Exhibit 21.1  List of Subsidiaries (as of April
30, 2006)  Entity
  
  State of Formation/Incorporation12th Street
  Associates Intermediate, LLC
  
  Delaware12th Street
  Associates, LLC
  
  Delaware353 Associates, LP
  
  Pennsylvania353 Associates GP, LLC
  
  Delaware3175 JFK Associates, LP
  
  DelawareAETC Housing, LP
  
  DelawareBelle Chase Associates,
  LLC
  
  DelawareBelle Chase Associates
  Intermediate, LLC
  
  DelawareBelle Chase Associates
  Intermediate II, LLC
  
  DelawareBethel Avenue
  Associates Intermediate, LLC
  
  DelawareBethel Avenue
  Associates, LLC
  
  DelawareBinford Street
  Associates Intermediate, LLC
  
  DelawareBinford Street
  Associates, LLC
  
  DelawareBowling Green
  Associates Intermediate, LLC
  
  DelawareBowling Green
  Associates, LLC
  
  DelawareBrookstone Drive
  Associates Intermediate, LLC
  
  DelawareBrookstone Drive
  Associates, LLC
  
  DelawareBurbank Drive
  Associates Intermediate, LLC
  
  DelawareBurbank Drive
  Associates Intermediate II, LLC
  
  DelawareBurbank Drive
  Associates, LLC
  
  DelawareCampus Club Associates
  Intermediate, LLC
  
  DelawareCampus Club Associates,
  LLC
  
  DelawareCampus Edge Associates
  Intermediate, LLC
  
  DelawareCampus Edge Associates,
  LLC
  
  DelawareCarlisle/Picatinny
  Family Housing, LP
  
  DelawareCollege Park
  Investments, LLC
  
  DelawareCollege Park
  Management, LLC
  
  FloridaCollege Park Management
  TRS, Inc.
  
  DelawareThe Commons II, LLC
  
  DelawareCroyden Avenue
  Associates, LLC
  
  DelawareDenton Associates, LLC
  
  DelawareFDWR Parent, LLC
  
  DelawareFort Bliss/White Sands
  Missile Range Housing LP
  
  DelawareFort Carson Family
  Housing, LLC
  
  ColoradoFort Carson
  Reinvestment Trust
  
  ColoradoFort Detrick/Walter
  Reed Army Medical Center Housing, LLC
  
  DelawareFort Eustis/Fort Story
  Housing LLC
  
  DelawareFort Gordon Housing,
  LLC
  
  DelawareFort Hamilton Housing
  LLC
  
  DelawareGainesville Associates
  Intermediate, LLC
  
  DelawareGainesville Associates,
  LLC
  
  DelawareGH 3175 JFK Associates
  GP, LLC
  
  DelawareGH University Crossings
  Associates GP, LLC
  
  DelawareGMH/AB Centex Military
  Communities, LLC
  
  DelawareGMH/AEW Associates, LLC
  
  DelawareGMH AETC Housing
  Construction, LLC
  
  DelawareGMH/ARMY Integrated,
  LLC
  
  DelawareGMH Benham Hensel
  Phelps Military Communities, LLC
  
  Delaware


GMH/Benham Military
  Communities LLC
  
  DelawareGMH/Benham Military
  Communities II, LLC
  
  DelawareGMH/FW Military
  Communities, LLC
  
  DelawareGMH/CENTEX Communities,
  LLC
  
  DelawareGMH Communities, LP
  
  DelawareGMH Communities GP
  Trust
  
  DelawareGMH Communities
  Services, Inc.
  
  DelawareGMH Communities TRS,
  Inc.
  
  DelawareGMH Independent Member
  I, Inc.
  
  DelawareGMH Independent Member
  II, Inc.
  
