Ventas (VTR) 8-K Other Events

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

	For the year ended December 31,
(dollars in thousands)	2008		2007		2006		2005		2004
Income before net loss on real estate disposals, reversal of contingent liability, income taxes, discontinued operations, noncontrolling interest and preferred stock dividends and issuance costs	$	138,951	$	110,431	$	117,695	$	114,373	$	88,506
Interest expense
Senior notes payable and other debt		204,549		196,773		127,398		92,204		55,949
Earnings	$	343,500	$	307,204	$	245,093	$	206,577	$	144,455
Interest
Senior notes payable and other debt expense	$	204,549	$	196,773	$	127,398	$	92,204	$	55,949
Interest capitalized		114		—		—		—		—
Preferred stock dividends		—		3,449		—		—		—
Fixed charges	$	204,663	$	200,222	$	127,398	$	92,204	$	55,949
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		1.68		1.53		1.92		2.24		2.58