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PITTSBURGH-HFF Inc. saw total revenue for the third quarter reach $68 million, up 23.8% compared with the same quarter of 2006. This is the locally based commercial real estate financial intermediary's third quarter as a public company.

The revenue jump was attributed to an increase in production volumes in each of the company's capital markets service platforms. They include debt placement, investment sales, structured finance, note sales and note sale advisory service, private equity, discretionary fund business and loan servicing. The company's operating income of $13.6 million for the quarter declined 3.9%, compared with the same time a year ago, and Ebitda was $16.8 million, a 12.1% increase.

This performance occurred in the face of a "very challenging domestic and global capital market situation," said John Pelusi, CEO, during a conference call in which he characterized current market conditions as "a healthy correction--long overdue, but painful. At no time, did the credit markets shut down," he added.