  DelawareGMH Military Housing,
  LLC
  
  DelawareGMH Military Housing-
  AETC General Partner, LLC
  
  DelawareGMH Military Housing-
  AETC Limited Partner, LLC
  
  DelawareGMH Military Housing 
  Bliss/WSMR General Partner, LLC
  
  DelawareGMH Military Housing 
  Bliss/WSMR Limited Partner, LLC
  
  DelawareGMH Military Housing-
  Carlisle/ Picatinny General Partner, LLC
  
  DelawareGMH Military Housing-
  Carlisle/Picatinny Limited Partner, LLC
  
  DelawareGMH Military Housing
  Construction, LLC
  
  DelawareGMH Military Housing
  Development LLC
  
  DelawareGMH Military
  HousingFDWR LLC
  
  DelawareGMH Military
  HousingFort Carson LLC
  
  DelawareGMH Military Housing 
  Fort Gordon, LLC
  
  DelawareGMH Military
  HousingFort Hamilton LLC
  
  DelawareGMH Military Housing
  Hampton Roads, LLC
  
  DelawareGMH Military Housing
  Investments LLC
  
  DelawareGMH Military Housing
  Management Fort Carson, LLC
  
  DelawareGMH Military Housing
  Management LLC
  
  DelawareGMH Military Housing
  Navy Northeast LLC
  
  DelawareGMH Military
  HousingStewart Hunter LLC
  
  DelawareGMH Northeast Housing
  Design/Build LLC
  
  DelawareGrandMarc UCR, LP
  
  DelawareGrandMarc UCR
  Intermediate, LLC
  
  DelawareGreenville Associates Intermediate,
  LLC
  
  DelawareGreenville Associates,
  LLC
  
  DelawareHattiesburg Associates,
  LLC
  
  DelawareHattiesburg Associates
  Owner, LLC
  
  DelawareHeron Drive Associates
  Intermediate, LLC
  
  DelawareHeron Drive Associates,
  LLC
  
  DelawareKlotz Road Associates
  Intermediate, LLC
  
  DelawareKlotz Road Associates,
  LLC
  
  DelawareKnotty Pine Associates
  Intermediate, LLC
  
  DelawareKnotty Pine Associates
  Intermediate II, LLC
  
  DelawareKnotty Pine Associates,
  LLC
  
  DelawareLa Riviera Drive
  Associates, LP
  
  DelawareLa Riviera Drive
  Associates, LLC
  
  DelawareLA-31, LP
  
  PennsylvaniaLanier Drive Associates
  Intermediate, LLC
  
  DelawareLanier Drive
  Associates, LLC
  
  DelawareLankford Drive
  Associates Intermediate, LLC
  
  DelawareLankford Drive
  Associates, LLC
  
  DelawareLincoln Boulevard
  Associates, LLC
  
  DelawareLincoln Boulevard
  Associates Intermediate, LLC
  
  DelawareLubbock Main Street
  Associates Intermediate, LLC
  
  DelawareLubbock Main Street
  Associates, LLC
  
  DelawareLubbock Two
  Intermediate, LLC
  
  DelawareLubbock Two Associates,
  LLC
  
  Delaware


Lynchburg Associates
  Intermediate, LLC
  
  DelawareLynchburg Associates,
  LLC
  
  DelawareMonks Road Associates,
  LLC
  
  DelawareMorgantown Associates,
  LLC
  
  DelawareMorgantown Associates
  Intermediate, LLC
  
  DelawareNebraska Charleston
  Associates, LLC
  
  DelawareNebraska Charleston
  Associates Intermediate, LLC
  
  DelawareNeff Avenue Associates
  Intermediate, LLC
  
  DelawareNeff Avenue Associates,
  LLC
  
  DelawareNew Center Drive
  Associates Intermediate, LLC
  
  DelawareNew Center Drive
  Associates, LLC
  
  DelawareNew Tomed, LLC
  
  DelawareNittany Crossing
  Intermediate, LLC
  
  DelawareNortheast Housing, LLC
  
  DelawareOak Tree Associates
  Intermediate, LLC
  
