| 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                                                |
| 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                                                |

----