EXHIBIT 12.1

SUMMIT PROPERTIES PARTNERSHIP, L.P.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
NINE MONTHS ENDED SEPTEMBER 30, 2001
(DOLLARS IN THOUSANDS)



                                                                                                         
Earnings:

         Net Income before extraordinary items .....................................................        $48,954
       Interest:
          Expense incurred .........................................................................         30,089
          Amortization of deferred financing costs .................................................          1,079
          Rental fixed charges .....................................................................            254
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          Total ....................................................................................        $80,376
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Fixed charges:
       Interest expense ............................................................................        $30,089
       Interest capitalized ........................................................................          9,035
       Distributions to preferred unitholders in Operating Partnership .............................          9,315
       Rental fixed charges ........................................................................            254
       Amortization of deferred financing costs ....................................................          1,079
                                                                                                            -------

          Total ....................................................................................        $49,772
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Ratio of earnings to fixed charges .................................................................           1.61
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