Exhibit 21.0

TRANSCONTINENTAL REALTY INVESTORS, INC.

SUBSIDIARIES OF THE REGISTRANT

The following is a list of all subsidiaries of and partnership interests of Transcontinental Realty Investors, Inc., the percentage of ownership and the
state or other jurisdiction of organization or incorporation (indention indicates immediate parent entity):

Corporations



|                                                |  |           |   |  |                   
|----------------------------------------------- |  | --------- | - |  | ------------------
|Name of Entity                                  |  | Ownership |   |  | Jurisdiction      
|ART One Hickory Corporation                     |  | 100.00    | % |  | Nevada            
|ART Two Hickory Corporation                     |  | 100.00    | % |  | Nevada            
|Bridgeknight Holdings B.V.                      |  | 100.00    | % |  | Br. Virgin Islands
|Centura-Ewing, Inc.                             |  | 100.00    | % |  | Nevada            
|Century Realty, Inc.                            |  | 100.00    | % |  | Texas             
|Continental Common Lease, Inc.                  |  | 100.00    | % |  | Louisiana         
|Continental Mortgage and Equity Investors, Inc. |  | 100.00    | % |  | Nevada            
|Continental Baronne, Inc.                       |  | 100.00    | % |  | Nevada            
|Continental Common, Inc.                        |  | 100.00    | % |  | Nevada            
|Continental Indcon Corporation                  |  | 100.00    | % |  | Nevada            
|Continental Poydras Corp.                       |  | 100.00    | % |  | Nevada            
|Continental Signature, Inc.                     |  | 100.00    | % |  | Nevada            
|Continental Somerset Corporation                |  | 100.00    | % |  | Nevada            
|Continental WOW, Inc.                           |  | 100.00    | % |  | Nevada            
|Encon Warehouse, Inc.                           |  | 100.00    | % |  | Nevada            
|EQK Bridgeview Plaza, Inc.                      |  | 100.00    | % |  | Nevada            
|EQK Cullman, Inc.                               |  | 100.00    | % |  | Nevada            
|Garden Centura, Inc.                            |  | 100.00    | % |  | Nevada            
|Hartford Building Corporation                   |  | 100.00    | % |  | Texas             
|Income Opportunity Realty Investors, Inc. *     |  | 28.44     | % |  | Nevada            
|Mandahl Bay Holdings, Inc.                      |  | 100.00    | % |  | US Virgin Islands 
|Mercer Crossing Commercial Association, Inc.    |  | 100.00    | % |  | Texas             
|Midland Odessa Properties, Inc. **              |  | 48.80     | % |  | California        
|South Cochran Corporation                       |  | 100.00    | % |  | Nevada            
|South Toler, Inc.                               |  | 100.00    | % |  | Texas             
|T Belmont, Inc.                                 |  | 100.00    | % |  | Nevada            
|T Blue Lake II, Inc.                            |  | 100.00    | % |  | Nevada            
|T Blue Lakes, Inc.                              |  | 100.00    | % |  | Nevada            
|T Breakwater, Inc.                              |  | 100.00    | % |  | Nevada            
|T Capitol Hill II, Inc.                         |  | 100.00    | % |  | Nevada            
|T Capitol Hill, Inc.                            |  | 100.00    | % |  | Nevada            
|T Castle Glen, Inc.                             |  | 100.00    | % |  | Nevada            
|T City Park, Inc.                               |  | 100.00    | % |  | Nevada            
|T Clarksville, Inc.                             |  | 100.00    | % |  | Nevada            
|T Copperridge, Inc.                             |  | 100.00    | % |  | Nevada            
|T Dakota Arms, Inc.                             |  | 100.00    | % |  | Nevada            
|T Desoto Ridge, Inc.                            |  | 100.00    | % |  | Nevada            
|T Desoto, Inc.                                  |  | 100.00    | % |  | Nevada            
|T Dorado Ranch, Inc.                            |  | 100.00    | % |  | Nevada            
|T Echo Valley, Inc.                             |  | 100.00    | % |  | Nevada            
|T Galleria Town Center, Inc.                    |  | 100.00    | % |  | Nevada            
|T Galleria West Hotel, Inc.                     |  | 100.00    | % |  | Nevada            



