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<PAGE>
EXHIBIT 12
JDN Realty Corporation
Computation of Ratio of Earnings to Fixed Charges
Three months ended March 31,
2000 1999
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(restated)
Fixed Charges:
Interest Expense (including
amortization of deferred debt cost) $ 8,258 $ 6,518
Interest Capitalized 2,770 1,314
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Total Fixed Charges $ 11,028 $ 7,832
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Earnings:
Net (loss) before income tax benefit,
net gain (loss) on real estate sales
extraordinary items and
cumalative effect of change in
accounting principle $ 7,221 $ 11,932
Fixed Charges 11,028 7,832
Capitalized Interest (2,770) (1,314)
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Total Earnings $ 15,479 $ 18,450
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Ratio of Earnings to Fixed Charges 1.40 2.36
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