Exhibit 21.1  Entity
  Name:
  
  State/Country of
  Formation:1673732
  Ontario Limited
  
  Canada508
  Venture One, L.P.
  
  PennsylvaniaAinsworth
  Apartments I Limited Partnership
  
  NebraskaAkasaka
  Residential GK
  
  JapanAli
  Property Partners Holdings Corporation
  
  PhilippinesAntigo
  Affordable Housing Limited Partnership
  
  WisconsinApartment
  Properties Income and Growth Fund I, LLC
  
  DelawareApollo-GMAC
  Real Estate Mezzanine Fund, L.P.
  
  DelawareArbors-Warner
  General Partner LLC
  
  DelawareArdennes
  Investments,Y.K.
  
  JapanArlington
  Property KK
  
  JapanArrow
  Wood Apartments Gp LLC
  
  DelawareArrow
  Wood Apartments LP
  
  DelawareAshCap
  Investment Properties Limited
  
  JerseyAshley
  House Limited
  
  JerseyAshley
  Meadows At White Oak, LP
  
  North
  CarolinaAspen
  Square Hudson Limited Partnership
  
  WisconsinAtlantech
  Charter Colony, LLC
  
  VirginiaAtlantech
  Twin Hickory, LLC
  
  VirginiaAtsugi
  Telecom Park Ltd.
  
  JapanBandai
  Property GK
  
  JapanBelton
  Missouri Development Corporation
  
  MinnesotaBerkley
  Property KK
  
  JapanBethesda
  Metro Center Holdings, LLC
  
  MarylandBethesda
  Metro Center Office REIT
  
  DelawareBlair
  Housing Partners, Inc.
  
  NebraskaBoathouse, Inc.
  
  MinnesotaBowa
  Legacy Asset Management Co., Ltd.
  
  TaiwanBowa
  Recap Co., Ltd.
  
  TaiwanBREVARD
  FL Equity Investments, Inc.
  
  DelawareBREVARD
  FL Retail, LLC
  
  DelawareBuena Vista Apartments Gp LLC
  
  DelawareBuena
  Vista Apartments LP
  
  DelawareC
  Investment KK
  
  JapanCahaba
  Leverage Fund LLC
  
  DelawareCantabria
  Investments Limited
  
  GuernseyCapmark
  CDF Subfund VI LLC
  
  DelawareCapmark
  CDF Subfund VII LLC
  
  DelawareCapmark
  CDF Subfund VIII LLC
  
  DelawareCapmark
  CDF Subfund II LLC
  
  DelawareCapmark
  CDF Subfund III LLC
  
  DelawareCapmark
  AB No. 1 Ltd.
  
  IrelandCapmark
  AB No. 2 Ltd.
  
  IrelandCapmark Activos I, S. de R.L. de C.V.
  
  MexicoCapmark Activos III, S de R.L de C.V.
  
  MexicoCapmark
  Asia Limited Company
  
  TaiwanCapmark
  Asset Corp.
  
  Delaware


Capmark
  Asset Management GmbH
  
  GermanyCapmark
  Bank
  
  UtahCapmark
  Bank Europe, Public Limited Company
  
  IrelandCapmark
  BCF LLC
  
  DelawareCapmark
  Canada Limited
  
  OntarioCapmark
  Capital Inc.
  
  ColoradoCapmark
  Capital Markets (Canada) Inc.
  
  CanadaCapmark
  Carried Interest, LLC
  
  DelawareCapmark
  CDF Subfund I LLC
  
  DelawareCapmark
  CDF Subfund IV Leverage Fund LLC
  
  DelawareCapmark
  CDF Subfund IV LLC
  
  DelawareCapmark
  CDF Subfund IX, LLC
  
  DelawareCapmark
  CDF Subfund V LLC
  
  DelawareCapmark
  CDF Subfund X, LLC
  
  DelawareCapmark
  CDF Subfund XI, LLC
  
  DelawareCapmark
  CDF Subfund XII, LLC
  
  DelawareCapmark
  CDF Subfund XIII, LLC
  
  DelawareCapmark
  CDF Subfund XIV, LLC
  
  DelawareCapmark
  CDF Subfund XV, LLC
  
  DelawareCapmark
  CDF Subfund XVI, LLC
  
  DelawareCapmark
  CDF Subfund XVII, LLC
  
  DelawareCapmark
  CDF Subfund XVIII, LLC
  
  DelawareCapmark
  CDF Subfund XIX, LLC
  
  DelawareCapmark
  CDF Subfund XX, LLC
  
  DelawareCapmark
  CDF Subfund XXI, LLC
  
  DelawareCapmark
  CDF Subfund XXII, LLC
  
  DelawareCapmark
  CDF Subfund XXIII, LLC
  
  DelawareCapmark
  Commercial Realty Advisors, L.P.
  
  DelawareCapmark
  Commercial Realty II Incentive Vehicle, L.P.
  
  DelawareCapmark
  Commercial Realty III Incentive Vehicle, L.P.
  
  DelawareCapmark
  Commercial Realty IIA (REIT), Inc.
  
  MarylandCapmark
  Commercial Realty Partners II, L.P.
  
  DelawareCapmark
  Commercial Realty Partners IIA (REIT), L.P.
  
  DelawareCapmark
  Commercial Realty Partners III, L.P.
  
  DelawareCapmark
  Commercial Realty Partners, L.P.
  
  DelawareCapmark
  Community Development Fund, LLC
  
  DelawareCapmark
  EI Ireland Limited
  
  IrelandCapmark
  EI Jersey Holdings Limited
  
  JerseyCapmark
  EI Jersey Portfolio Limited
  
  JerseyCapmark
  EI Luxembourg SARL
  
  LuxembourgCapmark
  Finance Inc.
  