---

|                            |  |           |   |  |                   
|--------------------------- |  | --------- | - |  | ------------------
|Name of Entity              |  | Ownership |   |  | Jurisdiction      
|T Galleria West Lofts, Inc. |  | 100.00    | % |  | Nevada            
|T Grand Prairie, Inc.       |  | 100.00    | % |  | Nevada            
|T Hackberry, Inc.           |  | 100.00    | % |  | Nevada            
|T Heather Creek, Inc.       |  | 100.00    | % |  | Nevada            
|T Keller Springs, Inc.      |  | 100.00    | % |  | Nevada            
|T Kingsland Ranch, Inc.     |  | 100.00    | % |  | Nevada            
|T Kinsey Bridges, Inc.      |  | 100.00    | % |  | Nevada            
|T Lago Vista West, Inc.     |  | 100.00    | % |  | Nevada            
|T Laguna, Inc.              |  | 100.00    | % |  | Nevada            
|T Lakeforest, Inc.          |  | 100.00    | % |  | Nevada            
|T LC Station, Inc.          |  | 100.00    | % |  | Nevada            
|T LC Village, Inc.          |  | 100.00    | % |  | Nevada            
|T Legend, Inc.              |  | 100.00    | % |  | Nevada            
|T Longfellow, Inc.          |  | 100.00    | % |  | Nevada            
|T Majestic, Inc.            |  | 100.00    | % |  | Nevada            
|T Mansions, Inc.            |  | 100.00    | % |  | Nevada            
|T Mason Park, Inc.          |  | 100.00    | % |  | Nevada            
|T Maumelle, Inc.            |  | 100.00    | % |  | Nevada            
|T Metro Center, Inc.        |  | 100.00    | % |  | Nevada            
|T Nashville, Inc.           |  | 100.00    | % |  | Nevada            
|T Park Central, Inc.        |  | 100.00    | % |  | Nevada            
|T Pecan Creek, Inc.         |  | 100.00    | % |  | Nevada            
|T Pecan Pointe, Inc.        |  | 100.00    | % |  | Nevada            
|T Pinnacle, Inc.            |  | 100.00    | % |  | Nevada            
|T Plum Creek, Inc.          |  | 100.00    | % |  | Nevada            
|T Polo Estates, Inc.        |  | 100.00    | % |  | Nevada            
|T Rogers, Inc.              |  | 100.00    | % |  | Nevada            
|T Sendero Ridge, Inc.       |  | 100.00    | % |  | Nevada            
|T Sorrento, Inc.            |  | 100.00    | % |  | Nevada            
|T Southwood 1295, Inc.      |  | 100.00    | % |  | Nevada            
|T Southwood 1394, Inc.      |  | 100.00    | % |  | Nevada            
|T Spanish Trail, Inc.       |  | 100.00    | % |  | Nevada            
|T Spyglass, Inc.            |  | 100.00    | % |  | Nevada            
|T Stonemason, Inc.          |  | 100.00    | % |  | Nevada            
|T Summer Breeze, Inc.       |  | 100.00    | % |  | Nevada            
|T Surf, Inc.                |  | 100.00    | % |  | Nevada            
|T Temple Villas, Inc.       |  | 100.00    | % |  | Nevada            
|T Travis, Inc.              |  | 100.00    | % |  | Nevada            
|T Vance Jackson, Inc.       |  | 100.00    | % |  | Nevada            
|T Verona Villas, Inc.       |  | 100.00    | % |  | Nevada            
|T Windsong, Inc.            |  | 100.00    | % |  | Nevada            
|Tacco Universal Corporation |  | 100.00    | % |  | Nevada            
|TCascades, Inc.             |  | 100.00    | % |  | Nevada            
|TCI 1013 Common, Inc.       |  | 100.00    | % |  | Nevada            
|TCI 109 Beltline, Inc.      |  | 100.00    | % |  | Nevada            
|TCI 151 Acres, Inc.         |  | 100.00    | % |  | Nevada            
|TCI 319 Acres, Inc.         |  | 100.00    | % |  | Nevada            
|TCI 600 Las Colinas, Inc.   |  | 100.00    | % |  | Nevada            
|TCI 9033 Wilshire Boulevard |  | 100.00    | % |  | Nevada            
|TCI 989 Market Street, Inc. |  | 100.00    | % |  | Nevada            
|TCI Anderson Estates, Inc.  |  | 100.00    | % |  | Nevada            
|TCI Asia Limted             |  | 100.00    | % |  | Br. Virgin Islands
|TCI Audubon Terrace, Inc.   |  | 100.00    | % |  | Nevada            



