**EXHIBIT      21.1**

**List      of Subsidiaries of Capital Lease Funding, Inc.**

**As      of December 31, 2006**

| **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 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                                                                     |
| Capital                  Property Associates Limited Partnership |   | Maryland                                                                     |
| CLF                  Sylvan Way 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                  Wyomissing Business Trust                   |   | Virginia                                                                     |
| CLF                  TW Milwaukee LLC                            |   | Delaware                                                                     |
| 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                                                                     |

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