Exhibit 12.1

Nationwide Health Properties

Earnings to Fixed Charges

Excluding Preferred Dividends	6 months Q2 2005		2004		2003		2002		2001		2000
Fixed Charges
Interest Expense	31,620		55,709		56,519		54,987		54,846		58,391
Capitalized Interest	—		365		768		554		613		1,245
Total Fixed Charges	31,620		56,074		57,287		55,541		55,459		59,636
Earnings
Income from Continuing Operations	40,038		71,299		55,616		40,817		58,865		66,345
Less: Income from Unconsolidated Joint Venture	(689	)	(1,953	)	(1,928	)	(1,187	)
Fixed Charges	31,620		56,074		57,287		55,541		55,459		59,636
Add: Distributed Income from Unconsolidated Joint Venture	689		1,953		1,928		1,187
Less: Capitalized Interest	—		(365	)	(768	)	(554	)	(613	)	(1,245	)
Total Earnings	71,658		127,008		112,135		95,804		113,711		124,736
Ratio of Earnings to Fixed Charges	2.27		2.27		1.96		1.72		2.05		2.09
Including Preferred Dividends	6 months Q2 2005		2004		2003		2002		2001		2000
Fixed Charges plus Preferred
Interest Expense	31,620		55,709		56,519		54,987		54,846		58,391
Capitalized Interest	—		365		768		554		613		1,245
Preferred Dividends	7,963		11,802		7,677		7,677		7,677		7,677
Total Fixed Charges plus Preferred	39,583		67,876		64,964		63,218		63,136		67,313
Earnings
Income from Continuing Operations	40,038		71,299		55,616		40,817		58,865		66,345
Less: Income from Unconsolidated Joint Venture	(689	)	(1,953	)	(1,928	)	(1,187	)
Fixed Charges	39,583		67,876		64,964		63,218		63,136		67,313
Add: Distributed Income from Unconsolidated Joint Venture	689		1,953		1,928		1,187
Less: Capitalized Interest	—		(365	)	(768	)	(554	)	(613	)	(1,245	)
Less: Preferred Dividends	(7,963	)	(11,802	)	(7,677	)	(7,677	)	(7,677	)	(7,677	)
Total Earnings	71,658		127,008		112,135		95,804		113,711		124,736
Ratio of Earnings to Fixed Charges plus Preferred	1.81		1.87		1.73		1.52		1.80		1.85