---

|                                |  |           |   |  |             
|------------------------------- |  | --------- | - |  | ------------
|Name of Entity                  |  | Ownership |   |  | Jurisdiction
|TCI Autumn Chase, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Baywalk Corp.               |  | 100.00    | % |  | Nevada      
|TCI Bentonville, Inc.           |  | 100.00    | % |  | Nevada      
|TCI Bluffs at Vista Ridge, Inc. |  | 100.00    | % |  | Nevada      
|TCI Bolivar Homes, Inc.         |  | 100.00    | % |  | Nevada      
|TCI Breezy Acres, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Broadway Estates, Inc.      |  | 100.00    | % |  | Nevada      
|TCI Centura, Inc.               |  | 100.00    | % |  | Nevada      
|TCI Circle C, Inc.              |  | 100.00    | % |  | Nevada      
|TCI Cocke Estates, Inc.         |  | 100.00    | % |  | Nevada      
|TCI Courtyard, Inc.             |  | 100.00    | % |  | Nevada      
|TCI Dedeaux Road, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Delta Development, Inc.     |  | 100.00    | % |  | Nevada      
|TCI Denham Springs, Inc.        |  | 100.00    | % |  | Nevada      
|TCI DLJ II, Inc.                |  | 100.00    | % |  | Nevada      
|TCI DLJ III, Inc.               |  | 100.00    | % |  | Nevada      
|TCI European Investment, Inc.   |  | 100.00    | % |  | Nevada      
|TCI Falcon Point, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Forum, Inc.                 |  | 100.00    | % |  | Nevada      
|TCI Gautier, Inc.               |  | 100.00    | % |  | Nevada      
|TCI Harpers Ferry, Inc.         |  | 100.00    | % |  | Nevada      
|TCI Heritage Building, Inc.     |  | 100.00    | % |  | Nevada      
|TCI Hunters Glen, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Island Bay Corp.            |  | 100.00    | % |  | Nevada      
|TCI Keller Hicks, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Lafayette Land, Inc.        |  | 100.00    | % |  | Nevada      
|TCI LeFlore Estates, Inc.       |  | 100.00    | % |  | Nevada      
|TCI Lexington Corp.             |  | 100.00    | % |  | Nevada      
|TCI Limestone Vista Ridge, Inc. |  | 100.00    | % |  | Nevada      
|TCI Lincoln Estates, Inc.       |  | 100.00    | % |  | Nevada      
|TCI Marina Landing Corp.        |  | 100.00    | % |  | Nevada      
|TCI McKinney 34, Inc.           |  | 100.00    | % |  | Nevada      
|TCI McKinney Ranch, Inc.        |  | 100.00    | % |  | Nevada      
|TCI Mercer Crossing, Inc.       |  | 100.00    | % |  | Nevada      
|TCI Montfort Plaza, Inc.        |  | 100.00    | % |  | Nevada      
|TCI Monticello Estates, Inc.    |  | 100.00    | % |  | Nevada      
|TCI Mountain Plaza, Inc.        |  | 100.00    | % |  | Nevada      
|TCI MS Investment, Inc.         |  | 100.00    | % |  | Mississippi 
|TCI NO Properties, Inc.         |  | 100.00    | % |  | Nevada      
|TCI Ocean Estates, Inc.         |  | 100.00    | % |  | Nevada      
|TCI Paramount Terrace, Inc.     |  | 100.00    | % |  | Nevada      
|TCI Park West I, Inc.           |  | 100.00    | % |  | Nevada      
|TCI Park West II, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Park West Land, Inc.        |  | 100.00    | % |  | Nevada      
|TCI Parkway Place, Inc.         |  | 100.00    | % |  | Nevada      
|TCI Riverwalk I, Inc.           |  | 100.00    | % |  | Nevada      
|TCI Riverwalk II, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Stone Villas, Inc.          |  | 100.00    | % |  | Nevada      
|TCI Sugar Mill, Inc.            |  | 100.00    | % |  | Nevada      
|TCI Sunflower Estates, Inc.     |  | 100.00    | % |  | Nevada      
|TCI Tivoli, Inc.                |  | 99.00     | % |  | Nevada      
|TCI Valley Ranch 20, Inc.       |  | 100.00    | % |  | Nevada      
|TCI West End, Inc.              |  | 100.00    | % |  | Nevada      