  CaliforniaCapmark
  France SAS
  
  FranceCapmark
  Funding Europe p.l.c.
  
  IrelandCapmark
  Funding Japan KK
  
  JapanCapmark
  Funding KK
  
  JapanCapmark
  Germany GmbH
  
  GermanyCapmark
  Holdings Ireland Limited
  
  IrelandCapmark
  Investment Consulting (Shangai) Company Limited
  
  ChinaCapmark
  Investment Holding LLC
  
  DelawareCapmark
  Investment Management KK
  
  JapanCapmark
  Investments Advisors KK
  
  JapanCapmark
  Investments Europe Limited
  
  EnglandCapmark
  Investments KK
  
  JapanCapmark
  Investments LP
  
  DelawareCapmark
  Investments Structured Fund GP LLC
  
  DelawareCapmark
  Ireland Limited
  
  Ireland


Capmark
  Japan KK
  
  JapanCapmark
  Jersey Funding Limited
  
  JerseyCapmark
  JPN KK
  
  JapanCapmark
  Lothian No.1 LP
  
  United
  KingdomCapmark Mexico Holding S. de R.L. de C.V.
  
  MexicoCapmark
  Mortgage Securities Inc.
  
  DelawareCapmark
  Municipal Mortgage Trust
  
  DelawareCapmark
  Overseas Processing India Private Limited
  
  IndiaCapmark
  Philippines Ltd.
  
  Cayman
  IslandsCapmark
  Real Estate Mezzanine Gp LLC
  
  DelawareCapmark
  Resources Canada Limited
  
  OntarioCapmark
  Securities Inc.
  
  ColoradoCapmark
  Services Ireland Limited
  
  IrelandCapmark
  Services KK
  
  JapanCapmark
  Services UK Limited
  
  EnglandCapmark
  Services, Inc.
  
  DelawareCapmark
  Structured Fund Carried Interest, L.P.
  
  DelawareCapmark
  Structured Gp, L.P.
  
  DelawareCapmark
  Structured Real Estate Fund Incentive Vehicle, L.P.
  
  DelawareCapmark
  Structured Real Estate Ltd.
  
  Cayman
  IslandsCapmark
  Structured Real Estate Partners, L.P.
  
  DelawareCapmark
  Structured Real Estate Reit, Inc.
  
  MarylandCapmark
  Structured Real Estate Taxable Reit, Inc.
  
  DelawareCapmark
  Subfund III Leverage Fund LLC
  
  DelawareCapmark
  Subfund V Leverage Fund LLC
  
  DelawareCapmark
  Subfund VI Leverage Fund LLC
  
  DelawareCapmark
  Subfund VII Leverage Fund LLC
  
  DelawareCapmark
  Suzhou Retail Properties Co., Ltd.
  
  ChinaCapmark
  Trust
  
  DelawareCapmark
  UK Limited
  
  United
  KingdomCapmark
  UK Realty Incentive Vehicle LLC
  
  DelawareCapmark
  UK Realty Partners Jersey Limited
  
  JerseyCapmark
  UK Realty Partners LP
  
  DelawareCapmark
  VI LTD
  
  Cayman
  IslandsCapmark
  VII - CRE Ltd.
  
  Cayman
  IslandsCapmark
  Yugen Sekinin Chukan Hojin JPN
  
  JapanCardiff
  Investment Properties Limited
  
  JerseyCaspita
  Protech 107 Special, L.P.
  
  OhioCDF
  Development Louisville Leverage Fund, LLC
  
  DelawareCDF
  Development Louisville, LLC
  
  DelawareCEI
  Bethesda Metro Center LLC
  
  DelawareCEI Metro Center Investor LLC
  
  DelawareCEI
  Partners, L.P.
  
  DelawareCEI
  Portfolio Investors, LLC
  
  DelawareCG
  Investments, Y.K.
  
  JapanCGRF
  Subsidiary One Leverage Fund LLC
  
  DelawareClarendon
  Property KK
  
  JapanClearwater
  Austin Apartments GP LLC
  
  DelawareClearwater
  Austin Apartments LP
  
  DelawareCM
  Investment Assets GK
  
  JapanCoefact
  S.A. de C.V.
  
  MexicoColby
  Apartments I Limited Partnership
  
  KansasCommercial
  Asset Trading, Inc.
  
  Delaware


Commercial
  Equity Investments, Inc.
  
  PennsylvaniaCommercial
  Mortgage Funding LLC (1999-A)
  
  DelawareCommercial
  Realty Advisors II, L.P.
  
  DelawareCommercial
  Realty Advisors III, L.P.
  
  DelawareCommercial
  Realty Manager IIA(Reit), Inc.
  
  MarylandCommercial
  Realty TRS IIA (REIT), Inc.
  
  DelawareCottages
  of Hastings, Ltd.
  
  NebraskaCP
  Corporation KK
  
  JapanCrystal
  Ball Holding of Bermuda Limited
  
  BermudaCrystal
  Capital GK
  
  JapanCrystal
  City Partners LLC
  
  DelawareCSREP
  Beta, Inc.
  
  DelawareCSREP
  LV Sub, LLC
  
  DelawareCSREP
  RP Finance, LLC
  
  DelawareDeanshield
  L.P.
  
  United
  KingdomDelphi
  I Asset Holding LLC
  
  DelawareDelphi
  Servicing Holding Limited
  
  EnglandDexter
  Circle Investors Limited
  
  BermudaDGF, Inc.
  
  MinnesotaDial
  National of Pleasant Hills, L.P.
  
  DelawareDominion
  Apartments Gp LLC
  
  DelawareDominion
  Apartments LP
  
  DelawareEastland
  International Holdings Ltd.
  
