**Exhibit        21.1**

**List        of Subsidiaries of CapLease, Inc.**

**As        of December 31, 2007**

| **Entity**                                           | **State                  of Incorporation****or                  Formation** |
|------------------------------------------------------|------------------------------------------------------------------------------|
| Caplease,                  LP                        | Delaware                                                                     |
| CLF                  OP General Partner LLC          | Delaware                                                                     |
| Caplease                  Services Corp.             | Delaware                                                                     |
| CLF                  Ridley Park Business Trust      | Virginia                                                                     |
| CLF                  VA Ponce LLC                    | Delaware                                                                     |
| CLF                  1000 Milwaukee Avenue LLC       | Delaware                                                                     |
| CLF                  555 N Daniels Way LLC           | Delaware                                                                     |
| CLF                  Bobs Randolph LLC               | Delaware                                                                     |
| KDC                  Busch Boulevard LLC             | Delaware                                                                     |
| Columbia                  Pike I, LLC                | Delaware                                                                     |
| CLF                  Parsippany LLC                  | Delaware                                                                     |
| Caplease                  Credit LLC                 | Delaware                                                                     |
| EVA                  LLC                             | Delaware                                                                     |
| CapLease                  Investment Management, LLC | Delaware                                                                     |
| Caplease                  CDO 2005-1, Ltd.           | Cayman                  Islands                                              |
| Caplease                  CDO 2005-1 Corp.           | Delaware                                                                     |
| WG                  Investors New Jersey Trust       | Delaware                                                                     |
| CA                  Portsmouth Investment Trust      | Delaware                                                                     |
| CLF                  Herndon LLC                     | Delaware                                                                     |
| CLF                  Aliso Viejo Business Trust      | Virginia                                                                     |
| CLF                  Rapp Irving LP                  | Delaware                                                                     |
| CLF                  Rapp Irving GP LLC              | Delaware                                                                     |
| CLF                  Tollway Plano LP                | Delaware                                                                     |
| CLF                  Tollway Plano GP LLC            | Delaware                                                                     |
| CLF                  DEA Birmingham LLC              | Delaware                                                                     |
| CLF                  FBI Birmingham LLC              | Delaware                                                                     |
| CLF                  EPA Kansas City LLC             | Delaware                                                                     |
| CLF                  OSHA Sandy LLC                  | Delaware                                                                     |
| CLF                  SSA Austin LP                   | Delaware                                                                     |
| CLF                  SSA Austin GP LLC               | Delaware                                                                     |
| KDC                  Norman Woods Business Trust     | Virginia                                                                     |
| CLF                  6116 GP LLC                     | Delaware                                                                     |

----

| **Entity**                                                       | **State                  of Incorporation****or                  Formation** |
|------------------------------------------------------------------|------------------------------------------------------------------------------|
| Capital                  Property Associates Limited Partnership | Maryland                                                                     |
| CLF                  Sylvan Way LLC                              | Delaware                                                                     |
| CLF                  EPA Member LLC                              | Delaware                                                                     |
| CLF                  OSHA Member LLC                             | Delaware                                                                     |
| CLF                  Mercer Island LLC                           | Delaware                                                                     |
| CLF                  Electric Road Roanoke LLC                   | Delaware                                                                     |
| CLF                  McCullough Drive Charlotte LLC              | Delaware                                                                     |
| Caplease                  Statutory Trust I                      | Delaware                                                                     |
| CLF                  Red Lion Road Philadelphia Business Trust   | Virginia                                                                     |
| CLF                  South Monaco Denver LLC                     | Delaware                                                                     |
| CLF                  Greenway Drive Lawrence LLC                 | Delaware                                                                     |
| CLF                  Noria Road Lawrence LLC                     | Delaware                                                                     |
| CLF                  New Falls Business Trust                    | Virginia                                                                     |
| Caplease                  Debt Funding, LP                       | Delaware                                                                     |
| CLF                  TW Milwaukee LLC                            | Delaware                                                                     |
| CLF                  Wyomissing Business Trust                   | Virginia                                                                     |
| CLF                  FBI Albany LLC                              | Delaware                                                                     |
| CLF                  Fresno Business Trust                       | Virginia                                                                     |
| CLF                  Grassmere Nashville LLC                     | Delaware                                                                     |
| CLF                  Arlington LP                                | Delaware                                                                     |
| CLF                  Arlington GP LLC                            | Delaware                                                                     |
| CLF                  JCI Florida LLC                             | Delaware                                                                     |
| CLF                  Simi Valley Business Trust                  | Virginia                                                                     |
| CLF                  Galena Simi Business Trust                  | Virginia                                                                     |
| CLF                  Yolo County Business Trust                  | Virginia                                                                     |
| CLF                  Fort Worth LP                               | Delaware                                                                     |
| CLF                  Forth Worth GP LLC                          | Delaware                                                                     |
| CLF                  Holding Company, LLC                        | Delaware                                                                     |
| CLF                  Real Estate LLC                             | Delaware                                                                     |
| Walters                  Connecticut Venture Trust               | N.A.                                                                         |
| PREFCO                  II GP LLC                                | Delaware                                                                     |
| PREFCO                  II Limited Partnership                   | Connecticut                                                                  |
| PREFCO                  Dix-Neuf LLC                             | Connecticut                                                                  |

----

| **Entity**                                                   | **State                  of Incorporation****or                  Formation** |
|--------------------------------------------------------------|------------------------------------------------------------------------------|
| PREFCO                  Nineteen Limited Partnership         | Connecticut                                                                  |
| CLF                  Landmark Omaha LLC                      | Delaware                                                                     |
| CLF                  Dodge Omaha LLC                         | Delaware                                                                     |
| PREFCO                  Onze LLC                             | Connecticut                                                                  |
| CLF                  Fort Wayne LLC                          | Delaware                                                                     |
| CLF                  Lathrop Business Trust                  | Virginia                                                                     |
| CLF                  Breinigsville Holding Company LLC       | Delaware                                                                     |
| PREFCO                  Fifteen GP LLC                       | Connecticut                                                                  |
| PREFCO                  Fifteen Holdings Limited Partnership | Connecticut                                                                  |
| PREFCO                  Quinze LLC                           | Connecticut                                                                  |
| CLF                  Breinigsville Business Trust            | Virginia                                                                     |
| CapLease                  2007-STL LLC                       | Delaware                                                                     |

----