---

|                                       |  |           |   |  |             
|-------------------------------------- |  | --------- | - |  | ------------
|Name of Entity                         |  | Ownership |   |  | Jurisdiction
|TCI Westwood Square, Inc.              |  | 100.00    | % |  | Nevada      
|TCI Woodsong, Inc.                     |  | 100.00    | % |  | Nevada      
|TCI Yazoo Estates, Inc.                |  | 100.00    | % |  | Nevada      
|TFalcon, Inc.                          |  | 100.00    | % |  | Nevada      
|Top Capital Partners, Inc.             |  | 100.00    | % |  | Nevada      
|Transcontinental 4400, Inc.            |  | 100.00    | % |  | Nevada      
|Transcontinental Cary, Inc.            |  | 100.00    | % |  | Nevada      
|Transcontinental Coventry Pointe, Inc. |  | 100.00    | % |  | Nevada      
|Transcontinental Eldorado, Inc.        |  | 100.00    | % |  | Nevada      
|Transcontinental Gautier Land, Inc.    |  | 100.00    | % |  | Nevada      
|Transcontinental Lamar, Inc.           |  | 100.00    | % |  | Nevada      
|Transcontinental Texstar, Inc.         |  | 100.00    | % |  | Nevada      
|Transcontinental Treehouse Corporation |  | 100.00    | % |  | Nevada      
|Transcontinental Westgrove, Inc.       |  | 100.00    | % |  | Nevada      
|Verandas at Cityview Corp.             |  | 100.00    | % |  | Nevada      
|Warren Road Farm, Inc.                 |  | 100.00    | % |  | Nevada      

LLC Interests (including direct and indirect ownership through subsidiaries)

