Jones Lang Lasalle, a major international commercial real estate firm with significant operations in Boston, today posted a $61 million loss for the first quarter.

The company said its overall revenues are down 12 percent for the first three months of 2009. It cited a "lack of significant transaction and incentive fees within the challenging operating environment."

Jones Lang said it took substantial writedowns, amounting to more than $17 million, in the first quarter for severance charges. It took another $29 million hit for "impairments" to its investment portfiolio.

Colin Dyer, chief executive office at Jones Lang, claimed this is "the weakest transaction market in memory." He said the company continues to "reduce costs aggressively."