Exhibit 12.1

HIGHWOODS PROPERTIES, INC.

RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

	Three Months Ended
	March 31, 2012
Earnings:
Income from continuing operations before equity in earnings of unconsolidated affiliates	$	13,277
Fixed charges	25,274
Capitalized interest	(101		)
Distributions of earnings from unconsolidated affiliates	1,388
Total earnings	$	39,838
Fixed charges and Preferred Stock dividends:
Contractual interest expense	$	23,948
Amortization of deferred financing costs	902
Financing obligations interest expense	(48		)
Capitalized interest	101
Interest component of rental expense	371
Total fixed charges	25,274
Preferred Stock dividends	627
Total fixed charges and Preferred Stock dividends	$	25,901
Ratio of earnings to fixed charges	1.58
Ratio of earnings to combined fixed charges and Preferred Stock dividends	1.54