|                                           |  |        |   |  |            
|------------------------------------------ |  | ------ | - |  | -----------
|CCH Member, LLC                            |  | 100.00 | % |  | Mississippi
|Capital Center Holdings, LLC               |  | 50.00  | % |  | Mississippi
|David L. Jordan Apartments, Phase III, LLC |  | 0.01   | % |  | Mississippi
|GP Bluffs Vista Ridge, LLC                 |  | 100.00 | % |  | Nevada     
|JMJ Circle C East, LLC                     |  | 100.00 | % |  | Texas      
|JMJ Circle C West, LLC                     |  | 100.00 | % |  | Texas      
|JMJ Circle C, LLC                          |  | 100.00 | % |  | Texas      
|LeFlore Estates, LLC                       |  | 0.01   | % |  | Mississippi
|Soledad Investments, LLC                   |  | 100.00 | % |  | Nevada     
|Soledad Investors, LLC                     |  | 50.00  | % |  | Nevada     
|T Midland, LLC                             |  | 100.00 | % |  | Nevada     
|T Toulon, LLC                              |  | 100.00 | % |  | Nevada     
|T Townhome Investments, LLC                |  | 100.00 | % |  | Nevada     
|T Polo Estates, Inc.                       |  | 100.00 | % |  | Nevada     
|T Park Central, Inc.                       |  | 100.00 | % |  | Nevada     
|T Whitman, LLC                             |  | 100.00 | % |  | Nevada     
|TCI Adriatic, LLC                          |  | 100.00 | % |  | Nevada     
|TCI Alpenloan, LLC                         |  | 100.00 | % |  | Nevada     
|TCI Amoco Property, LLC                    |  | 100.00 | % |  | Delaware   
|TCI Arbor Pointe, LLC                      |  | 100.00 | % |  | Texas      
|TCI Bridgewood, LLC                        |  | 100.00 | % |  | Nevada     
|TCI Centura Holdings, LLC                  |  | 100.00 | % |  | Nevada     
|TCI Fountains at Waterford, LLC            |  | 100.00 | % |  | Texas      
|TCI Hines Acres, LLC                       |  | 100.00 | % |  | Nevada     
|TCI Ladue, LLC                             |  | 100.00 | % |  | Nevada     
|TCI Luna Ventures, LLC                     |  | 100.00 | % |  | Nevada     
|TCI Meridian Acres, LLC                    |  | 100.00 | % |  | Nevada     
|TCI Pantaze, LLC                           |  | 100.00 | % |  | Nevada     
|TCI Payne North Land, LLC                  |  | 100.00 | % |  | Nevada     
|TCI Ridgepoint, LLC                        |  | 100.00 | % |  | Nevada     
|TCI Sunchase Apartments, LLC               |  | 100.00 | % |  | Texas      
|TCI Texas Properties, LLC                  |  | 100.00 | % |  | Nevada     
|TCI Thornwood Apartments, LLC              |  | 100.00 | % |  | Texas      
|TCI VR, LLC                                |  | 100.00 | % |  | Nevada     
|Thornwood Land and Cattle, LLC             |  | 100.00 | % |  | Nevada     



---

|                          |  |           |   |  |             
|------------------------- |  | --------- | - |  | ------------
|Name of Entity            |  | Ownership |   |  | Jurisdiction
|Three Hickory Center, LLC |  | 100.00    | % |  | Nevada      
|Travis Ranch, LLC         |  | 100.00    | % |  | Nevada      

Partnerships (including direct and indirect ownership through subsidiaries)

