Exhibit 12.1

DDR Corp.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in Thousands)

	Year Ended December 31,															Quarter Ended March 31,
	2012			2013			2014			2015			2016			2016			2017
Pretax income (loss) from continuing operations	$	35,166		$	24,571		$	26,022		$	(64,024	)	$	62,980		$	46,331		$	(53,805	)
Fixed charges:
Interest expense including amortization of deferred costs and capitalized interest	$	236,716		$	242,614		$	255,744		$	248,399		$	220,648		$	59,141		$	52,225
Appropriate portion of rentals representative of the interest factor		1,405			1,338			1,278			1,151			943			274			125
Total fixed charges	$	238,121		$	243,952		$	257,022		$	249,550		$	221,591		$	59,415		$	52,350
Capitalized interest during the period		(13,327	)		(8,789	)		(8,678	)		(6,672	)		(3,059	)		(1,244	)		(398	)
Amortization of capitalized interest during the period		8,722			9,015			9,304			9,526			9,628			2,392			2,410
Equity Company Adjustments		(35,250	)		(6,819	)		(10,989	)		3,135			(15,699	)		(14,421	)		1,665
Equity Company Adjustments Distributed Income		13,165			15,116			10,749			8,382			8,210			1,724			1,806
Earnings before income taxes and fixed charges	$	246,597		$	277,046		$	283,430		$	199,897		$	283,651		$	94,197		$	4,028
Ratio of earnings to fixed charges		1.0			1.1			1.1			(a	)		1.3			1.6			(b	)

(a) Due to the pretax loss from continuing operations for the year ended December 31, 2015, the ratio coverage was less than 1:1. We would have needed to generate additional earnings of $49.7 million to achieve a coverage of 1:1. The pretax loss from continuing operations for the year ended December 31, 2015 included consolidated impairment charges of $279.0 million and impairment charges of joint venture investments of $1.9 million, which together aggregated $280.9 million that are discussed in our Annual Report on Form 10-K for the year ended December 31, 2016.

(b) Due to the pretax loss from continuing operations for the quarter ended March 31, 2017, the ratio coverage was less than 1:1. We would have needed to generate additional earnings of $48.3 million to achieve a coverage of 1:1. The pretax loss from continuing operations for the quarter ended March 31, 2017, included consolidated impairment charges of $22.0 million and a reserve of preferred equity interests of $76.0 million, which together aggregated $98.0 million that are discussed in our Quarterly Report on Form 10-Q for the three months ended March 31, 2017.