Boston Properties, one of Boston’s largest commercial landlords, reported lower quarterly funds from operations, due in part to lower rent revenue.

The company reported second quarter funds from operations (FFO) of $156.9 million, compared with $166.7 million a year earlier. FFO, a measure of performance, removes the profit-reducing effect of depreciation, a noncash accounting item.

Net income for the second quarter was $61.4 million, down from $67.2 million last year.

Boston Properties controls 9.3 million square feet of commercial space in Greater Boston. At the quarter’s end, its Boston holdings were 88.4 percent leased, down slightly from 89.6 percent at the end of 2009.

During the second quarter, the company placed the Weston Corporate Center, a 356,000-square-foot office property, into service. It is fully leased to Biogen.

Last month, the company said it used cash to repay the $22.6 million mortgage on its Eight Cambridge Center property in Kendall Square.

Quarterly filings show the company has yet to draw on its $215 million construction loan for Russia Wharf, a new Boston office tower that is scheduled to be delivered in the first quarter of 2011.