Exhibit 12.1
 Brandywine Realty Trust
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Distributions
(in thousands)
 For the six-months ended June 30,
    
    
    For the years ended December 31,2008
    
    
    2007
    
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004
    
    
    2003Earnings before fixed charges:Add:Income (loss) from continuing operations (a)
    
    $
    6,757
    
    
    $
    (11,547
    )
    
    $
    20,569
    
    
    $
    (26,655
    )
    
    $
    29,906
    
    
    $
    48,667
    
    
    $
    62,668Minority interest attributable to continuing operations
    
    
    181
    
    
    
    (573
    )
    
    
    988
    
    
    
    (1,802
    )
    
    
    832
    
    
    
    2,399
    
    
    
    8,749Fixed charges  per below
    
    
    87,824
    
    
    
    92,165
    
    
    
    185,572
    
    
    
    186,044
    
    
    
    86,191
    
    
    
    61,443
    
    
    
    69,476Less:Capitalized interest
    
    
    (9,265
    )
    
    
    (8,217
    )
    
    
    (17,476
    )
    
    
    (9,537
    )
    
    
    (9,603
    )
    
    
    (3,030
    )
    
    
    (1,503
    )Preferred Distributions of consolidated subsidiaries
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (832
    )
    
    
    (7,069
    )Earnings before fixed charges
    
    $
    85,497
    
    
    $
    71,828
    
    
    $
    189,653
    
    
    $
    148,050
    
    
    $
    107,326
    
    
    $
    108,647
    
    
    $
    132,321Fixed charges and Preferred Distributions:Interest expense (including amortization)
    
    $
    74,513
    
    
    $
    80,719
    
    
    $
    161,674
    
    
    $
    170,214
    
    
    $
    73,918
    
    
    $
    54,610
    
    
    $
    57,835Capitalized interest
    
    
    9,265
    
    
    
    8,217
    
    
    
    17,476
    
    
    
    9,537
    
    
    
    9,603
    
    
    
    3,030
    
    
    
    1,503Proportionate share of interest for unconsolidated real estate ventures
    
    
    4,046
    
    
    
    3,229
    
    
    
    6,422
    
    
    
    6,293
    
    
    
    2,670
    
    
    
    2,971
    
    
    
    3,069Distributions to preferred unitholders in Operating Partnership
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    832
    
    
    
    7,069Total Fixed Charges
    
    
    87,824
    
    
    
    92,165
    
    
    
    185,572
    
    
    
    186,044
    
    
    
    86,191
    
    
    
    61,443
    
    
    
    69,476Income allocated to preferred shareholders
    
    
    3,996
    
    
    
    3,996
    
    
    
    7,992
    
    
    
    7,992
    
    
    
    7,992
    
    
    
    9,720
    
    
    
    11,906Total Preferred Distributions
    
    
    3,996
    
    
    
    3,996
    
    
    
    7,992
    
    
    
    7,992
    
    
    
    7,992
    
    
    
    9,720
    
    
    
    11,906Total combined fixed charges and preferred distributions
    
    $
    91,820
    
    
    $
    96,161
    
    
    $
    193,564
    
    
    $
    194,036
    
    
    $
    94,183
    
    
    $
    71,163
    
    
    $
    81,382Ratio of earnings to combined fixed charges and preferred distributions
    
    
    (b
    )
    
    
    (b
    )
    
    
    (b
    )
    
    
    (b
    )
    
    
    1.14
    
    
    
    1.53
    
    
    
    1.63
 
 (a)
    
    Amounts for the six-months ended June 30, 2008 and 2007 and for the years ended December 31,
2007, 2006,
2005, 2004 and 2003 have been reclassified to present properties sold consistent with the
presentation for the period
ended June 30, 2008. As a result, operations have been reclassified to discontinued operations
from
continuing operations for all periods presented.(b)
    
    Due to the registrants loss in the period, the coverage ratio was less than 1:1. The
registrant must generate additional
earnings of $6,323 for six-months ended June 30, 2008, $24,333 for the six-months ended June 30,
2007, $3,911 for the
year ended December 31, 2007 and $45,986 for the year ended December 31, 2006 to achieve a coverage
ratio of 1:1.