Exhbit 21.1

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                            LNR PROPERTY CORPORATION
                              List of Subsidiaries


   CORPORATION                     STATE OF INCORPORATON
-------------------------------------------------------------

<S>                                       <C>             
Alexandria LP, Inc.                       Virginia

Aurora LP, Inc.                           Colorado

Bert L. Smokler & Company                 Delaware

Midwest Management Company, Inc.          Michigan

DCA Homes, Inc.                           Florida 

DCA Management Corporation                Florida 

Devco Shopping Centers, Inc.              Florida 

Dreyfus Interstate Development Corp.      Delaware

Everett LP, Inc.                          Massachusetts   

LNR Shelf I, Inc.                         Florida   
(formerly Friendswood Development Company)

H. Miller & Sons, Inc.                    Florida   

HMS Realty, Inc.                          Florida   

H. Miller & Sons of Florida, Inc.         Florida   

Miller's Plantation Development Company   Florida   

Leisure Colony Management Corp.           Florida   
                                                    
Leisure Communities Management, Inc.      Florida   

Len Acquisition Corporation, Inc.         Florida   

Lennar Affiliate Purchaser Corporation    Florida   

Lennar Atlantic Holdings, Inc.            Florida   

Lennar Beverly Holdings, Inc.             Nevada    

Lennar Capital Services, Inc.             Florida   

Lennar Capital Corporation                Florida   

Lennar Funding Corporation                Florida   

Lennar Communications, Inc.               Florida   

West Coast Mortgage Holdings, Inc.        Florida   

Lennar CGA Holdings, Inc.                 Nevada    


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Lennar Commercial Properties, Inc.        Florida              

Arbor Lake Club, Ltd.                     Florida              

Universal American Realty Corporation     Delaware             

Prado Apartments Limted                   Florida              
                                        
South Dade Utilities, Inc.                Florida              

Lennar Corporate Center, Inc.             Florida              

Lennar Coto Holdings, Inc.                California           

LFH SUB I, Inc.                           Florida              

LFS Asset Corp.                           Nevada               

Lennar Gateway Center Holdings, Inc.      Massachusetts        

Lennar Georgia Partners, Inc.             Georgia              

Lennar Huntington Beach, Inc.             California           

Lennar Kearny Holdings, Inc.              California           

Lennar Legend Oaks Holdings, Inc.         Colorado             

Lennar L.W. Assets, Inc.                  Florida              

Lennar LW Holdings, Inc.                  Florida              

Lennar LW Nevada Assets, Inc.             Nevada               

Lennar MBS, Inc.                          Nevada               

Lennar Marietta Holdings, Inc.            Georgia              

Lennar Mortgage Holdings Corporation      Florida              

Lennar Western Holdings, Inc.             Nevada               
(formerly Nevada Financial Holdings Corporation)

Lennar California Partners, Inc.          California           
                                    
Lennar Mortgage Holdings I, Inc.          Florida              

MSWH Sub I, Inc.                          Florida              

Lennar Pacific Holdings, Inc.             California           

Lennar Park Center III Holdings, Inc.     Virginia             


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Lennar Park JV, Inc.                     Florida     

Doral Park JV                            Florida     
                                        
Lennar Partners, Inc.                    Florida

Atlantic Holdings, Inc.                  Louisiana   

Lennar Partners of California, Inc.      Florida     

LNVP Holdings, Inc.                      Florida     

Lennar Nevada Partners, Inc.             Nevada      

Lennar Real Estate Holdings, Inc.        Florida     

Lennar Rockland, Inc.                    Florida     

Lennar Rolling Ridge, Inc.               California  

Lennar Seaboard Holdings, Inc.           Florida     

Lennar Securities Holdings, Inc.         Florida     

Lennar-Corry, Inc.                       Florida     

Lennar Stevenson Holdings, Inc.          California    

Lennar Texas Properties, Inc.            Texas         

Lennar Transamerica Holdings, Inc.       Florida       

Lennar U.S. Holdings, Inc.               Florida       

Lennar Wilshire Holdings, Inc.           Nevada        

Lennar Partners of Los Angeles, Inc.     California    

LNR Arrowhead Ranch Holdings, Inc.       Arizona       

LNR Brickell Bayview Corporation         Florida       

LNR Capital Mortgage Holdings, Inc.      Florida       

LNR Candlewood Holdings, Inc.            Nevada        

LNR Lafayette Holdings, Inc.             Louisiana     

LNR Lafayette LP, Inc.                   Louisiana     

LNR Land Partners Sub, Inc.              Delaware      

LNR Madison Holdings, Inc.               Nevada        
                                      
LNR Memphis Holdings, Inc.               Tennessee     

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LNR Memphis LP, Inc.                 Tennessee                

LNR Phoenix LP, Inc.                 Arizona                  

LNR Property Corporation             Delaware                 

LNR Related Venture, Inc.            Nevada                   

LNR Sands Holdings, Inc.             Nevada                   
                                     
LNR Verandah Holdings, Inc.          Texas                    

LNR Verandah LP, Inc.                Texas                    

Parkveiw Associates, Inc.            Florida                  

Parkview at Pembroke Pointe, Inc.    Florida                  

Springs Development Corporation      Florida                  

The Turtle Run Venture               Florida                  

Talladega Manufacturing, Inc.        Alabama                  

Vista del Lago Apartments, Inc.      Florida                  

Western Funding Holdings Corporation Nevada                   

Nevada Securities Holdings, Inc.     Nevada                   
                                    
Lennar Mayfair Holdings, Inc.        Florida

Lennar U.S. Holdings, Inc.           Florida

Lennar Northeast Holdings, Inc.      Florida

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