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Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(Numbers in Thousands)

	Six months ended June 30, 2014		For the year ended December 31,
			2013		2012		2011		2010		2009
Net Income	$	87,217	$	185,556	$	127,689	$	58,423	$	33,374	$	39,093
Minority interest—preferred operating, operating partnership and other		8,212		13,480		10,380		7,974		7,043		7,116
Distribution from real estate ventures in excess of earnings		3,427		4,838		2,581		7,008		6,722		5,968
Fixed charges less capitalized interest		41,859		73,590		72,816		69,553		66,159		70,213
Current period amortization of interest capitalized in prior periods		259		518		518		499		447		341
Earnings for ratio	$	140,974	$	277,982	$	213,984	$	143,457	$	113,746	$	122,731
Fixed Charges:
Interest (1)		41,581		73,034		72,294		69,062		65,780		69,818
Capitalized Interest		—		—		—		752		2,013		4,148
Estimated interest component of rent		278		556		522		491		379		395
Total fixed charges	$	41,859	$	73,590	$	72,816	$	70,305	$	68,172	$	74,361
Ratio of Earnings to Fixed Charge		3.37		3.78		2.94		2.04		1.67		1.65

(1)

Interest includes the amortization of debt issuance costs.

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Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges (Numbers in Thousands)