**Exhibit 21.1**

**SCHEDULE OF SUBSIDIARIES OF GABLES RESIDENTIAL TRUST**

| **Subsidiary**                                         | **Jurisdiction of Organization** | **Other Names Under Which Subsidiary Does Business** |
|--------------------------------------------------------|---------------------------------------|-----------------------------------------------------------|
| Gables Realty Limited Partnership                      | Delaware                              | None                                                      |
| Gables GP, Inc.                                        | Texas                                 | None                                                      |
| Gables Residential Services, Inc.                      | Texas                                 | Gables Corporate Accomodations                            |
| Gables-Tennessee Properties, L.L.C.                    | Tennessee                             | None                                                      |
| Gables Central Construction, Inc.                      | Texas                                 | None                                                      |
| Gables East Construction, Inc.                         | Georgia                               | None                                                      |
| GBP Services, Inc.                                     | Florida                               | None                                                      |
| Candlewood Gen Par, Inc.                               | Georgia                               | None                                                      |
| Candlewood-Indian Creek Limited Partnership            | Georgia                               | None                                                      |
| Gables Champions Limited Partnership                   | Texas                                 | None                                                      |
| Gables Realty GP, LLC                                  | Texas                                 | None                                                      |
| Gables River Oaks Limited Partnership                  | Texas                                 | None                                                      |
| Gables Lions Head Limited                              | Texas                                 | None                                                      |
| Gables Rivercrest II Limited                           | Texas                                 | None                                                      |
| GRT Villas Limited Partnership                         | Texas                                 | None                                                      |
| Metropolitan Apartments Venture                        | Texas                                 | None                                                      |
| Pin Oak Green                                          | Texas                                 | None                                                      |
| Pin Oak Park Apartments                                | Texas                                 | None                                                      |
| State Thomas GP LLC                                    | Delaware                              | None                                                      |
| State Thomas LP                                        | Delaware                              | None                                                      |
| Boca Place Associates, Ltd.                            | Florida                               | None                                                      |
| Boynton Beach I Limited Partnership                    | Florida                               | None                                                      |
| CM Bay Associates                                      | Florida                               | None                                                      |
| Gables Jupiter LLC                                     | Delaware                              | None                                                      |
| Hampton Lakes Associates                               | Florida                               | None                                                      |
| Hampton Lakes II Associates                            | Florida                               | None                                                      |
| Hampton Place Joint Venture                            | Florida                               | None                                                      |
| Kings Colony Associates, Ltd.                          | Florida                               | None                                                      |
| Mizner I Limited Partnership                           | Florida                               | None                                                      |
| Northlake Boulevard, LLC                               | Delaware                              | None                                                      |
| Palma Vista LLC                                        | Delaware                              | None                                                      |
| San Michele Joint Venture                              | Florida                               | None                                                      |
| San Michele II LLC                                     | Delaware                              | None                                                      |
| San Remo Limited Partnership                           | Florida                               | None                                                      |
| TCRDAD Vinings at Boynton Beach II Limited Partnership | Florida                               | None                                                      |
| TCRDAD Wellington Limited Partnership                  | Florida                               | None                                                      |
| Town Colony Associates                                 | Florida                               | None                                                      |
| Town Colony II Associates                              | Florida                               | None                                                      |
| Henry Adams House Apartments LLC                       | Delaware                              | None                                                      |
| SQ 157-AB Limited Partnership                          | District of Columbia                  | None                                                      |
| Gables Ambassador House LLC                            | District of Columbia                  | None                                                      |
| Vinings Realty Partners LLC                            | Florida                               | None                                                      |
| IPX Northside, LLC                                     | Georgia                               | None                                                      |
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