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Exhibit 12.2


MACK-CALI REALTY CORPORATION

CALCULATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(DOLLAR AMOUNTS IN THOUSANDS)

        Mack-Cali Realty Corporation's ratios of earnings to combined fixed charges and preferred stock dividends for the three months ended March 31, 2004 and for each of the five years ended December 31, 2003 were as follows:

 
   
  For the Year Ended December 31,
 
 
  Three Months
Ended March 31,
2004

  2003
  2002
  2001
  2000
  1999
 
EARNINGS:                                      

ADD:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
Income from continuing operations before minority interest and equity in earnings from unconsolidated joint ventures

 

$

33,265

 

$

136,583

 

$

157,432

 

$

167,236

 

$

136,278

 

$

146,680

 
 
Fixed charges (see calculation below)

 

 

34,105

 

 

139,603

 

 

143,592

 

 

144,625

 

 

132,640

 

 

125,550

 
 
Distributed income of unconsolidated joint ventures

 

 


 

 

11,405

 

 

14,793

 

 

9,004

 

 

8,055

 

 

2,263

 

SUBTRACT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
Capitalized interest

 

 

(914

)

 

(7,285

)

 

(19,664

)

 

(16,722

)

 

(11,524

)

 

(6,840

)
 
Preference security dividend requirements of consolidated subsidiaries

 

 

(3,909

)

 

(15,668

)

 

(15,656

)

 

(15,644

)

 

(15,441

)

 

(15,476

)
 
Minority interest in pre-tax income of consolidated subsidiaries that have not incurred fixed charges

 

 


 

 


 

 


 

 


 

 

(5,072

)

 

(79

)
   
 
 
 
 
 
 

TOTAL EARNINGS:

 

$

62,547

 

$

264,638

 

$

280,497

 

$

288,499

 

$

244,936

 

$

252,098

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (includes amortization of deferred financing costs)

 

$

29,196

 

$

116,311

 

$

107,823

 

$

112,003

 

$

105,394

 

$

102,960

 

Capitalized interest

 

 

914

 

 

7,285

 

 

19,664

 

 

16,722

 

 

11,524

 

 

6,840

 

Interest portion (33 percent) of ground rents on land leases

 

 

86

 

 

339

 

 

449

 

 

256

 

 

281

 

 

274

 

Preferred security dividend requirements of consolidated subsidiaries

 

 

3,909

 

 

15,668

 

 

15,656

 

 

15,644

 

 

15,441

 

 

15,476

 
   
 
 
 
 
 
 

TOTAL FIXED CHARGES:

 

$

34,105

 

$

139,603

 

$

143,592

 

$

144,625

 

$

132,640

 

$

125,550

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 

Preferred stock dividends

 

$

500

 

$

1,672

 

 


 

 


 

 


 

 


 
   
 
 
 
 
 
 

TOTAL COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS:

 

$

34,605

 

$

141,275

 

$

143,592

 

$

144,625

 

$

132,640

 

$

125,550

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS:

 

 

1.8

 

 

1.9

 

 

2.0

 

 

2.0

 

 

1.8

 

 

2.0

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 


MACK-CALI REALTY, L.P.

CALCULATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED SECURITY DIVIDENDS
(DOLLAR AMOUNTS IN THOUSANDS)

        Mack-Cali Realty, L.P.'s ratios of earnings to combined fixed charges and preferred security dividends for the three months ended March 31, 2004 and for each of the five years ended December 31, 2003 were as follows:

 
   
  For the Year Ended December 31,
 
 
  Three Months
Ended March 31,
2004

  2003
  2002
  2001
  2000
  1999
 
EARNINGS:                                      

ADD:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
Income from continuing operations before minority interest and equity in earnings from unconsolidated joint ventures

 

$

33,265

 

$

136,583

 

$

157,432

 

$

167,236

 

$

136,278

 

$

146,680

 
 
Fixed charges (see calculation below)

 

 

30,196

 

 

123,935

 

 

127,936

 

 

128,981

 

 

117,199

 

 

110,074

 
 
Distributed income of unconsolidated joint ventures

 

 


 

 

11,405

 

 

14,793

 

 

9,004

 

 

8,055

 

 

2,263

 

SUBTRACT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
Capitalized interest

 

 

(914

)

 

(7,285

)

 

(19,664

)

 

(16,722

)

 

(11,524

)

 

(6,840

)
 
Minority interest in pre-tax income of consolidated subsidiaries that have not incurred fixed charges

 

 


 

 


 

 


 

 


 

 

(5,072

)

 

(79

)
   
 
 
 
 
 
 

TOTAL EARNINGS:

 

$

62,547

 

$

264,638

 

$

280,497

 

$

288,499

 

$

244,936

 

$

252,098

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (includes amortization of deferred financing costs)

 

$

29,196

 

$

116,311

 

$

107,823

 

$

112,003

 

$

105,394

 

$

102,960

 

Capitalized interest

 

 

914

 

 

7,285

 

 

19,664

 

 

16,722

 

 

11,524

 

 

6,840

 

Interest portion (33 percent) of ground rents on land leases

 

 

86

 

 

339

 

 

449

 

 

256

 

 

281

 

 

274

 
   
 
 
 
 
 
 

TOTAL FIXED CHARGES:

 

$

30,196

 

$

123,935

 

$

127,936

 

$

128,981

 

$

117,199

 

$

110,074

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 

PREFERRED UNIT DISTRIBUTIONS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred unit distributions—Series B

 

$

3,909

 

$

15,668

 

$

15,656

 

$

15,644

 

$

15,441

 

$

15,476

 

Preferred unit distributions—Series C

 

 

500

 

 

1,672

 

 


 

 


 

 


 

 


 
   
 
 
 
 
 
 

TOTAL PREFERRED UNIT DISTRIBUTIONS:

 

$

4,409

 

$

17,340

 

$

15,656

 

$

15,644

 

$

15,441

 

$

15,476

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 

TOTAL COMBINED FIXED CHARGES AND PREFERRED UNIT DISTRIBUTIONS

 

$

34,605

 

$

141,275

 

$

143,592

 

$

144,625

 

$

132,640

 

$

125,550

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED UNIT DISTRIBUTIONS:

 

 

1.8

 

 

1.9

 

 

2.0

 

 

2.0

 

 

1.8

 

 

2.0

 
   
 
 
 
 
 
 
   
 
 
 
 
 
 



QuickLinks

MACK-CALI REALTY CORPORATION CALCULATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (DOLLAR AMOUNTS IN THOUSANDS)
MACK-CALI REALTY, L.P. CALCULATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SECURITY DIVIDENDS (DOLLAR AMOUNTS IN THOUSANDS)