  Hong
  KongEdison
  Park Holdings Limited
  
  JerseyEdison
  Park LP
  
  United
  KingdomEmerald
  Investments International, Inc.
  
  British
  Virgin IslandsEnclave
  Apartments Gp LLC
  
  DelawareEnclave
  Apartments LP
  
  DelawareEscrow
  Bank USA
  
  UtahFairview
  Terrace Holding Limited
  
  BermudaFilipinas
  Investments Ltd.
  
  Cayman
  IslandsFlaming
  Cove Limited
  
  BermudaFontainebleau
  One Investment Company Ltd.
  
  Cayman
  IslandsFormosa
  Asset Management Co., Ltd.
  
  TaiwanFranklin
  Drive Investors Limited
  
  BermudaFresno
  Portfolio Investors LLC
  
  DelawareFuji
  Property GK
  
  JapanFund
  II Equity Investments LLC
  
  DelawareG
  Funds Asset Management, LLC
  
  DelawareCapmark
  Investments Asia KK
  
  JapanG
  Investment Holding Y.K.
  
  JapanG1
  Yugen Sekinin Chukan Hojin
  
  JapanG2
  Opportunity GP, LLC
  
  DelawareG3
  GP, LLC
  
  DelawareG3
  Strategic Investments LP
  
  DelawareGAHTCF
  Holdings II, LLC
  
  DelawareGAHTCF
  Holdings, LLC
  
  Delaware


Garden
  Apartments Development Corp.
  
  TexasGarfield
  Drive Limited
  
  BermudaGH
  Operations, Y.K.
  
  JapanGH
  Properties, Y.K.
  
  JapanGlennMac
  Limited
  
  JerseyGMACCHCC
  SA Holding Trust
  
  DelawareGP
  Corporation,Y.K.
  
  JapanGP
  Investment,Y.K.
  
  JapanGP
  Properties, Y.K.
  
  JapanGP
  Realty,Y.K.
  
  JapanGranite
  Investments One SPV - AMC Inc.
  
  PhilippinesGranite
  Investments Two SPV - AMC Inc.
  
  PhilippinesGranville
  Manor Townhomes, L.P.
  
  TexasGreen
  Bay Townhouses, LLC
  
  WisconsinGreenwood
  Housing I, Limited Partnership
  
  AlabamaGretna
  Managing Member LLC
  
  DelawareGrey
  Moss Apartments Gp LLC
  
  DelawareGrey
  Moss Apartments LP
  
  DelawareGSPE
  1999-2, LLC
  
  DelawareGulf
  South Community Rebirth Fund IV Leverage Fund LLC
  
  DelawareHakuba
  Property, GK
  
  JapanHarbor
  Parcel B Leverage Fund LLC
  
  DelawareHastings
  Apartments II Limited Partnership
  
  NebraskaHemisphere
  I Limited
  
  AlbertaHemisphere
  II Limited
  
  AlbertaHeritage
  Housing Associates, L.P.
  
  GeorgiaHibiya
  Enterprise K.K.
  
  JapanHighland
  Park Townhouses, L.L.C.
  
  KansasHodaka
  Property GK
  
  JapanHokulani
  Yugen Sekinin Chukan Hojin
  
  JapanHoneywell
  Poole Holdings Limited
  
  JerseyHopeshield
  LP
  
  EnglandHoundhill
  Investment Properties Limited
  
  JerseyHunter
  Road Development, LLC
  
  TexasHyacinth
  Investments Limited
  
  IrelandICMF
  III(CHISOLM), LLC
  
  DelawareIDI
  I-2007 Leverage Fund LLC
  
  DelawareIhilani
  Yugen Sekinin Chukan Hojin
  
  JapanInner
  City Ventures CDE Leverage Fund LLC
  
  DelawareIntegral
  Urban New Markets Fund 11a Cde Leverage Fund LLC
  
  DelawareIshizuchi
  Property, GK
  
  JapanIvybridge
  Investment Properties Limited
  
  JerseyJapan
  Asset Management & Investment Corporation
  
  JapanJapan
  Asset Trading Inc.
  
  Cayman
  IslandsJapan
  Loan Funding Holdings Limited
  
  Cayman
  IslandsKaiser
  Center Investors, LLC
  
  DelawareKalai
  Waa Property Yugen Sekinin Chukan Hojin
  
  JapanKanda
  LLC
  
  DelawareKapua,
  GK
  
  JapanKHC
  New Markets Fund A CDE Leverage Fund LLC
  
  DelawareKirishima
  Property, GK
  
  JapanKohola,Y.K.
  
  JapanKomachi
  Suzume Limited
  
  Cayman
  Islands


Koolau
  Yugen Sekinin Chukan Hojin
  
  JapanKoolau,
  Y.K
  
  JapanLease
  Asset Trading L.L.C. (1999-A)
  
  DelawareLeilani,Y.K.
  
  JapanLenora
  Place Investors Limited
  
  BermudaLexington
  International Limited Company
  
  TaiwanLiberty
  Community Ventures VIII Leverage Fund LLC
  
  DelawareLLM Inversiones I, S.A. de C.V.
  
  MexicoLLM Inversiones II, S.A. de C.V.
  
  MexicoLondon
  Lothian LLC
  
  United
  KingdomLuther
  Place Limited Partnership (Luther Place I & II)
  
  KansasMacon
  Housing I, Limited Partnership
  
  AlabamaMacon
  Housing II, Limited Partnership
  
  AlabamaMahalo,Y.K.
  
  JapanMalama Yugen Sekinin Chukan Hojin
  
  JapanMalama,Y.K.
  
  JapanMark
  Capital China Investment Company Ltd.
  