|                                          |  |        |   |  |               
|----------------------------------------- |  | ------ | - |  | --------------
|288 City Park Apartments, LTD             |  | 99.00  | % |  | Texas         
|30 Castleglen Estates Apartments, LP      |  | 99.00  | % |  | Texas         
|35 Timberland Apts., LTD.                 |  | 99.00  | % |  | Texas         
|Adams Properties Associates               |  | 0.01   | % |  | Georgia       
|Anderson Estates, LP                      |  | 0.01   | % |  | Mississippi   
|Blue Lake Properties II, LTD              |  | 99.00  | % |  | Texas         
|Blue Lake Properties, LTD                 |  | 99.00  | % |  | Texas         
|Bluffs at Vista Ridge, LTD                |  | 100.00 | % |  | Texas         
|Breakwater Bay, LTD                       |  | 99.00  | % |  | Texas         
|BW Apartments, LP                         |  | 49.00  | % |  | Texas         
|Capitol Hill Limited Partnership          |  | 99.00  | % |  | Arkansas      
|Cary Associates Limited Partnership       |  | 98.00  | % |  | North Carolina
|Cascades Apartments, LTD                  |  | 99.00  | % |  | Texas         
|Dakota Arms, LTD                          |  | 99.00  | % |  | Texas         
|David L. Jordan Apartments Phase II, L.P. |  | 0.01   | % |  | Mississippi   
|DeSoto Apartments, LTD                    |  | 99.00  | % |  | Texas         
|DeSoto Ridge Apartments, LTD              |  | 24.00  | % |  | Texas         
|Echo Valley Properties, LTD               |  | 99.00  | % |  | Texas         
|El Chaparral National Associates, LP      |  | 99.00  | % |  | Texas         
|El Paso Legends, LTD                      |  | 99.00  | % |  | Texas         
|Falcon Lakes, LTD                         |  | 99.00  | % |  | Texas         
|FW Verandas at City View, LTD             |  | 99.00  | % |  | Texas         
|Garden Centura, LP                        |  | 5.00   | % |  | Texas         
|Garden Foxwood, LP                        |  | 100.00 | % |  | Delaware      
|Heather Creek Apartments Mesquite, LTD    |  | 99.00  | % |  | Texas         
|Indcon, LP                                |  | 1.00   | % |  | Georgia       
|Kinsey Bridges, LTD                       |  | 99.00  | % |  | Texas         
|KLP Clay Desta Apartments, LP             |  | 99.00  | % |  | Texas         
|KLP Dorado Ranch Apartments, LP           |  | 99.00  | % |  | Texas         
|KLP Sugar Mill Apartments, LP             |  | 24.00  | % |  | Texas         
|KLP Toulon Apartments, LP                 |  | 24.00  | % |  | Mississippi   
|Laguna at Mira Lago, LTD                  |  | 24.00  | % |  | Texas         
|Lake Forest AM, LTD                       |  | 99.00  | % |  | Texas         
|Lakeview at Pecan Creek Apartments, LTD   |  | 24.00  | % |  | Texas         
|Limestone Vista Ridge Apartments, LTD     |  | 100.00 | % |  | Texas         
|Longfellow Arms Apartments, LTD           |  | 24.00  | % |  | Texas         
|Loyal Windsong of Fort Worth, LTD         |  | 99.00  | % |  | Texas         
|Mansions of Mansfield Apartments, LTD     |  | 99.00  | % |  | Texas         
|Marina Landing, LP                        |  | 49.00  | % |  | Texas         
|Mason Kingsland Apartments, LP            |  | 99.00  | % |  | Texas         
|Mason Park, LTD                           |  | 99.00  | % |  | Texas         
|Metra Arbor Pointe, LP                    |  | 14.64  | % |  | Delaware      
|Metra Brighton Court, LP                  |  | 14.64  | % |  | Delaware      
|Metra Cross Pool 1, LP                    |  | 14.64  | % |  | Delaware      
|Metra Cross Pool 2, LP                    |  | 14.64  | % |  | Delaware      
|Metra Delmar Valley, LP                   |  | 14.64  | % |  | Delaware      
|Metra Enclave, LP                         |  | 14.64  | % |  | Delaware      
|Metra Fairway View, LP                    |  | 14.64  | % |  | Delaware      
|Metra Fountain Lake, LP                   |  | 14.64  | % |  | Delaware      



