Brookfield Properties, owners of 53 and 75 State Street in Boston, has declared net income attributable to commom shareholders of $154 million for the quarter-ended June 30, compared to a net loss of $396 million for the same period last year.

Funds from operations (FFO) was $209 million or 40 cents per diluted share for the three months ended June 30, 2010, compared with $123 million or 32 cents per diluted share during the same period in 2009. The results include a realized gain of $53 million, or 10 cents per diluted share, related to an investment return. FFO, a measure of performance, removes the profit-reducing effect of depreciation, a noncash accounting item.

Commercial property net operating income for the second quarter was $180 million, compared with $162 million during the second quarter of 2009. Residential property net operating income for the second quarter was $33 million, compared with $13 million during the second quarter of 2009.

Brookfield’s managed portfolio occupancy rate finished the quarter at 94.8 percent. In addition to Boston, the company owns significant portfolios in New York and Los Angeles; and Calgary and Toronto, Canada.