Exhibit 12.1

American Land Lease, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in thousands)



|                                                                                              |  |                         |        |      |   |        |  |      |        |      |   |        |  |   |       
|--------------------------------------------------------------------------------------------- |  | ----------------------- | ------ | ---- | - | ------ |  | ---- | ------ | ---- | - | ------ |  | - | ------
|                                                                                              |  | Year Ended December 31,
|                                                                                              |  | 2006                    |        | 2005 |   | 2004   |  | 2003 |        | 2002
|Earnings:                                                                                     |  |                         |        |      |   |        |  |      |        |      |   |        |  |   |       
|Income from continuing operations before taxes and minority interest in Operating Partnership |  | $                       | 12,045 |      | $ | 12,834 |  | $    | 9,632  |      | $ | 10,010 |  | $ | 6,491 
|Interest Expense                                                                              |  |                         | 7,880  |      |   | 5,657  |  |      | 5,507  |      |   | 5,114  |  |   | 4,516 
|Interest component of rental expense                                                          |  |                         | 56     |      |   | 54     |  |      | 54     |      |   | 54     |  |   | 54    
|                                                                                              |  |                         |        |      |   |        |  |      |        |      |   |        |  |   |       
|Total earnings (A)                                                                            |  | $                       | 19,981 |      | $ | 18,864 |  | $    | 15,540 |      | $ | 15,625 |  | $ | 11,371
|Fixed charges:                                                                                |  |                         |        |      |   |        |  |      |        |      |   |        |  |   |       
|Interest Expense                                                                              |  |                         | 7,880  |      |   | 5,657  |  |      | 5,507  |      |   | 5,114  |  |   | 4,516 
|Capitalized interest                                                                          |  |                         | 7,620  |      |   | 5,554  |  |      | 3,768  |      |   | 3,312  |  |   | 3,426 
|Interest component of rental expense                                                          |  |                         | 56     |      |   | 54     |  |      | 54     |      |   | 54     |  |   | 54    
|Preferred stock dividends                                                                     |  |                         | 1,938  |      |   | 1,647  |  |      |       |      |   |       |  |   |      
|                                                                                              |  |                         |        |      |   |        |  |      |        |      |   |        |  |   |       
|Total fixed charges (B)                                                                       |  | $                       | 17,494 |      | $ | 13,099 |  | $    | 9,520  |      | $ | 8,747  |  | $ | 8,231 
|Ratio of earnings to fixed charges (A divided by B)                                           |  |                         | 1.1    |      |   | 1.4    |  |      | 1.6    |      |   | 1.8    |  |   | 1.4