Exhibit 12.1

KILROY REALTY CORPORATION

Statement of Computation of Ratio of Earnings to Fixed Charges

(in thousands, except ratios)

	Year Ended December 31,
	2010			2009			2008			2007			2006
Earnings:
Income from continuing operations	$	18,937		$	35,754		$	45,849		$	44,560		$	47,741
Plus Fixed Charges:
Interest expense (including amortization of loan costs)		59,941			46,119			45,346			40,762			43,541
Capitalized interest and loan costs		10,015			9,683			18,132			19,516			11,309
Estimate of interest within rental expense		997			871			871			871			871
Distributions on Cumulative Redeemable Preferred units		5,588			5,588			5,588			5,588			5,588
Fixed Charges		76,541			62,261			69,937			66,737			61,309
Plus: Amortization of capitalized interest(1)		4,348			4,067			3,669			3,132			2,691
Less: Capitalized interest and loan costs		(10,015	)		(9,683	)		(18,132	)		(19,516	)		(11,309	)
Less: Distributions on Cumulative Redeemable Preferred units		(5,588	)		(5,588	)		(5,588	)		(5,588	)		(5,588	)
Earnings	$	84,223		$	86,811		$	95,735		$	89,325		$	94,844
Combined Fixed Charges and Preferred Dividends:
Fixed Charges (from above)		76,541			62,261			69,937			66,737			61,309
Preferred Dividends		9,608			9,608			9,608			9,608			9,608
Combined Fixed Charges and Preferred Dividends		86,149		$	71,869		$	79,545		$	76,345		$	70,917
Consolidated ratio of earnings to fixed charges		1.10x			1.39x			1.37x			1.34x			1.55x
Consolidated ratio of earnings to combined fixed charges and preferred dividends		0.98x			1.21x			1.20x			1.17x			1.34x
Deficiency	$	1,926

(1) Amount represents an estimate of capitalized interest that has been amortized each year based on our established depreciation policy and an analysis of total interest costs and loan costs capitalized since 1997.

We have computed the ratio of earnings to fixed charges by dividing earnings by fixed charges. Earnings consist of income from continuing operations before the effect of noncontrolling interest plus fixed charges and amortization of capitalized interest, reduced by capitalized interest and loan costs and distributions on Series A cumulative redeemable preferred units. Fixed charges consist of interest costs, whether expensed or capitalized, amortization of loan costs, an estimate of the interest within rental expense, and distributions on cumulative redeemable preferred units.

We have computed the consolidated ratio of earnings to combined fixed charges and preferred dividends by dividing earnings by combined fixed charges and preferred dividends. Earnings consist of income from continuing operations before the effect of noncontrolling interest plus fixed charges and amortization of capitalized interest, reduced by capitalized interest and loan costs and distributions on Series A cumulative redeemable preferred units. Fixed charges consist of interest costs, whether expensed or capitalized, amortization of loan costs, an estimate of the interest within rental expense, and distributions on Series A cumulative redeemable preferred units.