Three Months Ended

Years Ended December 31,

March 31, 2013

2012

2011

2010

2009

2008

Earnings:

Income (loss) from continuing operations before equity in (loss) income of unconsolidated entities and income taxes

$

9,112

$

7,570

$

(88,283

)

$

24,353

$

46,126

$

44,919

Gain on sales of real estate, excluding discontinued operations

2,354

21

2,732

2,840

—

1,682

Combined fixed charges and preferred share dividends (from below)

31,291

133,345

139,159

135,836

115,014

122,395

Amortization of capitalized interest

513

1,798

1,610

1,363

1,105

890

Distributed loss of equity investees

—

—

(31

)

—

—

(203

)

Subtract:

Capitalized interest (from below)

(2,440

)

(13,903

)

(17,400

)

(16,524

)

(15,461

)

(18,312

)

Preferred share dividends included in fixed charges

(6,106

)

(20,844

)

(16,102

)

(16,102

)

(16,102

)

(16,102

)

Preferred unit distributions included in fixed charges

(165

)

(676

)

(660

)

(660

)

(660

)

(660

)

Total earnings

$

34,559

$

107,311

$

21,025

$

131,106

$

130,022

$

134,609

Combined fixed charges and preferred share dividends:

Interest expense on continuing operations

$

22,307

$

94,624

$

98,222

$

95,729

$

76,718

$

79,542

Interest expense on discontinued operations

64

2,174

6,079

6,399

5,702

7,379

Capitalized interest (internal and external)

2,440

13,903

17,400

16,524

15,461

18,312

Amortization of debt issuance costs-capitalized

101

649

183

19

30

32

Interest included in rental expense

108

475

513

403

341

368

Preferred share dividends

6,106

20,844

16,102

16,102

16,102

16,102

Preferred unit distributions

165

676

660

660

660

660

Total combined fixed charges and preferred share dividends

$

31,291

$

133,345

$

139,159

$

135,836

$

115,014

$

122,395

Ratio of earnings to combined fixed charges and preferred share dividends

1.10

0.80

0.15

0.97

1.13

1.10

Deficiency

$

26,034

$

118,134

$

4,730