EXHIBIT 12

CBRE GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

	Year Ended December 31,
	2015		2014		2013		2012			2011
Income from continuing operations before provision for income taxes	$	879,730	$	777,262	$	508,985	$	489,478		$	429,538
Less: Equity income from unconsolidated subsidiaries		162,849		101,714		64,422		60,729			104,776
Income (loss) from continuing operations attributable to non-controlling interests		11,745		29,000		7,569		(9,697	)		6,918
Add: Distributed earnings of unconsolidated subsidiaries		36,630		27,903		33,302		20,199			20,794
Fixed charges		198,996		209,839		260,327		245,322			219,964
Total earnings before fixed charges	$	940,762	$	884,290	$	730,623	$	703,967		$	558,602
Fixed charges:
Portion of rent expense representative of the interest factor (1)	$	77,431	$	74,717	$	68,950	$	70,254		$	69,715
Interest expense		118,880		112,035		135,082		175,068			150,249
Write-off of financing costs on extinguished debt		2,685		23,087		56,295		—			—
Total fixed charges	$	198,996	$	209,839	$	260,327	$	245,322		$	219,964
Ratio of earnings to fixed charges		4.73		4.21		2.81		2.87			2.54

(1) Represents one-third of operating lease costs, which approximates the portion that relates to interest.