  Cayman
  IslandsMarkland
  Thorpe Park Investments Limited
  
  GuernseyMarkland
  Thorpe Park Limited
  
  GuernseyMaylands
  Avenue Unit Trust
  
  GuernseyMelrose
  Place Limited
  
  BermudaMercer
  Lane Investors Limited
  
  BermudaMeridian
  Housing I, Limited Partnership
  
  AlabamaMichigan
  Development - Fairview, L.P.
  
  MichiganMichigan
  Development - Glenview, L.P.
  
  MichiganMichigan
  Development - Maple Crest, L.P.
  
  MichiganMichigan
  Housing L.L.C.
  
  IllinoisMichigan
  Housing Limited Partnership
  
  IllinoisMillecare
  LP
  
  EnglandMilwood
  Land Acquisition GP LLC
  
  DelawareMilwood
  Land Acquisition LP
  
  DelawareMITA
  Investments, Inc.
  
  NevadaMK
  Towers,Y.K.
  
  JapanMortgage
  Investments, LLC
  
  DelawareMyles
  Mark Apartments Gp LLC
  
  DelawareMyles
  Mark Apartments LP
  
  DelawareMyoko
  Property GK
  
  JapanNatchez
  Housing I, Limited Partnership
  
  AlabamaNatchez
  Housing II, Limited Partnership
  
  AlabamaNCC
  I Administrative General Partners LLC
  
  DelawareNCC
  I Leverage Fund, LLC
  
  DelawareNet
  Lease Acquisition LLC
  
  DelawareNEWFIG&BEE
  LLC
  
  DelawareNEWJPMCCMSC
  05-LDP2 LLC
  
  DelawareNEWSASCII
  04-C6 LLC
  
  DelawareNew
  Markets Tax Credit Leverage Fund I LLC
  
  DelawareCapmark
  Capital Management LLC
  
  DelawareNewman
  SB Holding Co, LLC
  
  DelawareNewparkridge
  Four Associates LLC
  
  Delaware


Newport
  Finlay Partners, Ltd.
  
  FloridaNMCC
  I Leverage Fund, LLC
  
  DelawareNorikura
  Property, GK
  
  JapanNorth
  Shields Holdings Limited
  
  JerseyNorth
  Shields Investment Properties Limited
  
  JerseyNorthern
  Island Tower
  
  Cayman
  IslandsNOTE
  B SPE, LLC
  
  DelawareNouvelle Societe Financiere Bazin SARL
  
  FranceOlin
  Investments, Y.K.
  
  JapanOlive
  Way Investors Limited
  
  BermudaONeill
  Apartments I, L.P.
  
  NebraskaOval
  Properties Limited
  
  JerseyParkside
  Boulevard Limited
  
  BermudaPeacock
  Place Limited
  
  JerseyPF
  Preferred LLC
  
  DelawarePGL
  One,Y.K.
  
  JapanPhoenix
  Development & Revitalization Leverage Fund, LLC
  
  DelawarePilialoha
  Yugen Sekinin Chukan Hojin
  
  JapanPine
  International Co., Ltd.
  
  TaiwanPinnacle
  Investor LLC
  
  DelawarePioneer
  I LLC
  
  DelawarePlatinum
  Asset Management Limited Company
  
  TaiwanPLG
  Quik Park I, LLC
  
  DelawarePoplar
  Square, Limited Partnership
  
  South
  CarolinaPotomac
  Yard Equity Investments, Inc.
  
  DelawarePremier
  Asset Management Company
  
  JapanPrimrose
  Apartments Neenah, LLC
  
  WisconsinProperty
  Equity Investments, Inc.
  
  DelawareProsit
  Limited
  
  JerseyQuadrant
  Parallel Fund LLC
  
  DelawareRainfall
  Estates Limited
  
  JerseyRealpoint.Com
  LLC
  
  DelawareRecuperadora de Deuda Hipotecaria, S. de
  C.V.
  
  MexicoRegal
  Investments, Inc.
  
  NevadaRiata
  Community Association, Inc.
  
  TexasRiata
  Owners Association, Inc.
  
  TexasRiata
  Property Investors LLC
  
  DelawareRiata
  Property Partners LLC
  
  DelawareRidge
  View Investors Limited
  
  BermudaRoaring
  Fork MP LLC Class A and B Certificates Series 2005-1 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-10 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-11 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-12 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-13 Trust
  
  Delaware


Roaring
  Fork MP LLC Class A and B Certificates Series 2005-14 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-15 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-16 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-17 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-18 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-19 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-2 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-20 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-21 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-22 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-23 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-24 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-3 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-4 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-5 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-6 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-7 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-8 Trust
  
  DelawareRoaring
  Fork MP LLC Class A and B Certificates Series 2005-9 Trust
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-1
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-2
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-3
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-4
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-5
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-6
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-7
  
  DelawareRoaring
  Fork Municipal Products LLC Class A and B Certificates Trust
  Series 2004-8
  
  DelawareRoaring
  Fork Municipal Products LLC Trust Receipts Series MF 2004-1
  
  DelawareRoaring
  Fork Municipal Products LLC Trust Receipts Series MF 2004-2
  
  DelawareRoaring
  Fork Municipal Products, LLC
  
  DelawareRock
  Creek Apartments Gp LLC
  
  DelawareRock
  Creek Apartments LP
  
  DelawareRockwall
  HH, LLC
  
  DelawareSakurano
  Sato Parktown Development KK
  
  JapanSakurazaka
  Property GK
  
  JapanSankyo
  LLC
  
  DelawareShinano
  Property GK
  
  JapanSeacrest
  Investors GP, LLC
  
  DelawareSeacrest
  Investors Managing Member, LLC
  
  DelawareSeacrest
  Investors, LLC
  
  DelawareSedgefield
  LP
  
  GeorgiaSeika
  Investment Corporation
  
  JapanSelect
  Apartment Properties, LLC
  
  DelawareSelect
  Equity Investments, Inc.
  
