General Growth Properties Inc., whose many shopping malls include Jordan Creek Town Center in West Des Moines, said net income for the quarter ended Sept. 30 was $252.1 million, compared with a loss of $231.2 million a year ago.

Core funds from operations rose to 23 cents per share. Analysts had predicted an increase to 22 cents per share, Reuters reported.

Tenant sales increased 7.8 percent to $471 a square foot compared with the same period last year and have increased for seven consecutive quarters, the company said in releasing its quarterly results.

General Growth’s regional malls were 92.7 percent leased, an increase of 40 basis points from September 2010, and initial rents increased 6.7 percent to $63.71 a square foot compared with expiring rents on comparable leases.

So far this year, General Growth has completed nearly $4.2 billion of new property level non-recourse financings with a weighted average term of 10.1 years and an interest rate of 5.06 percent. The mortgages replace $3.6 billion of financings that had a weighted average term of 2.2 years and an interest rate of 5.83 percent.

General Growth emerged from a bankruptcy reorganization in November 2010 after sorting through more than $15 billion in debt. The company also sold spotlight properties, including Faneuil Hall Marketplace in Boston for $140 million.

To date, the company has sold 14 properties for total proceeds of $662 million, eliminating about $163 million of mortgage debt. General Growth also has acquired properties in St. Louis and Las Vegas.