Newton-based REIT Senior Housing Properties Trust (SNH) has reported net income of $31.5 million for the quarter ended March 31, compared to net income of $23.3 million for the same period last year – a 35.2 percent increase.

Funds from operations (FFO) for the quarter were $52.1 million, compared to FFO of $38.3 million for the year prior.

In May 2008, the trust entered into a series of agreements to acquire 48 medical office, clinic and biotech laboratory buildings, from HRPT Properties Trust (HRP), an affiliate, for an aggregate purchase price of approximately $565 million.

To date, SNH has acquired 38 of these buildings for approximately $366 million, excluding closing costs. The remaining nine buildings are scheduled to close in 2010, the trust said.

Senior Housing Properties Trust is a real estate investment trust that owns 272 properties located in 34 states and Washington, D.C.