Regency Centers 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

Regency Centers Corporation

Ratio of Earnings to Fixed Charges

(amounts in thousands)

	Six months ended					Year Ended
	6/30/2010			6/30/2009		2009		2008		2007		2006		2005
Fixed Coverage Ratio:
Continuing operations (before equity in income (loss) of investments in real estate partnerships and noncontrolling interests)	$	26,667		32,039		(12,266	)	114,278		157,920		158,744		91,347
Add (subtract): Tax (benefit) expense		81		(190	)	1,869		(1,600	)	4,197		11,772		(536	)
Less: Non controlling interests (without own fixed charges)		(34	)	(44	)	(59	)	(41	)	(869	)	(4,752	)	(83	)
Add: Distributions from operations JV’s		21,694		17,790		31,252		30,730		30,547		28,788		28,661
Add: Distributions from investment JV’s		79,600		2,986		23,548		28,923		41,372		13,452		30,918
Add: Fixed charge		79,425		89,423		174,530		193,901		179,716		154,884		137,865
Subtract: Preferred stock dividend		(9,838	)	(9,838	)	(19,675	)	(19,675	)	(19,675	)	(19,675	)	(16,744	)
Subtract: Preferred unit distribution		(1,862	)	(1,862	)	(3,725	)	(3,725	)	(3,725	)	(3,725	)	(8,105	)
Subtract: Capitalized interest		(3,323	)	(11,918	)	(19,062	)	(36,511	)	(35,424	)	(23,952	)	(12,400	)
Earnings	$	192,410		118,386		176,412		306,280		354,059		315,536		250,923
Fixed Charge Data:
Preferred stock dividend	$	9,838		9,838		19,675		19,675		19,675		19,675		16,744
Preferred unit distribution		1,862		1,862		3,725		3,725		3,725		3,725		8,105
Interest expense		64,402		65,805		132,068		133,990		120,892		107,532		100,616
Capitalized interest		3,323		11,918		19,062		36,511		35,424		23,952		12,400
Total fixed charge	$	79,425		89,423		174,530		193,901		179,716		154,884		137,865
Ratio of earnings to fixed charges		2.4		1.3		1.0		1.6		2.0		2.0		1.8

Regency Centers, L.P.

Ratio of Earnings to Fixed Charges

(amounts in thousands)

	Six months ended					Year Ended
	6/30/2010			6/30/2009		2009		2008		2007		2006		2005
Fixed Coverage Ratio:
Continuing operations (before equity in income (loss) of investments in real estate partnerships and noncontrolling interests)	$	26,667		32,039		(12,266	)	114,278		157,920		158,744		91,347
Add (subtract): Tax (benefit) expense		81		(190	)	1,869		(1,600	)	4,197		11,772		(536	)
Less: Non controlling interests (without own fixed charges)		(34	)	(44	)	(59	)	(41	)	(869	)	(4,752	)	(83	)
Add: Distributions from operations JV’s		21,694		17,790		31,252		30,730		30,547		28,788		28,661
Add: Distributions from investment JV’s		79,600		2,986		23,548		28,923		41,372		13,452		30,918
Add: Fixed charge		79,425		89,423		174,530		193,901		179,716		154,884		137,865
Subtract: Preferred unit distribution		(11,700	)	(11,700	)	(23,400	)	(23,400	)	(23,400	)	(23,400	)	(24,849	)
Subtract: Capitalized interest		(3,323	)	(11,918	)	(19,062	)	(36,511	)	(35,424	)	(23,952	)	(12,400	)
Earnings	$	192,410		118,386		176,412		306,280		354,059		315,536		250,923
Fixed Charge Data:
Preferred unit distribution	$	11,700		11,700		23,400		23,400		23,400		23,400		24,849
Interest expense		64,402		65,805		132,068		133,990		120,892		107,532		100,616
Capitalized interest		3,323		11,918		19,062		36,511		35,424		23,952		12,400
Total fixed charge	$	79,425		89,423		174,530		193,901		179,716		154,884		137,865
Ratio of earnings to fixed charges		2.4		1.3		1.0		1.6		2.0		2.0		1.8