Brixmor Operating Partnership S-3ASR Automatic shelf registration

Exhibit 12.1

BRIXMOR PROPERTY GROUP INC. AND SUBSIDIARIES

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES AND CONSOLIDATED RATIO OF EARNINGS TO

COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(dollars in thousands)

	Predecessor									Successor
	Year Ended December 31,						Period from January 1, 2011 through June 27,			Period from June 28, 2011 through December 31,		Year Ended December 31,						Nine Months Ended September 30,
	2009			2010			2011			2011		2012			2013			2014
Earnings:
Income (loss) before equity in income of unconsolidated joint ventures	$	(107,446	)	$	(274,680	)	$	(40,121	)	$	159,058	$	(150,418	)	$	(81,824	)	$	85,621
Interest expense, net of amortization of premium/discount		363,265			358,725			187,205			200,625		377,070			339,044			193,015
Amortization of deferred financing fees		19,045			19,345			5,166			4,812		10,272			10,831			6,708
Distributed income of equity investees		581			548			390			152		451			409			187
Portion of rent expense representative of interest		448			465			206			226		445			443			318
Total Earnings	$	275,893		$	104,403		$	152,846		$	364,873	$	237,820		$	268,903		$	285,849
Fixed Charges:
Interest expense, net of amortization of premium/discount	$	363,265		$	358,725		$	187,205		$	200,625	$	377,070		$	339,044		$	193,015
Capitalized interest		6,084			660			254			293		1,661			4,968			2,776
Amortization of deferred financing fees		19,045			19,345			5,166			4,812		10,272			10,831			6,708
Portion of rent expense representative of interest		448			465			206			226		445			443			318
Total fixed charges (1)	$	388,842		$	379,195		$	192,831		$	205,956	$	389,448		$	355,286		$	202,817
Preferred stock dividends		—			—			137			137		296			162			—
Total combined fixed charges and preferred stock dividends(2)	$	388,842		$	379,195		$	192,968		$	206,093	$	389,744		$	355,448		$	202,817
Ratio of Earnings to Fixed Charges		—			—			—			1.8		—			—			1.4
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		—			—			—			1.8		—			—			1.4

(1) For the years ended December 31, 2009, 2010, the period from January 1, 2011 through June 27, 2011 and the years ended December 31, 2012 and 2013 fixed charges exceeded earnings by $112,949, $274,792, $39,985, $151,628 and $86,383, respectively.

(2) For the years ended December 31, 2009, 2010, the period from January 1, 2011 through June 27, 2011 and the years ended December 31, 2012 and 2013 combined fixed charges and preferred stock dividends exceeded earnings by $112,949, $274,792, $40,122, $151,924 and $86,545, respectively.

BRIXMOR OPERATING PARTNERSHIP LP AND SUBSIDIARIES

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

	Predecessor									Successor
	Year Ended December 31,						Period from January 1, 2011 through June 27,			Period from June 28, 2011 through December 31,			Year Ended December 31,						Nine Months Ended September 30,
	2009			2010			2011			2011			2012			2013			2014
Earnings:
Income (loss) before equity in income of unconsolidated joint ventures	$	(107,446	)	$	(274,680	)	$	(40,121	)	$	(128,377	)	$	(149,894	)	$	(81,818	)	$	85,616
Interest expense, net of amortization of premium/discount		363,265			358,725			187,205			200,625			377,070			339,044			193,015
Amortization of deferred financing fees		19,045			19,345			5,166			4,812			10,272			10,831			6,708
Distributed income of equity investees		581			548			390			152			451			409			187
Portion of rent expense representative of interest		448			465			206			226			445			443			318
Total Earnings	$	275,893		$	104,403		$	152,846		$	77,438		$	238,344		$	268,909		$	285,844
Fixed Charges:
Interest expense, net of amortization of premium/discount	$	363,265		$	358,725		$	187,205		$	200,625		$	377,070		$	339,044		$	193,015
Capitalized interest		6,084			660			254			293			1,661			4,968			2,776
Amortization of deferred financing fees		19,045			19,345			5,166			4,812			10,272			10,831			6,708
Portion of rent expense representative of interest		448			465			206			226			445			443			318
Total fixed charges (1)	$	388,842		$	379,195		$	192,831		$	205,956		$	389,448		$	355,286		$	202,817
	$	112,949		$	274,792		$	39,985		$	128,518		$	151,104		$	86,377		$	(83,027	)
Ratio of Earnings to Fixed Charges		—			—			—			—			—			—			1.4

(1) For the years ended December 31, 2009, 2010, the period from January 1, 2011 through June 27, 2011, the period from June 28, 2011 through December 31, 2011 and the years ended December 31, 2012 and 2013 fixed charges exceeded earnings by $112,949, $274,792, $39,985, $128,518, $151,104 and $86,377, respectively.