Exhibit 12



STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - REAL ESTATE TRUST ONLY



|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|---------------------------------------------------------- |  | ----------------------------------------- | ----------- | - | ---- | - | ----------- | ---- |  | - | ----------- | - |  | ---- | ----------- | - |  | - | ------ | -
|                                                           |  | For the Twelve Months Ended September 30, |            
|(Dollars in thousands)                                     |  | 2005                                      |             |   | 2004 |   |             | 2003 |  |   | 2002        |   |  | 2001 |            
|FIXED CHARGES: (1)                                         |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|Interest and debt expense                                  |  | $                                         | 49,439      |   |      | $ | 60,478      |      |  | $ | 50,862      |   |  | $    | 51,061      |   |  | $ | 51,203 |  
|Ground rent                                                |  |                                           |            |   |      |   |            |      |  |   |            |   |  |      |            |   |  |   |       |  
|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|Total fixed charges for ratio                              |  | $                                         | 49,439      |   |      | $ | 60,478      |      |  | $ | 50,862      |   |  | $    | 51,061      |   |  | $ | 51,203 |  
|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|                                                           |  |                                           |             |   |     
|EARNINGS: (1)                                              |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|Operating income (loss)                                    |  | $                                         | (8,905      | ) |      | $ | (24,371     | )    |  | $ | (14,893     | ) |  | $    | (19,548     | ) |  | $ | (667   | )
|Equity in earnings of unconsolidated entities              |  |                                           | (8,246      | ) |      |   | (7,788      | )    |  |   | (7,248      | ) |  |      | (8,811      | ) |  |   | (7,169 | )
|Distributions from unconsolidated entities                 |  |                                           | 13,272      |   |      |   | 12,550      |      |  |   | 12,048      |   |  |      | 11,496      |   |  |   | 10,814 |  
|Capitalized interest                                       |  |                                           |            |   |      |   |            |      |  |   |            |   |  |      | (287        | ) |  |   | (569   | )
|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|                                                           |  |                                           | (3,879      | ) |      |   | (19,609     | )    |  |   | (10,093     | ) |  |      | (17,150     | ) |  |   | 2,409  |  
|Total fixed charges for ratio                              |  |                                           | 49,439      |   |      |   | 60,478      |      |  |   | 50,862      |   |  |      | 51,061      |   |  |   | 51,203 |  
|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|Total earnings for ratio                                   |  | $                                         | 45,560      |   |      | $ | 40,869      |      |  | $ | 40,769      |   |  | $    | 33,911      |   |  | $ | 53,612 |  
|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|RATIO OF EARNINGS TO FIXED CHARGES                         |  |                                           | Less than 1 |   |      |   | Less than 1 |      |  |   | Less than 1 |   |  |      | Less than 1 |   |  |   | 1.05 x |  
|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  
|Excess (deficiency) of available earnings to fixed charges |  | $                                         | (3,879      | ) |      | $ | (19,609     | )    |  | $ | (10,093     | ) |  | $    | (17,150     | ) |  | $ | 2,409  |  
|                                                           |  |                                           |             |   |      |   |             |      |  |   |             |   |  |      |             |   |  |   |        |  

---

|(1) | Includes Discontinued Real Estate Operations
|--- | --------------------------------------------



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STATEMENT RE COMPUTATION OF
RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES



|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|-------------------------------------------------------------------- |  | ----------------------------------------- | ------- | - | ---- | - | ------- | ---- |  | - | ------- | - |  | ---- | ------- | - |  | - | ------- | -
|                                                                     |  | For the Twelve Months Ended September 30, |        
|(Dollars in thousands)                                               |  | 2005                                      |         |   | 2004 |   |         | 2003 |  |   | 2002    |   |  | 2001 |        
|FIXED CHARGES: (1)                                                   |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Real estate                                                          |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Interest and debt expense                                            |  | $                                         | 49,439  |   |      | $ | 60,478  |      |  | $ | 50,862  |   |  | $    | 51,061  |   |  | $ | 51,203  |  
|Ground rent                                                          |  |                                           |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total fixed charges for ratio - real estate                          |  |                                           | 49,439  |   |      |   | 60,478  |      |  |   | 50,862  |   |  |      | 51,061  |   |  |   | 51,203  |  
|Banking                                                              |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Preference security dividend requirements of consolidated subsidiary |  |                                           | 15,385  |   |      |   | 27,989  |      |  |   | 15,000  |   |  |      | 15,000  |   |  |   | 15,000  |  
|Interest expense                                                     |  |                                           | 207,193 |   |      |   | 163,022 |      |  |   | 205,479 |   |  |      | 273,186 |   |  |   | 422,744 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total fixed charges for ratio - total company                        |  | $                                         | 272,017 |   |      | $ | 251,489 |      |  | $ | 271,341 |   |  | $    | 339,247 |   |  | $ | 488,947 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|EARNINGS: (1)                                                        |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Operating income - total company                                     |  | $                                         | 180,790 |   |      | $ | 206,844 |      |  | $ | 131,297 |   |  | $    | 84,034  |   |  | $ | 94,980  |  
|Equity in earnings of unconsolidated entities                        |  |                                           | (8,246  | ) |      |   | (7,788  | )    |  |   | (7,248  | ) |  |      | (8,811  | ) |  |   | (7,169  | )
|Distributions from unconsolidated entities                           |  |                                           | 13,272  |   |      |   | 12,550  |      |  |   | 12,048  |   |  |      | 11,496  |   |  |   | 10,814  |  
|Capitalized interest                                                 |  |                                           |        |   |      |   |        |      |  |   |        |   |  |      | (287    | ) |  |   | (569    | )
|Preference security dividend requirements of consolidated subsidiary |  |                                           | (15,385 | ) |      |   | (27,989 | )    |  |   | (15,000 | ) |  |      | (15,000 | ) |  |   | (15,000 | )
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|                                                                     |  |                                           | 170,431 |   |      |   | 183,617 |      |  |   | 121,097 |   |  |      | 71,432  |   |  |   | 83,056  |  
|Total fixed charges for ratio - total company                        |  |                                           | 272,017 |   |      |   | 251,489 |      |  |   | 271,341 |   |  |      | 339,247 |   |  |   | 488,947 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total earnings for ratio                                             |  | $                                         | 442,448 |   |      | $ | 435,106 |      |  | $ | 392,438 |   |  | $    | 410,679 |   |  | $ | 572,003 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|RATIO OF EARNINGS TO FIXED CHARGES                                   |  |                                           | 1.63 x  |   |      |   | 1.73 x  |      |  |   | 1.45 x  |   |  |      | 1.21 x  |   |  |   | 1.17 x  |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Excess of available earnings over fixed charges                      |  | $                                         | 170,431 |   |      | $ | 183,617 |      |  | $ | 121,097 |   |  | $    | 71,432  |   |  | $ | 83,056  |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  

---

|(1) | Includes Discontinued Real Estate Operations
|--- | --------------------------------------------