Wakefield-based Franklin Street Properties Corp., an investment firm specializing in real estate, has reported net income of $8.3 million for the fourth quarter, a $1.6 million increase from the same quarter in 2008.

In the fourth quarter, funds from operations (FFO) increased $2.9 million from the same quarter in 2008. The increase in FFO was primarily attributable to an increase in investment banking FFO of $1.8 million and an increase in real estate FFO of $1.1 million. The increase in real estate FFO was primarily from contributions from two acquisitions made in December 2008, two in June 2009 and one in September 2009, according to statement.

In 2009, the company reported $27.9 million in net income and $71.4 million in funds from operations (FFO). The company also reported funds from operations (FFO) of $19.1 million for the fourth quarter.

In 2009, net income decreased $4.1 million and FFO increased $2.2 million from 2008. The FFO increase in 2009 was primarily attributable to an increase in FFO real estate of $4.8 million. This increase was partially offset by an FFO decrease from investment banking of $2.6 million. The increase in real estate FFO was primarily from contributions from two acquisitions made in December 2008 and three in 2009.