net gains in rental revenue growth from existing properties in the portfolio, according to a statement.

"We’ve had a successful first quarter in 2011, closing on three attractive acquisitions. In January, we acquired Estancia Apartment Homes in Dallas, Texas, a 207-unit Class A townhouse community. This transaction was followed up with the closing of two well-located joint venture development deals. 2020 Lawrence, a 231-unit ground-up development in downtown Denver, Colo., and NoMA, a 603-unit ground-up development in Washington, D.C. These transactions demonstrate our goal of raising the quality of our investment portfolio," said President David Quade.