EXHIBIT 12.1

HUDSON PACIFIC PROPERTIES

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED DIVIDENDS

(Unaudited; in thousands, except ratios)

	Historical Consolidated Nine Months Ended September 30, 2014			Historical Consolidated												Historical Combined
				For the year ended December 31,												December 31,
				2013			2012			2011			2010			2009
Earnings Available for Fixed Charges and Preferred Dividends:
Net income (loss)	$	22,637		$	(2,594	)	$	(5,006	)	$	(2,238	)	$	(2,682	)	$	(644	)
Plus fixed charges:
Interest expense (including amortization of loan fees)	$	19,519		$	25,470		$	19,071		$	17,480		$	8,831		$	8,774
Capitalized interest and loan fees		5,236			4,562			1,461			189			165			544
Estimate of interest within rental expense		131			144			153			124			46			16
Fixed Charges	$	24,886		$	30,176		$	20,685		$	17,793		$	9,042		$	9,334
Plus:
Amortization of capitalized interest	$	232		$	115		$	73		$	73		$	73		$	55
Less:
Capitalized interest and loan fees		(5,236	)		(4,562	)		(1,461	)		(189	)		(165	)		(544	)
Earnings	$	42,519		$	23,135		$	14,291		$	15,439		$	6,268		$	8.201
Combined Fixed Charges and Preferred Dividends:
Fixed charges (from above)	$	24,886		$	30,176		$	20,685		$	17,793		$	9,042		$	9,334
Preferred dividends		9,590			12,893			12,924			8,108			817			—
Combined fixed charges and preferred dividends:	$	34,476		$	43,069		$	33,609		$	25,901		$	9,859		$	9,334
Ratio of earnings to combined fixed charges and preferred dividends		1.23			0.54			0.43			0.60			0.64			0.88
Deficiency	$	—		$	19,934		$	19,318		$	10,462		$	3,591		$	1,133