03/31/03

03/31/02

12/31/02

12/31/01

12/31/00

12/31/99

12/31/98

Income before allocation to Minority Interests, income (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and discontinued operations

$

72,165

$

89,462

$

328,905

$

393,120

$

360,878

$

302,673

$

234,920

Interest and other financing costs

80,809

84,331

337,489

352,903

363,851

328,459

243,531

Amortization of deferred financing costs

1,408

1,385

5,748

5,818

5,432

4,024

2,724

Income (loss) from investments in unconsolidated entities

107

226

(3,698

)

3,772

2,309

3,850

1,192

Earnings before combined fixed charges and preferred distributions

154,489

175,404

668,444

755,613

732,470

639,006

482,367

Preferred distributions

24,180

24,525

97,151

106,119

111,941

113,196

92,917

Earnings before combined fixed charges

$

130,309

$

150,879

$

571,293

$

649,494

$

620,529

$

525,810

$

389,450

Interest and other financing costs

$

80,809

$

84,331

$

337,489

$

352,903

$

363,851

$

328,459

$

243,531

Amortization of deferred financing costs

1,408

1,385

5,748

5,818

5,432

4,024

2,724

Interest capitalized for real estate and unconsolidated entities under development

5,437

5,884

27,167

28,174

17,650

8,134

1,620

Total combined fixed charges

87,654

91,600

370,404

386,895

386,933

340,617

247,875

Preferred distributions

24,180

24,525

97,151

106,119

111,941

113,196

92,917

Total combined fixed charges and preferred distributions

$

111,834

$

116,125

$

467,555

$

493,014

$

498,874

$

453,813

$

340,792

Ratio of earnings before combined fixed charges to total combined fixed charges

1.49

1.65

1.54

1.68

1.60

1.54

1.57

Ratio of earnings before combined fixed charges and preferred distributions to total combined fixed charges and preferred distributions

1.38

1.51

1.43

1.53

1.47

1.41

1.42