Exhibit 12.1

HIGHWOODS PROPERTIES, INC.

RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

	Six Months Ended June 30, 2012
Earnings:
Income from continuing operations before equity in earnings of unconsolidated affiliates	$	23,674
Fixed charges	50,364
Capitalized interest	(327		)
Distributions of earnings from unconsolidated affiliates	2,225
Total earnings	$	75,936
Fixed charges and Preferred Stock dividends:
Contractual interest expense	$	47,591
Amortization of deferred financing costs	1,802
Financing obligations interest expense	(96		)
Capitalized interest	327
Interest component of rental expense	740
Total fixed charges	50,364
Preferred Stock dividends	1,254
Total fixed charges and Preferred Stock dividends	$	51,618
Ratio of earnings to fixed charges	1.51
Ratio of earnings to combined fixed charges and Preferred Stock dividends	1.47