CBRE Clarion REI Holding S-3ASR Automatic shelf registration

EXHIBIT 12

CB RICHARD ELLIS GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

	Nine  Months Ended September 30, 2011		Year Ended December 31,
			2010			2009			2008			2007		2006
Income (loss) from continuing operations before provision for income taxes	$	279,507	$	272,057		$	(645	)	$	(1,025,679	)	$	592,389	$	523,017
Less: Equity income (loss) from unconsolidated subsidiaries		38,961		26,561			(34,095	)		(80,130	)		64,939		33,300
Income (loss) from continuing operations attributable to non-controlling interests		3,076		(49,777	)		(60,979	)		(54,198	)		11,875		6,120
Add: Distributed earnings of unconsolidated subsidiaries		15,441		33,874			13,509			23,867			117,196		29,384
Fixed charges		154,266		272,301			278,379			236,533			220,213		120,963
Total earnings (loss) before fixed charges	$	407,177	$	601,448		$	386,317		$	(630,951	)	$	852,984	$	633,944
Fixed charges:
Portion of rent expense representative of the interest factor(1)	$	47,252	$	63,002		$	59,978		$	69,377		$	57,222	$	42,109
Interest expense		107,014		191,151			189,146			167,156			162,991		45,007
Write-off of financing costs		—		18,148			29,255			—			—		33,847
Total fixed charges	$	154,266	$	272,301		$	278,379		$	236,533		$	220,213	$	120,963
Ratio of earnings to fixed charges		2.64		2.21			1.39			N/A	(2)		3.87		5.24

(1) Represents one-third of operating lease costs, which approximates the portion that relates to the interest portion.

(2) The ratio of earnings to fixed charges was negative for the year ended December 31, 2008. Additional earnings of $867.5 million would be needed to have a one-to-one ratio of earnings to fixed charges.