  DelawareShimura
  Leasing GK
  
  JapanShimura
  Property GK
  
  JapanShinano
  Property GK
  
  Japan


Sibley
  Investments, Y.K.
  
  JapanSIC
  - Lakeside Drive JV, LLC
  
  DelawareSidney
  Apartments II Limited Partnership
  
  NebraskaSilver
  Cove Limited
  
  BermudaSJM
  Cap, LLC
  
  DelawareSPG
  CDE Subfund A Leverage Fund I LLC
  
  DelawareSt.
  Charles Leverage Fund, LLC
  
  DelawareStructured
  Products Group CDE LLC
  
  DelawareSummit
  Crest Ventures, LLC
  
  DelawareSunderland
  Investment Properties Limited
  
  JerseySweet
  Home, Y.K.
  
  JapanSydney
  Investments,Y.K.
  
  JapanTakamiya
  Property, Y.K.
  
  JapanTakarazuka
  Investments, Y.K.
  
  JapanTameike
  Property A, G.K.
  
  JapanTanglewood
  Senior Apartments, LLC
  
  WisconsinTanner
  Investors, Inc.
  
  DelawareTECFRANCE
  
  FranceThe
  Arlington LP
  
  GeorgiaThe
  Harbor Leverage Fund II LLC
  
  DelawareThe
  Harbor Leverage Fund III LLC
  
  DelawareThe
  Waco Gardens Company, Ltd.
  
  TexasThorpe
  Park Investment Properties Limited
  
  JerseyThorpe
  Park Limited Partnership
  
  GuernseyThorpe
  Park Property Unit Trust (LP)
  
  GuernseyTide
  Investments KK
  
  JapanTokachi
  Property, GK
  
  JapanTortoise
  Mall, Y.K.
  
  JapanTown
  Center Commons Gp LLC
  
  DelawareTown
  Center Commons LP
  
  DelawareTravois
  New Markets Project CDE III Leverage Fund LLC
  
  DelawareTravois
  New Markets Project CDE IV Leverage Fund LLC
  
  DelawareTravois
  New Markets Project CDE V Leverage Fund LLC
  
  DelawareTriumph
  Estates Limited
  
  British
  Virgin IslandsUK
  Realty Investors GP, LLC
  
  DelawareUris
  Investments, Y.K.
  
  JapanValentine
  Apartments I Limited Partnership
  
  NebraskaValley
  Drive Investors Limited
  
  BermudaVerona
  Place Limited
  
  BermudaVPN Plus II, S. de R.L. de C.V.
  
  MexicoVPN Plus, S. de R.L. de C.V.
  
  MexicoWalden
  Ridge Limited Partnership
  
  North
  CarolinaWashiba
  Property GK
  
  JapanWashington
  Manor, LLC
  
  Kansas


Washingtonian
  Equity Investments, Inc.
  
  DelawareWashingtonian
  JJB Venture, LLC
  
  DelawareWatchmoor
  Investment Properties Limited
  
  JerseyWatchmore
  Estates Limited
  
  British
  Virgin IslandsWCDLF
  Sub-CDF XX Leverage Fund LLC
  
  DelawareWingate
  Development of DC Limited Partnership
  
  District
  Of ColumbiaWood
  Trail Apartments Gp LLC
  
  DelawareWood
  Trail Apartments LP
  
  DelawareWuxi
  Jinkie Properties Co., Ltd.
  
  ChinaYakushi
  Property GK
  
  JapanYellow
  Orchid Holding Ltd.
  
  Cayman
  IslandsYurakucho
  Investments, Y.K.
  
  Japan  ENTITY
  
  JURISDICTIONAmerican
  Tax Credit Corporate Fund XVII, L.P.
  
  DEAMTAX
  Holdings Corp. Fund (Del.) AMBAC I, LLC
  
  OHAMTAX
  Holdings Corp. Fund (Del.) AMBAC II, LLC
  
  OHAMTAX
  Holdings Corp. Fund (Del.) AMBAC III, LLC
  
  OHAMTAX
  Holdings Corp. Fund (Del.) AMBAC IV, LLC
  
  OHAMTAX
  Holdings Corp. Fund (Del.) AMBAC V, LLC
  
  OHBroadway
  Street 2001, L.P.
  
  DEBroadway
  Street California, L.P.
  
  CABroadway
  Street Georgia I, LLC
  
  DEBroadway
  Street II, L.P.
  
  DEBroadway
  Street III, L.P.
  
  DEBroadway
  Street IV, L.P.
  
  DEBroadway
  Street IX, L.P.
  
  DEBroadway
  Street L.P.
  
  DEBroadway
  Street V, L.P.
  
  DEBroadway
  Street VI, L.P.
  
  DEBroadway
  Street VII L.P.
  
  DEBroadway
  Street VIII, L.P.
  
  DEBroadway
  Street X, L.P.
  
  DEBroadway
  Street XI, L.P.
  
  DEBroadway
  Street XII, L.P.
  
  DEBroadway
  Street XIV, L.P.
  
  DEBroadway
  Street XIX, L.P.
  
  DEBroadway
  Street XV, L.P.
  
  DEBroadway
  Street XVI, L.P.
  
  DEBroadway
  Street XVII, L.P.
  
  DEBroadway
  Street XVIII, L.P.
  
  DEBroadway
  Street XX, L.P.
  
  DE


ENTITY
  
  JURISDICTIONCapmark
  Affordable Equity Holdings Inc.
  