---

|                                       |  |           |   |  |             
|-------------------------------------- |  | --------- | - |  | ------------
|Name of Entity                         |  | Ownership |   |  | Jurisdiction
|Metra Harpers Ferry, LP               |  | 14.64     | % |  | Delaware    
|Metra Meridian, LP                     |  | 14.64     | % |  | Delaware    
|Metra Quail Oaks, LP                   |  | 14.64     | % |  | Delaware    
|Metra Sunchase, LP                     |  | 14.64     | % |  | Delaware    
|Metra Westwood, LP                     |  | 14.64     | % |  | Delaware    
|Metra Willow Creek, LP                 |  | 14.64     | % |  | Delaware    
|Metra Wood Hollow, LP                  |  | 14.64     | % |  | Delaware    
|Monticello Estates, LP                 |  | 0.01      | % |  | Arkansas    
|Mountain Home Associates, LP           |  | 9.98      | % |  | New York    
|Nakash Income Associates               |  | 60.00     | % |  | Georgia     
|Northside on Travis, LTD               |  | 24.00     | % |  | Texas       
|Pacific Galveston Properties, LP       |  | 49.00     | % |  | Texas       
|Parc at Clarksville, LP                |  | 24.00     | % |  | Tennessee   
|Parc at Denham Springs, LP             |  | 24.00     | % |  | Louisiana   
|Parc at Grand Prairie, LP              |  | 99.00     | % |  | Texas       
|Parc at Maumelle, LP                   |  | 99.00     | % |  | Arkansas    
|Parc at Metro Center II, LP            |  | 24.00     | % |  | Tennessee   
|Parc at Metro Center, LP               |  | 99.00     | % |  | Tennessee   
|Parc at Rogers, LP                     |  | 99.00     | % |  | Arkansas    
|Pecan Pointe, LTD                      |  | 24.00     | % |  | Texas       
|Plum Creek Apartments, LTD             |  | 24.00     | % |  | Texas       
|Riverwalk Apartments, LP               |  | 0.01      | % |  | Mississippi 
|SA Spanish Trail, LTD                  |  | 99.00     | % |  | Texas       
|Sendero Ridge, LTD                     |  | 100.00    | % |  | Texas       
|Signature Athletic Limited Partnership |  | 100.00    | % |  | Texas       
|Spyglass of Mansfield, LTD             |  | 99.00     | % |  | Texas       
|TCI Eton Square, LP                    |  | 90.00     | % |  | Texas       
|TCI Woodmont Group III, LP             |  | 75.00     | % |  | Texas       
|TCI Woodmont Group IV, LP              |  | 75.00     | % |  | Texas       
|TCI Woodmont Group V, LP               |  | 75.00     | % |  | Texas       
|TCI Woodmont Group VII, LP             |  | 75.00     | % |  | Texas       
|Tivoli Midway, LTD                     |  | 99.00     | % |  | Texas       
|Verona Villa Apartments, LTD           |  | 24.00     | % |  | Texas       
|Vistas of Pinnacle Park, LTD           |  | 99.00     | % |  | Texas       
|Vistas of Vance Jackson, LTD           |  | 99.00     | % |  | Texas       
|Westgrove Air Plaza, LTD               |  | 100.00    | % |  | Texas       
|Wildflower Villas, LTD                 |  | 99.00     | % |  | Texas       
|Woodmont TCI Group IX, LP              |  | 75.00     | % |  | Texas       
|Woodmont TCI Group VIII, LP            |  | 75.00     | % |  | Texas       
|Woodmont TCI Group X, LP               |  | 75.00     | % |  | Texas       
|Woodmont TCI Group XI, LP              |  | 75.00     | % |  | Texas       
|Woodmont TCI Group XII, LP             |  | 75.00     | % |  | Texas       
|Woodmont TCI Group XIII, LP            |  | 75.00     | % |  | Texas       
|Woodmont TCI Group XIV, LP             |  | 75.00     | % |  | Texas       



|* | A list of all subsidiaries of Income Opportunity Realty Investors (IOT) is filed as exhibit 21.1 to IOTs Annual Report on Form 10-K for the fiscal year ended December 31,
2008 which was filed with the Commission on March 31, 2009 and is incorporated by reference herein.
|- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|** | Transcontinental Realty Investors, Inc. owns 48.8%, American Realty Investors, Inc. owns 31.3% and Income Opportunity Realty Investors, Inc. owns 19.9%.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------