Exhibit 12.1



STATEMENT RE COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES



|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|-------------------------------------------------------------------- |  | ----------------------------------------- | ------- | - | ---- | - | ------- | ---- |  | - | ------- | - |  | ---- | ------- | - |  | - | ------- | -
|                                                                     |  | For the Twelve Months Ended September 30, |        
|(Dollars in thousands)                                               |  | 2004                                      |         |   | 2003 |   |         | 2002 |  |   | 2001    |   |  | 2000 |        
|FIXED CHARGES:(1)                                                    |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Real estate                                                          |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Interest and debt expense                                            |  | $                                         | 60,478  |   |      | $ | 50,862  |      |  | $ | 51,061  |   |  | $    | 51,203  |   |  | $ | 47,149  |  
|Ground rent                                                          |  |                                           |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total fixed charges for ratio - real estate                          |  |                                           | 60,478  |   |      |   | 50,862  |      |  |   | 51,061  |   |  |      | 51,203  |   |  |   | 47,149  |  
|Banking                                                              |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Preference security dividend requirements of consolidated subsidiary |  |                                           | 27,989  |   |      |   | 15,000  |      |  |   | 15,000  |   |  |      | 15,000  |   |  |   | 15,000  |  
|Interest expense                                                     |  |                                           | 163,022 |   |      |   | 205,479 |      |  |   | 273,186 |   |  |      | 422,744 |   |  |   | 394,400 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total fixed charges for ratio - total company                        |  | $                                         | 251,489 |   |      | $ | 271,341 |      |  | $ | 339,247 |   |  | $    | 488,947 |   |  | $ | 456,549 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|EARNINGS:(1)                                                         |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Operating income - total company                                     |  | $                                         | 206,844 |   |      | $ | 131,297 |      |  | $ | 84,034  |   |  | $    | 94,980  |   |  | $ | 69,805  |  
|Equity in earnings of unconsolidated entities                        |  |                                           | (7,788  | ) |      |   | (7,248  | )    |  |   | (8,811  | ) |  |      | (7,169  | ) |  |   | (7,291  | )
|Distributions from unconsolidated entities                           |  |                                           | 12,550  |   |      |   | 12,048  |      |  |   | 11,496  |   |  |      | 10,814  |   |  |   | 10,297  |  
|Capitalized interest                                                 |  |                                           |        |   |      |   |        |      |  |   | (287    | ) |  |      | (569    | ) |  |   | (1,175  | )
|Preference security dividend requirements of consolidated subsidiary |  |                                           | (27,989 | ) |      |   | (15,000 | )    |  |   | (15,000 | ) |  |      | (15,000 | ) |  |   | (15,000 | )
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|                                                                     |  |                                           | 183,617 |   |      |   | 121,097 |      |  |   | 71,432  |   |  |      | 83,056  |   |  |   | 56,636  |  
|Total fixed charges for ratio - total company                        |  |                                           | 251,489 |   |      |   | 271,341 |      |  |   | 339,247 |   |  |      | 488,947 |   |  |   | 456,549 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total earnings for ratio                                             |  | $                                         | 435,106 |   |      | $ | 392,438 |      |  | $ | 410,679 |   |  | $    | 572,003 |   |  | $ | 513,185 |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|RATIO OF EARNINGS TO FIXED CHARGES                                   |  |                                           | 1.73 x  |   |      |   | 1.45 x  |      |  |   | 1.21 x  |   |  |      | 1.17 x  |   |  |   | 1.12 x  |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Excess of available earnings over fixed charges                      |  | $                                         | 183,617 |   |      | $ | 121,097 |      |  | $ | 71,432  |   |  | $    | 83,056  |   |  | $ | 56,636  |  
|                                                                     |  |                                           |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  

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