EXHIBIT 12.1

STATEMENT RE COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES

	For the Twelve Months Ended September 30
(Dollars in thousands)	2003			2002			2001			2000			1999
FIXED CHARGES:
Real estate
Interest and debt expense	$	50,862		$	51,061		$	51,203		$	47,149		$	40,546
Ground rent		—			—			—			—			—
Total fixed charges for ratio—real estate		50,862			51,061			51,203			47,149			40,546
Banking
Preference security dividend requirements of consolidated subsidiary		15,000			15,000			15,000			15,000			15,000
Interest expense		205,479			273,186			422,744			394,400			245,507
Total fixed charges for ratio—total company	$	271,341		$	339,247		$	488,947		$	456,549		$	301,053
EARNINGS:
Operating income—total company	$	131,297		$	84,034		$	94,980		$	69,805		$	83,033
Equity in earnings of unconsolidated entities		(7,248	)		(8,811	)		(7,169	)		(7,291	)		(4,964	)
Distributions from unconsolidated entities		12,048			11,496			10,814			10,297			9,513
Capitalized interest		—			(287	)		(569	)		(1,175	)		(961	)
Preference security dividend requirements of consolidated subsidiary		(15,000	)		(15,000	)		(15,000	)		(15,000	)		(15,000	)
		121,097			71,432			83,056			56,636			71,621
Total fixed charges for ratio—total company		271,341			339,247			488,947			456,549			301,053
Total earnings for ratio	$	392,438		$	410,679		$	572,003		$	513,185			372,674
RATIO OF EARNINGS TO FIXED CHARGES		1.45	x		1.21	x		1.17	x		1.12	x		1.24	x
Excess of available earnings over fixed charges	$	121,097		$	71,432		$	83,056		$	56,636		$	71,621