Exhibit 12.1

AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Year Ended December 31,
	2015				2014				2013			2012			2011
EARNINGS BEFORE FIXED CHARGES:
Pre-tax income from continuing operations before noncontrolling interests and income (loss) from equity investees	$	119,303			$	62,692			$	48,456		$	49,070		$	35,085
Distributed income of joint ventures	—				—				—			—			—
Less: Capitalized interest	(9,613		)		(8,761		)		(10,050		)	(9,820		)	(6,598		)
Less: Preferred distributions of subsidiaries	(176		)		(178		)		(182		)	(183		)	(183		)
Total earnings before fixed charges	109,514			(1)	53,753			(2)	38,224			39,067			28,304
FIXED CHARGES:
Interest expense	87,789				90,490				79,643			57,241			52,214
Capitalized interest	9,613				8,761				10,050			9,820			6,598
Amortization of deferred financing costs	5,550				5,925				5,608			4,661			5,297
Interest portion of rental expense	2,297				1,401				1,178			726			655
Preferred distribution of subsidiaries	176				178				182			183			183
Total fixed charges	105,425				106,755				96,661			72,631			64,947
Total earnings and fixed charges	$	214,939		(1)	$	160,508		(2)	$	134,885		$	111,698		$	93,251
RATIO OF EARNINGS TO FIXED   CHARGES	2.04			(1)	1.50			(2)	1.40			1.54			1.44

⁽¹⁾ Earnings include net gains from the disposition of real estate of $52.7 million and losses from the early extinguishment of debt of $1.8 million. Excluding these amounts, the ratio would be 1.56.

⁽²⁾ Earnings include losses and impairment charges from the disposition of real estate of $2.8 million. Excluding this amount, the ratio would have been 1.53.