Exhibit 12.1

HUDSON PACIFIC PROPERTIES, INC.

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND

CONSOLIDATED RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED DIVIDENDS

(Unaudited; in thousands, except ratios)

	Consolidated
	For the year ended December 31,
	2017		2016		2015			2014		2013
Earnings:
Net income (loss) from continuing operations before income from unconsolidated joint ventures	91,492		42,106		(16,082		)	23,686		1,415
Plus:
Fixed Charges (see below)	103,023		89,668		58,951			33,685		30,925
Distributions from unconsolidated entities	3,329		1,188		—			—		—
Amortization of capitalized interest	867		577		410			232		115
Less:
Capitalized interest	(10,655	)	(11,307	)	(6,516		)	(6,938	)	(4,562		)
Preferred distributions of consolidated subsidiaries	(636	)	(636	)	(636		)	(641	)	(749		)
Noncontrolling interest in income of subsidiaries that have not incurred fixed charges	(12,191	)	(9,577	)	(5,837		)	—		—
Total Earnings	175,229		112,019		30,290			50,024		27,144
Fixed Charges
Interest expense (including amortization of loan fees and discounts)	90,037		76,044		50,667			25,932		25,470
Capitalized interest	10,655		11,307		6,516			6,938		4,562
Preferred distributions of consolidated subsidiaries	636		636		636			641		749
Estimate of interest within rental expense	1,695		1,681		1,132			174		144
Total Fixed Charges	103,023		89,668		58,951			33,685		30,925
Preferred Dividends	—		—		11,469			12,144		12,144
Distributions on redemption of preferred units	—		—		5,970			—		—
Combined fixed charges and preferred dividends	103,023		89,668		76,390			45,829		43,069
Earnings to Fixed Charges
Ratio	1.70		1.25					1.49
Deficiency					$	28,661				$	3,781
Earnings to Combined Fixed Charges
Ratio	1.70		1.25					1.09
Deficiency					$	46,100				$	15,925