Exhibit 12.1

Brandywine Realty Trust
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Distributions
(in thousands)

	For the years ended December 31,
	2007			2006			2005			2004			2003
Earnings before fixed charges:
Add:
Income (loss) from continuing operations (a)	$	28,761		$	(18,729	)	$	32,778		$	49,559		$	65,424
Minority interest attributable to continuing operations		1,376			(1,516	)		1,043			2,165			8,804
Fixed charges — per below		191,069			191,614			86,191			61,443			69,476
Less:
Capitalized interest		(17,476	)		(9,537	)		(9,603	)		(3,030	)		(1,503	)
Preferred Distributions of consolidated subsidiaries		—			—			—			(832	)		(7,069	)
Earnings before fixed charges	$	203,730		$	161,832		$	110,409		$	109,305		$	135,132
Fixed charges and Preferred Distributions:
Interest expense (including amortization)	$	167,171		$	175,784		$	73,918		$	54,610		$	57,835
Capitalized interest		17,476			9,537			9,603			3,030			1,503
Proportionate share of interest for unconsolidated real estate ventures		6,422			6,293			2,670			2,971			3,069
Distributions to preferred unitholders in Operating Partnership		—			—			—			832			7,069
Total Fixed Charges		191,069			191,614			86,191			61,443			69,476
Income allocated to preferred shareholders		7,992			7,992			7,992			9,720			11,906
Total Preferred Distributions		7,992			7,992			7,992			9,720			11,906
Total combined fixed charges and preferred distributions	$	199,061		$	199,606		$	94,183		$	71,163		$	81,382
Ratio of earnings to combined fixed charges and preferred distributions		1.02			(b	)		1.17			1.54			1.66

(a)	Amounts for the years ended December 31, 2007, 2006, 2005, 2004 and 2003 have been reclassified to present properties sold. As a result, operations have been reclassified to discontinued operations from continuing operations for all periods presented.
(b)	Due to the registrant’s loss in fiscal 2006, the coverage ratio was less than 1:1. The registrant must generate additional earnings of $37,774 to achieve a coverage of 1:1. The losses in fiscal 2006 included significant depreciation of operating real estate and amortization of lease intangibles resulting from recent acquisitions.