----

|                                                                                   |   |   |    |   | Year Ended December 31, |   |
|----------------------------------------------------------------------------------------|--------|--------|---------|--------|-------------------------|--------|
|                                                                                   |   | 2009   |    |   | 2008                    |   |   | 2007 |   |   | 2006 |   |   | 2005 |   |
| Pretax income from continuing operations before adjustment for noncontrolling interest |   | $      | 68,423  |   |                    | $      | 35,189 |   |   | $ | 48,424 |   |   | $ | 53,706 |   |   | $ | 59,063 |   |
|                                                                                   |   |   |    |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Adjustments                                                                            |   |   |    |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity in income in unconsolidated joint ventures                                      |   |   | 88      |   |                    |   | (108 | ) |   |   | - |   |   |   | (1,853 | ) |   |   | - |   |
| Fixed Charges                                                                          |   |   | 76,400  |   |                    |   | 65,414 |   |   |   | 71,986 |   |   |   | 62,846 |   |   |   | 56,849 |   |
| Distributed income of equity investees                                                 |   |   | 371     |   |                    |   | 170 |   |   |   | - |   |   |   | 3,308 |   |   |   | (12 | ) |
| Capitalized interest                                                                   |   |   | (1,430  | )      |                    |   | (2,934 | ) |   |   | (3,194 | ) |   |   | (5,820 | ) |   |   | (3,354 | ) |
| Earnings as Defined                                                                    |   | $      | 143,852 |   |                    | $      | 97,731 |   |   | $ | 117,216 |   |   | $ | 112,187 |   |   | $ | 112,546 |   |
|                                                                                   |   |   |    |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed Charges                                                                          |   |   |    |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                                                       |   | $      | 71,229  |   |                    | $      | 62,752 |   |   | $ | 69,209 |   |   | $ | 58,812 |   |   | $ | 57,142 |   |
| Capitalized interest                                                                   |   |   | 1,430   |   |                    |   | 2,934 |   |   |   | 3,194 |   |   |   | 5,820 |   |   |   | 3,354 |   |
| Amortization of debt premiums (discounts)                                              |   |   | 2,221   |   |                    |   | (1,902 | ) |   |   | (2,102 | ) |   |   | (3,289 | ) |   |   | (5,159 | ) |
| Amortization of loan fees                                                              |   |   | 1,520   |   |                    |   | 1,629 |   |   |   | 1,684 |   |   |   | 1,503 |   |   |   | 1,512 |   |
| Fixed Charges                                                                          |   | $      | 76,400  |   |                    | $      | 65,413 |   |   | $ | 71,985 |   |   | $ | 62,846 |   |   | $ | 56,849 |   |
|                                                                                   |   |   |    |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio of earning to Fixed Charges                                                      |   |   | 1.88    |   |                    |   | 1.49 |   |   |   | 1.63 |   |   |   | 1.79 |   |   |   | 1.98 |   |

----