Commercial real estate service firm Jones Lang LaSalle Inc. has reported net income of $37 million for the quarter ended Sept. 30, an increase from $20 million in net income for the same period last year.

The company, which has a significant presence in Boston, reported $708 million in revenue for the third quarter, compared with $595 million in the third quarter of 2009, an increase of 19 percent. On a year-to-date basis net income was $69 million, compared with a net loss of $56 million for the first nine months of 2009.

"We strengthened our market positions and expanded businesses around the world, with healthy revenue growth in both our transactional and annuity businesses," said Colin Dyer, chief executive officer of Jones Lang LaSalle. "We posted solid results in the third quarter, as the broad market recovery continued."

The firm’s outstanding debt on its long-term credit facility was $253 million at Sept. 30, compared with $292 million at Sept. 30, 2009. During the third quarter, the firm made the first deferred payment related to the Staubach acquisition. The firm also announced it renewed and extended its bank credit facility, increasing the capacity to $1.1 billion from $840 million and extending the maturity to September 2015 from June 2012.

The board of directors declared a semi-annual dividend of 10-cents per share of its common stock, consistent with the semi-annual dividends paid in recent periods. The dividend payment will be made Dec. 15 to holders of record at the close of business on
Nov. 15.

Third-quarter revenue in the Americas region was $309 million, an increase of 29 percent over the prior year, driven by increased transactional activities, both in leasing, which increased 38 percent in local currency year over year, and capital markets and hotels.

"Throughout the downturn, the firm has strengthened its corporate business and redefined its cost base across transactional businesses. It has maintained steady margin improvements in line with stable revenue growth. LaSalle Investment Management has raised strong levels of capital through the first nine months of the year and remains strategically positioned as opportunities arise. The firm is encouraged by three solid quarters of performance and is well positioned to take advantage of the opportunities that will arise from recovering markets," a statement reads.