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Exhibit 12

Statement re: Calculation of Ratios of Earnings to
Combined Fixed Charges and Preferred Unit Distributions
(Dollars in thousands)

		Six Months Ended June 30, 2003			Year Ended December 31, 2002			Year Ended December 31, 2001			Year Ended December 31, 2000			Year Ended December 31, 1999			Year Ended December 31, 1998
Net income from continuing operations less preferred distributions		$	77,002		$	176,130		$	257,914		$	243,841		$	159,447		$	103,112
Preferred distributions			20,308			52,613			60,850			57,389			46,808			19,833
Earnings from land and depreciated property dispositions			(11,146	)		(2,340	)		(45,708	)		(60,692	)		(10,012	)		(1,351	)
Interest expense			67,377			116,570			111,419			131,048			86,757			60,217
	Earnings before fixed charges		153,541			342,973			384,475			371,586			283,000			181,811
Interest expense			67,377			116,570			111,419			131,048			86,757			60,217
Preferred distributions			20,308			52,613			60,850			57,389			46,808			19,833
Interest costs capitalized			3,306			13,529			25,859			32,980			26,017			8,546
	Total fixed charges		90,991			182,712			198,128			221,417			159,582			88,596
Ratio of Earnings to Fixed Charges			2.17			2.64			2.80			2.27			2.51			2.64
Ratio of Earnings to Combined Fixed Charges and Preferred Distributions			1.69			1.88			1.94			1.68			1.77			2.05

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Exhibit 12