Exhibit 12.2

HRPT PROPERTIES TRUST

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS

(dollars in thousands)

	Three Months Ended March 31,							Year Ended December 31,
	2004				2003			2003			2002			2001			2000			1999
Earnings:
Income before equity in earnings (loss) of equity investments	$		25,730		$	23,004		$	90,921		$	88,923		$	87,510		$	108,992		$	116,638
Fixed charges before preferred distributions	26,225				25,079			101,144			89,417			91,305			104,337			91,420
Distributions from equity investments	6,851				6,851			27,404			27,195			26,651			30,294			18,606
Capitalized interest	—				—			—			(3,057		)	(787		)	(1,680		)	(1,488		)
Adjusted Earnings	$	58,806			$	54,934		$	219,469		$	202,478		$	204,679		$	241,943		$	225,176
Fixed Charges and Preferred Distributions:
Interest expense (including amortization of note discounts and deferred financing fees)	$	26,225			$	25,079		$	101,144		$	86,360		$	90,518		$	102,657		$	89,932
Capitalized interest	—				—			—			3,057			787			1,680			1,488
Preferred distributions	11,500				11,500			46,000			27,625			16,842			—			—
Combined Fixed Charges and Preferred Distributions	$	37,725			$	36,579		$	147,144		$	117,042		$	108,147		$	104,337		$	91,420
Ratio of Earnings to Combined Fixed Charges and Preferred Distributions	1.6			x	1.5		x	1.5		x	1.7		x	1.9		x	2.3		x	2.5		x