Exhibit 12.2

COMMONWEALTH REIT

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

(dollars in thousands)

	Three Months Ended
	March 31,						Year Ended December 31,
	2012			2011			2011			2010			2009			2008		2007
Earnings:
Income (loss) from continuing operations before income tax expense	$	25,066		$	10,475		$	63,156		$	(60,596	)	$	68,085		$	61,348	$	72,256
Equity in earnings and gains on equity transactions of investees	(2,958		)	(2,712		)	(22,554		)	(43,272		)	(6,546		)	—		—
Fixed charges before preferred distributions	49,106			47,414			195,024			183,433			173,458			180,553		172,060
Distributions from investees	4,179			4,080			16,617			16,119			4,975			—		—
Capitalized interest	—			—			—			—			—			—		(489		)
Adjusted Earnings	$	75,393		$	59,257		$	252,243		$	95,684		$	239,972		$	241,901	$	243,827
Fixed Charges and Preferred Distributions:
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees)	$	49,106		$	47,414		$	195,024		$	183,433		$	173,458		$	180,553	$	171,571
Capitalized interest	—			—			—			—			—			—		489
Preferred distributions	13,823			8,839			46,985			47,733			50,668			50,668		60,572
Combined Fixed Charges and Preferred Distributions	$	62,929		$	56,253		$	242,009		$	231,166		$	224,126		$	231,221	$	232,632
Ratio of Earnings to Combined Fixed Charges and Preferred Distributions	1.2x			1.1x			1.0x			0.4x		(1)	1.1x			1.0x		1.0x

(1) The deficiency for this period was $135,482 and reflects a loss on asset impairment of $127,740.