Exhibit 12.1

BRIXMOR PROPERTY GROUP INC. AND SUBSIDIARIES
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES AND CONSOLIDATED RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
											Year Ended December 31,
											2012				2013				2014				2015				2016
Earnings:
	Income (loss) before equity in income of unconsolidated joint ventures										$	(150,409	)		$	(81,825	)		$	110,581			$	197,077			$	277,665
	Interest expense, net of amortization of premium/discount										377,070				339,044				254,380				236,709				218,963
	Amortization of deferred financing fees										10,272				10,831				8,691				8,302				7,708
	Distributed income of equity investees										451				409				454				512				422
	Portion of rent expense representative of interest										445				443				416				364				312
Total Earnings											$	237,829			$	268,902			$	374,522			$	442,964			$	505,070
Fixed Charges:
	Interest expense, net of amortization of premium/discount										377,070				339,044				254,380				236,709				218,963
	Capitalized interest										1,661				4,968				4,047				2,749				2,870
	Amortization of deferred financing fees										10,272				10,831				8,691				8,302				7,708
	Portion of rent expense representative of interest										445				443				416				364				312
Total fixed charges (1)											389,448				355,286				267,534				248,124				229,853
	Preferred stock dividends										296				162				150				150				150
Total combined fixed charges and preferred stock dividends (2)											$	389,744			$	355,448			$	267,684			$	248,274			$	230,003
Ratio of Earnings to Fixed Charges											—				—				1.4				1.8				2.2
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends											—				—				1.4				1.8				2.2

(1)	For the years ended December 31, 2012 and 2013 fixed charges exceeded earnings by $151,619 and $86,384, respectively.

(2)	For the years ended December 31, 2012 and 2013 combined fixed charges and preferred stock dividends exceeded earnings by $151,915 and $86,546, respectively.

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BRIXMOR OPERATING PARTNERSHIP LP AND SUBSIDIARIES
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
											Year Ended December 31,
											2012				2013				2014				2015				2016
Earnings:
	Income (loss) before equity in income of unconsolidated joint ventures										$	(149,885	)		$	(81,819	)		$	110,581			$	197,077			$	277,665
	Interest expense, net of amortization of premium/discount										377,070				339,044				254,380				236,709				218,963
	Amortization of deferred financing fees										10,272				10,831				8,691				8,302				7,708
	Distributed income of equity investees										451				409				454				512				422
	Portion of rent expense representative of interest										445				443				416				364				312
Total Earnings											$	238,353			$	268,908			$	374,522			$	442,964			$	505,070
Fixed Charges:
	Interest expense, net of amortization of premium/discount										377,070				339,044				254,380				236,709				218,963
	Capitalized interest										1,661				4,968				4,047				2,749				2,870
	Amortization of deferred financing fees										10,272				10,831				8,691				8,302				7,708
	Portion of rent expense representative of interest										445				443				416				364				312
Total fixed charges (1)											$	389,448			$	355,286			$	267,534			$	248,124			$	229,853
Ratio of Earnings to Fixed Charges											—				—				1.4				1.8				2.2

(1)	For the years ended December 31, 2012 and 2013 fixed charges exceeded earnings by $151,095 and $86,378, respectively.