EXHIBIT 12.2

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES

Ratio of Earnings to Fixed Charges and Preferred Unit Distributions

(in thousands, except ratios)

			12 Months Ended December 31,
	2010		2009		2008		2007		2006
Earnings:
Income before equity in earnings (losses) of unconsolidated joint ventures and discontinued operations (1)	$	38,806	$	74,221	$	28,729	$	28,535	$	26,775
Add:
Distributed income of unconsolidated joint ventures	653		660		2,366		1,706		906
Amortization of capitalized interest	492		474		465		413		360
Interest expense	41,789		37,684		49,628		42,599		40,793
Portion of rent expense - interest factor	1,753		1,743		1,168		1,078		986
Total earnings	83,493		114,782		82,356		74,331		69,820
Fixed charges:
Interest expense	41,789		37,684		49,628		42,599		40,793
Capitalized interest and capitalized amortization of debt issue costs	1,527		310		1,811		1,857		2,327
Portion of rent expense - interest factor	1,753		1,743		1,168		1,078		986
Total fixed charges	$	45,069	$	39,737	$	52,607	$	45,534	$	44,106
Ratio of earnings to fixed charges	1.9		2.9		1.6		1.6		1.6
Earnings:
Income before equity in earnings (losses) of unconsolidated joint ventures and discontinued operations (1)	$	38,806	$	74,221	$	28,729	$	28,535	$	26,775
Add:
Distributed income of unconsolidated joint ventures	653		660		2,366		1,706		906
Amortization of capitalized interest	492		474		465		413		360
Interest expense	41,789		37,684		49,628		42,599		40,793
Portion of rent expense - interest factor	1,753		1,743		1,168		1,078		986
Total earnings	83,493		114,782		82,356		74,331		69,820
Fixed charges and preferred unit distributions:
Interest expense	41,789		37,684		49,628		42,599		40,793
Capitalized interest and capitalized amortization of debt issue costs	1,527		310		1,811		1,857		2,327
Portion of rent expense - interest factor	1,753		1,743		1,168		1,078		986
Preferred unit distributions	5,297		5,625		5,625		5,625		5,433
Total combined fixed charges and preferred unit distributions	$	50,366	$	45,362	$	58,232	$	51,159	$	49,539
Ratio of earnings to combined fixed charges and preferred unit distributions	1.7		2.5		1.4		1.5		1.4

(1) The year ended December 31, 2010 includes a loss on termination of derivatives of $6.1 million.

(2) The year ended December 31, 2009 includes a $10.5 million gain on early extinguishment of debt from an exchange offer of common shares for convertible debt and a $31.5 million gain on acquisition of previously held unconsolidated joint venture interest.

(3) The year ended December 31, 2008 includes a loss on termination of derivatives of $8.9 million.