EXHIBIT 12.2

Kite Realty Group, L.P. and subsidiaries

Calculation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

($ in thousands, except ratios)		Years ended December 31
		2016			2015		2014			2013			2012
Earnings:
Net (loss) income from continuing operations		$	(1,137	)	$	25,249	$	(16,452	)	$	(726	)	$	(11,455	)
Add:
	Income taxes expense (benefit)	814			186		24			262			(106		)
	Fixed charges, net of capitalized interest	65,669			56,488		45,549			28,026			23,423
Earnings before fixed charges and preferred dividends		$	65,346		$	81,923	$	29,121		$	27,562		$	11,862
Fixed charges:
	Interest expense	$	65,577		$	56,432	$	45,513		$	27,994		$	23,392
	Capitalized interest	4,061			4,633		4,789			5,081			7,444
	Interest within rental expense	92			56		36			33			31
Total fixed charges		69,730			61,121		50,338			33,108			30,867
	Preferred dividends	—			7,877		8,456			8,456			7,920
Total fixed charges and preferred dividends		$	69,730		$	68,998	$	58,794		$	41,564		$	38,787
Ratio of earnings to fixed charges and preferred dividends		(1)			1.19		(2)			(3)			(4)

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1	The ratio is less than 1.0; the amount of coverage deficiency for the year ended December 31, 2016 was $4.4 million. The calculation of earnings includes $174.6 million of non-cash depreciation expense.
2	The ratio is less than 1.0; the amount of coverage deficiency for the year ended December 31, 2014 was $29.7 million. The calculation of earnings includes $121.0 million of non-cash depreciation expense.
3	The ratio is less than 1.0; the amount of coverage deficiency for the year ended December 31, 2013 was $14.0 million. The calculation of earnings includes $54.5 million of non-cash depreciation expense.
4	The ratio is less than 1.0; the amount of coverage deficiency for the year ended December 31, 2012 was $26.9 million. The calculation of earnings includes $38.8 million of non-cash depreciation expense.