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, 2015
Earnings:
Income from continuing operations before equity in earnings of unconsolidated affiliates	$	19,024
Fixed charges	24,249
Capitalized interest	(1,968		)
Distributions of earnings from unconsolidated affiliates	1,386
Total earnings	$	42,691
Fixed charges and Preferred Stock dividends:
Contractual interest expense	$	20,442
Amortization of deferred financing costs	800
Financing obligations interest expense	181
Capitalized interest	1,968
Interest component of rental expense	858
Total fixed charges	24,249
Preferred Stock dividends	627
Total fixed charges and Preferred Stock dividends	$	24,876
Ratio of earnings to fixed charges	1.76
Ratio of earnings to combined fixed charges and Preferred Stock dividends	1.72