  COCapmark
  Affordable Equity Inc.
  
  DECapmark
  Affordable Properties Inc.
  
  DECapmark
  Affordable Realty Advisors LLC
  
  OHCapmark
  Holdings Corp. Fund (Del.) 4.5 LLC
  
  DEGMAC
  Guaranteed Northeastern Tax Credit Fund, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund 30, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund 31, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund 33, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund III, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund XII, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund XIV, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund XV, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund XVIII, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund XXIII, LLC
  
  DEGMAC
  Guaranteed Tax Credit Fund XXIV, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund II, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund IV, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund IX, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund V, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund VI, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund VII, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund VIII, LLC
  
  DEGMACCH
  Guaranteed Tax Credit Fund XI, LLC
  
  DEGuaranteed
  Affordable Housing Tax Credit Fund II, LLC
  
  DEGuaranteed
  Affordable Housing Tax Credit Fund, LLC
  
  DEHastings,
  Nebraska Development Corp.
  
  MN  ENTITY
  
  JURISDICTIONLivermore
  Senior Housing Associates LLC
  
  CALivermore
  Senior Living Associates, LP
  
  CAMS
  Guaranteed Tax Credit Fund XIV, LLC
  
  DEMS
  Guaranteed Georgia Tax Credit Fund II, LLC
  
  DEMS
  Guaranteed Georgia Tax Credit Fund III, LLC
  
  DEMS
  Guaranteed Georgia Tax Credit Fund IV, LLC
  
  DEMS
  Guaranteed Georgia Tax Credit Fund, LLC
  
  DEMS
  Guaranteed Tax Credit Fund I, LLC
  
  DEMS
  Guaranteed Tax Credit Fund II, LLC
  
  DEMS
  Guaranteed Tax Credit Fund III, LLC
  
  DEMS
  Guaranteed Tax Credit Fund IV, LLC
  
  DEMS
  Guaranteed Tax Credit Fund IX, LLC
  
  DEMS
  Guaranteed Tax Credit Fund V, LLC
  
  DE


MS
  Guaranteed Tax Credit Fund VI, LLC
  
  DEMS
  Guaranteed Tax Credit Fund VII, LLC
  
  DEMS
  Guaranteed Tax Credit Fund VIII, LLC
  
  DEMS
  Guaranteed Tax Credit Fund X, LLC
  
  DEMS
  Guaranteed Tax Credit Fund XI, LLC
  
  DEMS
  Guaranteed Tax Credit Fund XII, LLC
  
  DEMS
  Guaranteed Tax Credit Fund XV, LLC
  
  DEParamount
  Credit Enhanced Tax Credit Fund I, LLC
  
  DEParamount
  Credit Enhanced Tax Credit Fund II, LLC
  
  DECapmark
  Affordable Equity Inc.Paramount
  Guaranteed Tax Credit Fund I, LLC
  
  DEParamount
  Guaranteed Tax Credit Fund II, LLC
  
  DEParamount
  Guaranteed Tax Credit Fund III, LLC
  
  DEParamount
  Guaranteed Tax Credit Fund IV, LLC
  
  DEParamount
  Guaranteed Tax Credit Fund V, LLC
  
  DEParamount
  Guaranteed Tax Credit Fund VI, LLC
  
  DEParamount
  Guaranteed Tax Credit Fund VII, LLC
  
  DEParamount
  Guaranteed Tax Credit Fund VIII, LLC
  
  DEProtech
  Development Corporation
  
  TNProtech
  Development I, LLC
  
  OHProtech
  Economics, LLC
  
  OHProtech
  Holdings 105, LLC
  
  OHProtech
  Holdings 109, LLC
  
  OHProtech
  Holdings 110, LLC
  
  OHProtech
  Holdings 119, LLC
  
  OHProtech
  Holdings 128, LLC
  
  OH  ENTITY
  
  JURISDICTIONProtech
  Holdings 141, LLC
  
  OHProtech
