Mactaggart Heritable Holdings saw pre-tax profits rise 69% from £3.36m to £5.67m in 2012, according to accounts filed at Companies House.
Although group turnover grew from £7.1m to £15.2m, operating profit slid from £5.8m to £2.76m while interest and financing costs went from £3.2m to £3.7m.
However, the gains made from investment sales helped to keep the business comfortably in the black.
The company, which has its registered office in Glasgow and is chaired by Sir John Mactaggart, rents out high-end commercial properties mostly in London and New York and also operates some English hotels under the Nadler brand.
Directors' remuneration increased from £889,000 to £896,000, with the highest paid receiving £326,000.
There were £2.1m in dividends paid in the year, against £2m in 2011.