  DelawareOak Tree Associates,
  LLC
  
  DelawareOrchard Trails Housing,
  LLC
  
  DelawarePalisades Drive
  Associates Intermediate, LLC
  
  DelawarePalisades Drive
  Associates, LLC
  
  DelawarePeach Grove Associates
  Intermediate, LLC
  
  DelawarePeach Grove Associates,
  LLC
  
  DelawarePegasus Connection
  Associates Intermediate, LLC
  
  DelawarePegasus Connection
  Associates, LLC
  
  DelawareRacine Drive Associates
  Intermediate, LLC
  
  DelawareRacine Drive
  Associates, LLC
  
  DelawareReno Associates, LLC
  
  DelawareRiverbend Associates
  Intermediate, LLC
  
  DelawareRiverbend Associates,
  LLC
  
  DelawareRutherford Boulevard
  Associates Intermediate, LLC
  
  DelawareRutherford Boulevard
  Associates Intermediate II, LLC
  
  DelawareRutherford Boulevard
  Associates, LLC
  
  DelawareSacramento Fourth
  Avenue Associates, LLC
  
  DelawareSacramento Fourth
  Avenue Associates Intermediate, LLC
  
  DelawareSavoy Village
  Associates Intermediate, LLC
  
  DelawareSavoy Village
  Associates, LLC
  
  DelawareSeminole Ridge
  Associates Intermediate, LLC
  
  DelawareSeminole Ridge
  Associates, LLC
  
  DelawareSeminole Suites
  Associates Intermediate, LLC
  
  DelawareSeminole Suites
  Associates, LLC
  
  DelawareSilo Court Associates
  Intermediate, LLC
  
  DelawareSilo Court Associates,
  LLC
  
  DelawareSouth Carolina
  Associates, LLC
  
  DelawareSoutheast Region I
  Intermediate, LLC
  
  DelawareSoutheast Region I, LLC
  
  DelawareSoutheast Region I, LLC
  
  DelawareSoutheast Region II,
  LLC
  
  DelawareSoutheast Region III,
  LLC
  
  DelawareSoutheast Region IV
  Intermediate, LLC
  
  DelawareSoutheast Region IV,
  LLC
  
  DelawareState College Intermediate,
  LLC
  
  DelawareSterling Way Associates
  Intermediate, LLC
  
  DelawareSterling Way
  Associates, LLC
  
  DelawareStewart Hunter Housing
  LLC
  
  DelawareThird Street Associates
  Intermediate, LLC
  
  DelawareThird Street
  Associates, LLC
  
  DelawareTowmed Housing, LLC
  
  Delaware


Towmed Intermediate,
  LLC
  
  DelawareTwenty Seventh Street
  Associates Intermediate, LLC
  
  DelawareTwenty Seventh Street
  Associates, LLC
  
  DelawareUniversity Commons
  Intermediate Associates, LLC
  
  DelawareUniversity Commons Associates,
  LLC
  
  DelawareVairo Boulevard
  Associates Intermediate, LLC
  
  DelawareVairo Boulevard
  Associates, LP
  
  PennsylvaniaVarsity Lane Associates
  Intermediate, LLC
  
  DelawareVarsity Lane
  Associates, LLC
  
  DelawareW/9-JP-M Real Estate
  Limited Partnership
  
  DelawareWashington Avenue
  Associates Intermediate, LLC
  
  DelawareWashington Avenue
  Associates, LLC
  
  DelawareWHGMH Realty, L.P.
  
  DelawareWillowtree Associates I
  Intermediate Non-Managing, LLC
  
  DelawareWillowtree Associates I
  Intermediate, LLC
  
  DelawareWillowtree Associates
  I, LLC
  
  DelawareWillowtree Associates
  II Intermediate Non-Managing
  
  DelawareWillowtree Associates
  II Intermediate, LLC
  
  DelawareWillowtree Associates
  II, LLC
  
  DelawareWoodhaven Drive
  Associates Intermediate, LLC
  
  DelawareWoodhaven Drive
  Associates, LLC
  
  Delaware