  Holdings 142, LLC
  
  OHProtech
  Holdings 143, LLC
  
  OHProtech
  Holdings 151, LLC
  
  OHProtech
  Holdings 152, LLC
  
  OHProtech
  Holdings 154, LLC
  
  OHProtech
  Holdings 156, LLC
  
  OHProtech
  Holdings 157, LLC
  
  OHProtech
  Holdings 158, LLC
  
  OHProtech
  Holdings 159, LLC
  
  OHProtech
  Holdings 2002-A, LLC
  
  OHProtech
  Holdings 2004-D, LLC
  
  OHProtech
  Holdings C, LLC
  
  OHProtech
  Holdings R, LLC
  
  OHWingate
  Development, LLC  ENTITY
  NAME
  
  STATE/COUNTRY
  OF ORIGINNEWASC
  96-D3 LLC
  
  DENEWASC
  97-D4 LLC
  
  DENEWBOACMI
  00-1 LLC
  
  DENEWBOACMI
  00-2 LLC
  
  DENEWBOACMI
  01-1 LLC
  
  DENEWBOACMI
  01-3 LLC
  
  DENEWBOACMI
  01-PB1 LLC
  
  DENEWBOACMI
  02-PB2 LLC
  
  DE


NEWBOACMI
  02-X1 LLC
  
  DENEWBOACMI
  03-2 LLC
  
  DENEWBOACMI
  04-1 LLC
  
  DENEWBOACMI
  04-2 LLC
  
  DENEWBOACMI
  04-5 LLC
  
  DENEWBSCMSI
  00-WF1 LLC
  
  DENEWBSCMSI
  00-WF2 LLC
  
  DENEWBSCMSI
  01-TOP2 LLC
  
  DENEWBSCMSI
  02-PBW1 LLC
  
  DENEWBSCMSI
  02-TOP8 LLC
  
  DENEWBSCMSI
  03-PWR2 LLC
  
  DENEWBSCMSI
  04-PWR4
  
  DENEWBSCMSI
  04-TOP16 LLC
  
  DENEWCASCADES
  EAST ASSOCIATES LLC
  
  DENEWCCMSC
  00-2 LLC
  
  DENEWCCMSC
  00-3 LLC
  
  DENEWCCMSC
  97-2 LLC
  
  DENEWCCMSC
  98-2 LLC
  
  DENEWCCMSC
  99-1 LLC
  
  DENEWCCMSI
  05-C3 LLC
  
  DENEWCDCCMT
  02-FX1 LLC
  
  DENEWCLASV
  2002 LLC
  
  DENEWCMAC
  97-ML1 LLC
  
  DENEWCMFUN
  99-1 LLC
  
  DENEWCSFBMSC
  00-C1 LLC
  
  DENEWCSFBMSC
  00-PS4 LLC
  
  DENEWCSFBMSC
  01-CF2 LLC
  
  DENEWCSFBMSC
  01-CK1 LLC
  
  DE  ENTITY
  NAME
  
  STATE/COUNTRY
  OF ORIGINNEWCSFBMSC
  01-CK3 LLC
  
  DENEWCSFBMSC
  01-CK6 LLC
  
  DENEWCSFBMSC
  01-CKN5 LLC
  
  DENEWCSFBMSC
  01-CP4 LLC
  
  DENEWCSFBMSC
  02-CKP1 LLC
  
  DENEWCSFBMSC
  02-CKS4 LLC
  
  DENEWCSFBMSC
  02-CP3 LLC
  
  DENEWCSFBMSC
  02-CP5 LLC
  
  DENEWCSFBMSC
  03-CK2 LLC
  
  DENEWCSFBMSC
  03-CPN1 LLC
  
  DENEWCSFBMSC
  04-C1 LLC
  
  DENEWCSFBMSC
  04-C2 LLC
  
  DENEWCSFBMSC
  04-C4 LLC
  
  DENEWCSFBMSC
  05-C1 LLC
  
  DENEWCSFBMSC
  97-C1 LLC
  
  DENEWCSFBMSC
  97-C2 LLC
  
  DENEWCSFBMSC
  99-C1 LLC
  
  DENEWDLJCMC
  00-CKP1 LLC
  
  DENEWDLJCMC
  2000-CF1 LLC
  
  DENEWDLJCMC
  98-CG1 LLC
  
  DENEWDLJCMC
  99-CG2 LLC
  
  DENEWDLJCMC
  99-CG3 LLC
  
  DENEWDMARC
  03-LNB1 LLC
  
  DENEWDMARC
  COMM 04-LNB2 LLC
  
  DE


NEWDMARC
  COMM 04-LNB3 LLC
  
  DENEWDMARC
  COMM 04-LNB4 LLC
  
  DENEWEXIT88
  HOTEL LLC
  
  DENEWEXIT88
  MEZZANINE LLC
  
  DENEWFIG &
  BEE LLC
  
  DENEWFHLMC
  Southern Management Portfolio LLC
  
  DENEWFMAC
  LRT 98-C LLC
  
  DENEWFUCMSI
  00-C1 LLC
  
  DENEWFUCMSI
  00-C2 LLC
  
  DENEWFUCMSI
  01-C3 LLC
  
  DENEWFUCMSI
  01-C4 LLC
  
  DENEWFUCMSI
  02-C1 LLC
  
  DENEWFUCMSI
  99-C2 LLC
  
  DENEWFUCMSI
  99-C4 LLC
  
  DE  ENTITY
  NAME
  
  STATE/COUNTRYOF ORIGINNEWFULBA
  98 C2 Master Defeasance LLC
  
  DENEWG3
  03-TRW LLC
  
  DENEWGECCMC
  00-1 LLC
  
  DENEWGECCMC
  01-1 LLC
  
  DENEWGECCMC
  01-2 LLC
  
  DENEWGECCMC
  01-3 LLC
  
  DENEWGECCMC
  02-1 LLC
  
  DENEWGECCMC
  02-3 LLC
  
  DENEWGECMC
  03-C1 LLC
  
  DENEWGECMC
  03-C2 LLC
  
  DENEWGECMC
  05-C2 LLC
  
  DENEWGECMC
  05-C3 LLC
  
  DENEWGMACCM
  99-1 LLC
  
  DENEWGMACCM-HVC
  LLC
  
  DENEWGMACCMSI
  00-C2 LLC
  
  DENEWGMACCMSI
  01-C1 LLC
  
  DENEWGMACCMSI
  01-C2 LLC
  
  DENEWGMACCMSI
  02-C1 LLC
  
  DENEWGMACCMSI
  02-C2 LLC
  
  DENEWGMACCMSI
