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EXHIBIT 12.1
SUMMIT PROPERTIES INC.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES SIX MONTHS ENDED
JUNE 30, 2000
(Dollars In thousands)
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Income before minority interest of unitholders in Operating
Partnership and dividends to preferred unitholders in
Operating Partnership..................................... $31,031
Interest:
Expense incurred....................................... 18,455
Amortization of deferred financing costs............... 475
Rental fixed charges................................... 116
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Total Earnings.............................................. $50,077
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Fixed charges:
Interest expense....................................... $18,455
Interest capitalized................................... 4,643
Dividends to preferred unitholders in Operating
Partnership........................................... 6,210
Rental fixed charges................................... 116
Amortization of deferred financing costs............... 475
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Total fixed charges............................... $29,899
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Ratio of earnings to fixed charges.......................... 1.67
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