EXHIBIT 12.1

REGENCY CENTERS CORPORATION—CONSOLIDATED RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(amounts in thousands)	Three Months Ended March 31,			Year Ended December 31,
	2011			2010			2009			2008			2007			2006
Fixed Coverage Ratio:
Add: pre-tax income from continuing operations before adjustment for income or loss from equity investees and noncontrolling interests in consolidated subsidiaries	$	9,036			16,920			(6,955	)		118,295			165,945			159,125
Add: fixed charges		39,163			163,659			176,950			195,703			181,780			157,277
Add: amortization of capitalized interest		—			—			—			—			—			—
Add: distributed income of equity investees		22,723			131,146			54,800			59,653			71,919			42,240
Add: share pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges		—			—			—			—			—			—
Subtract: capitalized interest		(589	)		(5,099	)		(19,062	)		(36,511	)		(35,424	)		(23,952	)
Subtract: preferred stock dividends		(5,850	)		(23,400	)		(23,400	)		(23,400	)		(23,400	)		(23,400	)
Subtract: noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges		(14	)		(66	)		(59	)		(41	)		(869	)		(4,752	)
Earnings	$	64,469			283,160			182,274			313,699			359,951			306,538
Fixed Charge Data:
Interest expensed and capitalized	$	31,953			134,936			147,613			167,520			154,411			130,009
Amortized premiums, discounts and capitalized expenses related to indebtedness		690			2,957			3,517			2,981			1,987			2,833
Estimate of the interest within rental expense		670			2,366			2,420			1,802			1,982			1,035
Preferred stock dividends		5,850			23,400			23,400			23,400			23,400			23,400
Total fixed charges	$	39,163			163,659			176,950			195,703			181,780			157,277
Ratio of earnings to combined fixed charges and preferred stock dividends		1.6			1.7			1.0			1.6			2.0			2.0

REGENCY CENTERS, L.P.- CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES

(amounts in thousands)	Three Months Ended March 31,			Year Ended December 31,
	2011			2010			2009			2008			2007			2006
Fixed Coverage Ratio:
Add: pre-tax income from continuing operations before adjustment for income or loss from equity investees and noncontrolling interests in consolidated subsidiaries	$	9,036			16,920			(6,955	)		118,295			165,945			159,125
Add: fixed charges		33,313			140,259			153,550			172,303			158,380			133,877
Add: amortization of capitalized interest		—			—			—			—			—			—
Add: distributed income of equity investees		22,723			131,146			54,800			59,653			71,919			42,240
Add: share pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges		—			—			—			—			—			—
Subtract: capitalized interest		(589	)		(5,099	)		(19,062	)		(36,511	)		(35,424	)		(23,952	)
Subtract: noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges		(14	)		(66	)		(59	)		(41	)		(869	)		(4,752	)
Earnings	$	64,469			283,160			182,274			313,699			359,951			306,538
Fixed Charge Data:
Interest expensed and capitalized	$	31,953			134,936			147,613			167,520			154,411			130,009
Amortized premiums, discounts and capitalized expenses related to indebtedness		690			2,957			3,517			2,981			1,987			2,833
Estimate of the interest within rental expense		670			2,366			2,420			1,802			1,982			1,035
Total fixed charges	$	33,313			140,259			153,550			172,303			158,380			133,877
Ratio of earnings to fixed charges		1.9			2.0			1.2			1.8			2.3			2.3