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EXHIBIT 12.1
SUMMIT PROPERTIES INC.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
NINE MONTHS ENDED SEPTEMBER 30, 2000
(Dollars In thousands)
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Income before extraordinary items, minority interest of
Common unitholders in Operating Partnership and dividends
to Preferred unitholders in Operating Partnership .............. $64,097
Interest:
Expense incurred ............................................. 28,544
Amortization of deferred financing costs ..................... 731
Rental fixed charges ......................................... 188
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Total Earnings .................................................. $93,560
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Fixed charges:
Interest expense ............................................. $28,544
Interest capitalized ......................................... 7,594
Dividends to preferred unitholders in Operating
Partnership ................................................. 9,315
Rental fixed charges ......................................... 188
Amortization of deferred financing costs ..................... 731
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Total fixed charges ........................................ $46,372
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Ratio of earnings to fixed charges .............................. 2.02
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