Pacific Office Properties Trust Inc. earned a $1.6 million profit in the three months ended June 30, dramatically reversing an $11.5 million net loss in the same period a year ago.

It was the second profit in three quarters for the Hono­lulu-based company, though the firm achieved the most recent gain by selling one of its office buildings, according to a financial report filed with the Securities and Exchange Commission on Friday.

Pacific Office sold the 11-story First Insurance Center on Ward Avenue for $70.5 million in June. After accounting for items including mortgage debt, the sale generated a $5.4 million gain that more than offset a $4.3 million loss from continuing operations, the report showed.

Pacific Office still owns four Hono­lulu properties by itself — Waterfront Plaza, Davies Pacific Center, the Pan Am Building and Clifford Center. It also owns partial stakes with partners in 16 other properties in California, Arizona and Hawaii, including the Bank of Hawaii Waikiki Center.

The company’s Hono­lulu portfolio of buildings was 84 percent leased as of June 30, while its whole portfolio was 78 percent leased.

Pacific Office was established in 2008 by Hawaii commercial real estate investor Jay Shidler with an aim to expand on a portfolio of Shidler office buildings through a publicly owned company with greater access to capital. But largely due to the economic and real estate market downturns in recent years, the company turned to selling whole or partial ownership stakes in a few buildings, and lost one building to foreclosure.

The company said it is presently trying to sell the Bank of Hawaii Waikiki Center. Pacific Office bought the nine-story building on leasehold land at 2155 Kalakaua Ave. with an institutional investment partner for about $30 million in May 2008 from Shidler.