| · | Alturas      del Senorial Associates Limited Partnership, a Maryland limited      partnership |
|--------|-----------------------------------------------------------------------------------------------|
| · | American      Community Properties Trust, a Maryland business  trust                          |

| · | American      Housing Management Company, a Delaware corporation       |
|--------|------------------------------------------------------------------------|
| · | American      Housing Properties L.P., a Delaware limited  partnership |

| · | American      Land Development U.S., Inc., a Maryland corporation |
|--------|-------------------------------------------------------------------|
| · | American      Rental Management Company, a Delaware  corporation  |

| · | American      Rental Properties Trust, a Maryland real estate investment      trust |
|--------|-------------------------------------------------------------------------------------|
| · | Bannister      Associates Limited Partnership, a Maryland limited    partnership    |

| · | Bayamon      Garden Associates Limited Partnership, a Maryland limited      partnership |
|--------|-----------------------------------------------------------------------------------------|
| · | Carolina      Associates Limited Partnership S. E., a Maryland limited      partnership |

| · | Coachman's      Apartments LLC, a Maryland liability company                                 |
|--------|----------------------------------------------------------------------------------------------|
| · | Colinas      de San Juan Associates Limited Partnership, a Maryland limited      partnership |

| · | Crossland      Associates Limited Partnership, a Maryland limited    partnership |
|--------|----------------------------------------------------------------------------------|
| · | Escorial      Office Building I, Inc., a Puerto Rico  corporation                |

| · | Essex      Apartments Associates, a Virginia limited partnership      |
|--------|-----------------------------------------------------------------------|
| · | Fox      Chase Apartments, LLC, a Maryland limited liability  company |

| · | Gleneagles      Apartments, LLC, a Delaware limited liability company                 |
|--------|---------------------------------------------------------------------------------------|
| · | Headen      House Associates Limited Partnership, a Maryland limited      partnership |
| · | Huntington      Associates Limited Partnership, a Maryland limited    partnership     |

| · | IGP      Group Corp., a Puerto Rico corporation                         |
|--------|-------------------------------------------------------------------------|
| · | Interstate      Commercial Properties, Inc., a Puerto Rico  corporation |

| · | Interstate      General Properties Limited Partnership S.E., a Maryland limited      partnership |
|--------|--------------------------------------------------------------------------------------------------|
| · | Jardines      de Caparra Associates Limited Partnership, a Maryland limited      partnership     |

| · | Lancaster      Apartments Limited Partnership, a Maryland limited    partnership |
|--------|----------------------------------------------------------------------------------|
| · | LDA      Group, a Delaware limited liabilitycompany                              |

| · | Land      Development Associates S.E., a Puerto Rico partnership   |
|--------|--------------------------------------------------------------------|
| · | Milford      Station I, LLC, a Delaware limited liability  company |

| · | Milford      Station II, LLC, a Delaware limited liability company                |
|--------|-----------------------------------------------------------------------------------|
| · | Monserrate      Associates Limited Partnership, a Maryland limited    partnership |

| · | New      Forest Apartments LLC, a Maryland limited liability  company |
|--------|-----------------------------------------------------------------------|
| · | Nothingham      South, LLC, a Delaware limited liabilitycompany       |

| · | Owings      Chase, LLC, a Delaware limited liability company                               |
|--------|--------------------------------------------------------------------------------------------|
| · | Palmer      Apartments Associates Limited Partnership, a Maryland limited      partnership |

| · | Prescott      Square, LLC, a  Delaware limited liability    company |
|--------|-------------------------------------------------------------------------------|
| · | San      Anton Associates, a Massachusetts limited  partnership               |

| · | St.      Charles Community, LLC, a Delaware limited liability    company       |
|--------|--------------------------------------------------------------------------------|
| · | Sheffield      Greens Apartments, LLC, a Delaware limited liability    company |

| · | Torres      del Escorial, Inc., a Puerto Rico corporation                          |
|--------|------------------------------------------------------------------------------------|
| · | Turabo      Limited Dividend Partnership, a Massachusetts limited      partnership |

| · | Valle      del Sol Associates Limited Partnership, a Maryland limited      partnership |
|--------|----------------------------------------------------------------------------------------|
| · | Village      Lake Apartments LLC, a Maryland liability  company                        |

| · | Wakefield      Terrace Associates Limited Partnership, a Maryland limited      partnership   |
|--------|----------------------------------------------------------------------------------------------|
| · | Wakefield      Third Age Associates Limited Partnership, a Maryland limited      partnership |

| · | Brookside      Gardens Limited Partnership, a Maryland limited  partnership |
|--------|-----------------------------------------------------------------------------|
| · | ELI      GP, Inc., a Puerto Rico corporation                                |

| · | ELI      S.E., a Puerto Rico special partnership                                |
|--------|---------------------------------------------------------------------------------|
| · | Lakeside      Apartments Limited Partnership, a Maryland limited    partnership |

| · | Surrey      Homes, LLC, a Florida limited liabilitycompany |
|--------|------------------------------------------------------------|