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Exhibit 12

SIMON PROPERTY GROUP, L.P.
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(in thousands)

			For the Year Ended December 31,
			2006			2005			2004			2003			2002
Earnings:
	Pre-tax income from continuing operations		$	730,453		$	473,557		$	466,128		$	441,560		$	527,888
	Add:
		Pre-tax income from 50% or greater than 50% owned unconsolidated entities		45,313			49,939			46,124			60,614			46,633
		Minority interest in income of majority owned subsidiaries		11,524			13,743			9,687			7,277			10,498
		Distributed income from less than 50% owned unconsolidated entities		53,000			66,165			45,909			42,939			37,811
		Amortization of capitalized interest		5,027			2,772			2,533			1,845			1,872
Fixed Charges				958,818			904,324			748,643			684,226			673,562
Less:
		Income from unconsolidated entities		(110,819	)		(81,807	)		(81,113	)		(101,093	)		(77,389	)
		Interest capitalization		(34,073	)		(15,502	)		(15,546	)		(10,916	)		(5,507	)
Earnings			$	1,659,243		$	1,413,191		$	1,222,357		$	1,126,452		$	1,215,368
Fixed Charges:
	Portion of rents representative of the interest factor			9,052			8,869			7,077			5,489			4,236
	Interest on indebtedness (including amortization of debt expense)			915,693			879,953			726,020			667,821			663,819
	Interest capitalized			34,073			15,502			15,546			10,916			5,507
Fixed Charges			$	958,818		$	904,324		$	748,643		$	684,226		$	673,562
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends				1.73x			1.56x			1.63x			1.65x			1.80x

            For purposes of calculating the ratio of earnings to fixed charges, "earnings" have been computed by adding fixed charges, excluding capitalized interest, to pre-tax income from continuing operations including income from minority interests and our share of pre-tax income from 50%, or greater than 50%, owned unconsolidated entities which have fixed charges, and including distributed operating income from less than 50% owned unconsolidated joint ventures instead of income from the less than 50% owned unconsolidated joint ventures. There are generally no restrictions on our ability to receive distributions from our joint ventures where no preference in favor of the other owners of the joint venture exists. "Fixed charges" consist of interest costs, whether expensed or capitalized, the interest component of rental expenses, preferred distributions, and amortization of debt issue costs.

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Exhibit 12