----

| ·   | 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, a Maryland limited                partnership |
|--------------------|-------------------------------------------------------------------------------------------------------|

| ·   | Coachman's                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 |
|--------------------|-----------------------------------------------------------------------------------------------|

| ·   | 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 liability                company |
|--------------------|-------------------------------------------------------------------------------|

| ·   | 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 Apartments, LLC, a Delaware limited liability                company |
|--------------------|------------------------------------------------------------------------------------------------------|

| ·   | 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 |
|--------------------|-------------------------------------------------------------------------------------------------------|

| ·   | St.                Charles Active Adult Community, L.L.C., a Maryland limited liability                company |
|--------------------|----------------------------------------------------------------------------------------------------------------|