  02-C3 LLC
  
  DENEWGMACCMSI
  03-C2 LLC
  
  DENEWGMACCMSI
  04-C1 LLC
  
  DENEWGMACCMSI
  04-C2 LLC
  
  DENEWGMACCMSI
  97-C1 LLC
  
  DENEWGMACCMSI
  97-C2 LLC
  
  DENEWGMACCMSI
  99-C2 LLC
  
  DENEWGMACCMSI
  99-C3 LLC
  
  DENEWGSMSCII
  03-C1 LLC
  
  DENEWGSMSCII
  04-C1 LLC
  
  DENEWGSMSCII
  04-GG2 LLC
  
  DENEWGSMSCII
  05-GG4 LLC
  
  DE  ENTITY
  NAME
  
  STATE/COUNTRY
  OF ORIGINNEWGWHFI
  ROCKAWAY OFFICE B NOTE LLC
  
  DENEWHFCMAC
  00-PH1 LLC
  
  DENEWJPMCCMSC
  01-A LLC
  
  DENEWJPMCCMSC
  01-C1 LLC
  
  DE


NEWJPMCCMSC
  01-CIBC1 LLC
  
  DENEWJPMCCMSC
  01-CIBC2 LLC
  
  DENEWJPMCCMSC
  01-CIBC3 LLC
  
  DENEWJPMCCMSC
  02-C2 LLC
  
  DENEWJPMCCMSC
  02-C3 LLC
  
  DENEWJPMCCMSC
  02-CIBC4 LLC
  
  DENEWJPMCCMSC
  02-CIBC5 LLC
  
  DENEWJPMCCMSC
  03-C1 LLC
  
  DENEWJPMCCMSC
  03-ML1 LLC
  
  DENEWJPMCCMSC
  04-C2 LLC
  
  DENEWJPMCCMSC
  04-CIBC10 LLC
  
  DENEWJPMCCMSC
  04-CIBC8 LLC
  
  DENEWJPMCCMSC
  04-CIBC9 LLC
  
  DENEWJPMCCMSC
  04-LN2 LLC
  
  DENEWJPMCCMSC
  04-PNC1 LLC
  
  DENEWJPMCCMSC
  05-CIBC11 LLC
  
  DENEWJPMCCMSC
  05-CIBC12 LLC
  
  DENEWJPMCCMSC
  05-LDP1 LLC
  
  DENEWJPMCCMSC
  05-LDP2 LLC
  
  DENEWJPMCCMSC
  05-LDP3 LLC
  
  DENEWJPMCMFC
  00-C10 LLC
  
  DENEWJPMCMFC
  99-C7 LLC
  
  DENEWJPMCMFC
  99-C8 LLC
  
  DENEWJPMCMFC
  99-PLS1 LLC
  
  DENEWLBCMT
  02-C7 LLC
  
  DENEWLBCMT
  98-C1 LLC
  
  DENEWMCFI
  98-MC1 LLC
  
  DENEWMLMI
  02-MW1 LLC
  
  DENEWMLMI
  97-C1 LLC
  
  DENEWMLMI
  98-C1 LLC
  
  DENEWMSCI
  03-IQ5 LLC
  
  DE  ENTITY
  NAME
  
  STATE/COUNTRY
  OF ORIGINNEWMSCI
  03-TOP11 LLC
  
  DENEWMSCI
  04-TOP13 LLC
  
  DENEWMSDWCI
  00-LIFE1 LLC
  
  DENEWMSDWCI
  00-LIFE2 LLC
  
  DENEWMSDWCI
  01-TOP1 LLC
  
  DENEWMSDWCI
  01-TOP3 LLC
  
  DENEWMSDWCI
  02-IQ3 LLC
  
  DENEWMSDWCI
  03-IQ4 LLC
  
  DENEWMSDWCII
  01-TOP5 LLC
  
  DENEWMSDWCII
  02-HQ LLC
  
  DENEWNASC
  98-D6 LLC
  
  DENEWNLFC
  99-2 SLJ LLC
  
  DENEWPARKRIDGE
  FOUR ASSOCIATES LLC
  
  DENEWPNCMAC
  00-C1 LLC
  
  DENEWPNCMAC
  00-C2 LLC
  
  DENEWPNCMAC
  01-C1 LLC
  
  DENEWPNCMAC
  99-CM1 LLC
  
  DENEWPSSFC
  00-C1 LLC
  
  DENEWPSSFC
  03-PWR1 LLC
  
  DENEWPSSFC
  99-NRF1 LLC
  
  DENEWSASC
  00-C3 LLC
  
  DENEWSASC
  00-C5 LLC
  
  DE


NEWSASC
  01-C2 LLC
  
  DENEWSASC
  01-C7 LLC
  
  DENEWSASC
  02-C1 LLC
  
  DENEWSASC
  02-C2 LLC
  
  DENEWSASC
  02-C4 LLC
  
  DENEWSASCII
  03-C1 LLC
  
  DENEWSASCII
  03-C3 LLC
  
  DENEWSASCII
  04-C1 LLC
  
  DENEWSASCII
  04-C6 LLC
  
  DENEWSBMSVII
  00-C1 LLC
  
  DE  ENTITY
  NAME
  
  STATE/COUNTRY
  OF ORIGINNEWSBMSVII
  00-C3 LLC
  
  DENEWSBMSVII
  01-C1 LLC
  
  DENEWSBMSVII
  02-KEY2 LLC
  
  DENEWTIAAA
  LLC
  
  DENEWWCMSI
  03-C7 LLC
  
  DENEWWCMSI
  05-C16 LLC
  
  DENWMGMACCMSI
  00-C3 LLC
  
  DENWMGMCCMSI
  00-C2 LLC
  
  DENew Servicing EntitiesOaks at Marymont HH LLC
  
  DE(Owned 59.8% by CFI and 40.2% by CATI)Villa Toscana CAT, LLC
  
  DE(Owned 100% by CATI)Villagio CAT, LLC
  
  DE(Owned 100% by CATI)New Bank-related EntitiesCB Asset Resolution Corporation
  
  DE(Owned 100% by Capmark Bank)RS Atlanta LLC
  
  DE(Owned 100% by CB Asset Resolution Corporation)New NMTC EntityStatewide Ventures Leverage Fund LLC
  
  DE(Owned 100% by CFI)New Investments & Funds Management EntitiesCRPIII  Rancho Viejo LLC
  
  DE(Owned 100% by Capmark Commercial Realty Partners III LP)CSRE SUB II, Inc.
  
  DE(Owned 100% by Capmark Structured Real Estate Ltd.)