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Exhibit 12

Simon Property Group, L.P. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(in thousands)

			For the year ended December 31,
			2007			2006			2005			2004			2003
Earnings:
	Pre-tax income from continuing operations		$	650,380		$	730,453		$	473,557		$	466,128		$	441,560
	Add:
		Pre-tax income (loss) from 50% or greater than 50% owned unconsolidated entities		(9,061	)		45,313			49,939			46,124			60,614
		Minority interest in income of majority owned subsidiaries		13,936			11,524			13,743			9,687			7,277
		Distributed income from less than 50% owned unconsolidated entities		51,594			53,000			66,165			45,909			42,939
		Amortization of capitalized interest		2,462			5,027			2,772			2,525			1,845
	Fixed Charges			1,196,718			958,818			904,324			748,643			684,226
	Less:
		Income from unconsolidated entities		(38,120	)		(110,819	)		(81,807	)		(81,113	)		(101,093	)
		Interest capitalization		(37,270	)		(34,073	)		(15,502	)		(15,546	)		(10,916	)
Earnings			$	1,830,638		$	1,659,243		$	1,413,191		$	1,222,357		$	1,126,452
Fixed Charges:
	Portion of rents representative of the interest factor			9,032			9,052			8,869			7,077			5,489
	Interest on indebtedness (including amortization of debt expense)			1,150,416			915,693			879,953			726,020			667,821
	Interest capitalized			37,270			34,073			15,502			15,546			10,916
Fixed Charges			$	1,196,718		$	958,818		$	904,324		$	748,643		$	684,226
Ratio of Earnings to Fixed Charges				1.53	x		1.73	x		1.56	x		1.63	x		1.65	x

            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

Simon Property Group, L.P. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (in thousands)