Exhibit 21.1



|                                                                    |  |                    |  |                       
|------------------------------------------------------------------- |  | ------------------ |  | ----------------------
|Name of Subsidiary                                                  |  | State of Formation |  | Other Names Used      
|175 Remsen PE Investors, LLC                                        |  | Delaware           |  |                       
|175 Remsen PE Investors II, LLC                                     |  | Delaware           |  |                       
|6006 Executive Boulevard, LLC                                       |  | Delaware           |  |                       
|7500 Bellaire Mall LP                                               |  | Texas              |  |                       
|Aslan Centerpoint, LLC                                              |  | Kentucky           |  |                       
|Aslan Chalkville, LLC                                               |  | Kentucky           |  |                       
|Aslan Terrace, LLC                                                  |  | Kentucky           |  |                       
|Bear Stearns ARM Trust 2005-7                                       |  | Delaware           |  |                       
|Bear Stearns ARM Trust 2005-9                                       |  | Delaware           |  |                       
|Citigroup Mortgage Loan Trust 2005-11                               |  | Delaware           |  |                       
|CP/GP, Inc.                                                         |  | Pennsylvania       |  |                       
|CWABS Trust 2005 HYB9                                               |  | Delaware           |  |                       
|Merrill Lynch Mortgage Backed Securities Trust, Series MLMBS 2007-2 |  | Delaware           |  |                       
|Merrill Lynch Mortgage Investors Trust, Series
2005-A9              |  | Delaware           |  |                       
|OSEB GP, Inc.                                                       |  | Delaware           |  |                       
|RAIT General, Inc.                                                  |  | Maryland           |  |                       
|RAIT Limited, Inc.                                                  |  | Maryland           |  |                       
|RAIT Partnership, L.P.                                              |  | Delaware           |  |                       
|RAIT 175 Remsen, LLC                                                |  | Delaware           |  |                       
|RAIT-401 Michigan, LLC                                              |  | Delaware           |  |                       
|RAIT 500 Michigan, LLC                                              |  | Delaware           |  |                       
|RAIT Advisors, Inc.                                                 |  | Delaware           |  |                       
|RAIT Aslan Centerpoint, LLC                                         |  | Delaware           |  |                       
|RAIT Aslan Chalkville, LLC                                          |  | Delaware           |  |                       
|RAIT Aslan Terrace, LLC                                             |  | Delaware           |  |                       
|RAIT Amarillo, LLC                                                  |  | Delaware           |  |                       
|RAIT Asset Holdings, LLC                                            |  | Delaware           |  |                       
|RAIT Atria, LLC                                                     |  | Delaware           |  |                       
|RAIT Braden Lakes, LLC                                              |  | Delaware           |  |                       
|RAIT Broadstone, Inc.                                               |  | Delaware           |  |                       
|RAIT Buckner, LLC                                                   |  | Delaware           |  |                       
|RAIT Carter Oak, LLC                                                |  | Delaware           |  |                       
|RAIT Capital Corp.                                                  |  | Delaware           |  | Pinnacle Capital Group
|RAIT Cornerstone, LLC                                               |  | Delaware           |  |                       
|RAIT CRE CDO I, Ltd.                                                |  | Cayman Islands     |  |                       
|RAIT CRE CDO I, LLC                                                 |  | Delaware           |  |                       
|RAIT CRE Holdings, LLC                                              |  | Delaware           |  |                       
|RAIT-CVI IV, LLC                                                    |  | Delaware           |  |                       
|RAIT Desert Star, LLC                                               |  | Delaware           |  |                       
|RAIT Eastfield, LLC                                                 |  | Delaware           |  |                       



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|                                      |  |                |  | 
|------------------------------------- |  | -------------- |  | 
|RAIT Emerald Pointe, Inc.             |  | Delaware       |  | 
|RAIT Executive Boulevard, LLC         |  | Delaware       |  | 
|RAIT Executive Mews Manager I, Inc.   |  | Delaware       |  | 
|RAIT Executive Mews Manager II, Inc.  |  | Delaware       |  | 
|RAIT Executive Mews Manager III, Inc. |  | Delaware       |  | 
|RAIT Finance I, LLC                   |  | Delaware       |  | 
|RAIT Firehouse, LLC                   |  | Delaware       |  | 
|RAIT-Hartford, L.L.C.                 |  | Delaware       |  | 
|RAIT Highland Club, Inc.              |  | Delaware       |  | 
|RAIT Highland Club, LLC               |  | Delaware       |  | 
|RAIT Lincoln Court, LLC               |  | Delaware       |  | 
|RAIT McDowell, LLC                    |  | Delaware       |  | 
|RAIT Milwaukee, LLC                   |  | Delaware       |  | 
|RAIT-Neenah, L.L.C.                   |  | Delaware       |  | 
|RAIT North Park, LLC                  |  | Delaware       |  | 
|RAIT Old Town, LLC                    |  | Delaware       |  | 
|RAIT Old Town Investor LLC            |  | Delaware       |  | 
|RAIT Preferred Funding II, LLC        |  | Delaware       |  | 
|RAIT Preferred Funding II, Ltd.       |  | Cayman Islands |  | 
|RAIT Preferred Holdings I, LLC        |  | Delaware       |  | 
|RAIT Preferred Holdings II LLC        |  | Delaware       |  | 
|RAIT Promontory Point, LLC            |  | Delaware       |  | 
|RAIT Quito-B, LLC                     |  | Delaware       |  | 
|RAIT Quito-C, LLC                     |  | Delaware       |  | 
|RAIT Reuss Federal Plaza, LLC         |  | Delaware       |  | 
|RAIT Rogers Plaza, LLC                |  | Delaware       |  | 
|RAIT Rohrerstown, L.P.                |  | Pennsylvania   |  | 
|RAIT SAAR Company, LLC                |  | Delaware       |  | 
|RAIT Sabel Key Manager, Inc.          |  | Delaware       |  | 
|RAIT Sharpstown, LLC                  |  | Delaware       |  | 
|RAIT Sharpstown GP, Inc.              |  | Delaware       |  | 
|RAIT Towne Square, LLC                |  | Delaware       |  | 
|RAIT-Two Rivers, L.L.C.               |  | Delaware       |  | 
|RAIT Urban Holdings, LLC              |  | Delaware       |  | 
|RAIT Wauwatosa, LLC                   |  | Delaware       |  | 
|REM-Cherry Hill, LLC                  |  | New Jersey     |  | 
|REM-Willow Grove, L.P.                |  | Pennsylvania   |  | 
|REM-Willow Grove, Inc.                |  | Pennsylvania   |  | 
|St. Pete Beach Holdings, LLC          |  | Delaware       |  | 
|Taberna Capital Management, LLC       |  | Delaware       |  | 
|Taberna Capital (Bermuda) Ltd         |  | Bermuda        |  | 
|Taberna Equity Funding, Ltd           |  | Cayman Islands |  | 
|Taberna Funding LLC                   |  | Delaware       |  | 
|Taberna Funding Capital Trust I       |  | Delaware       |  | 





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|                                     |  |                |  | 
|------------------------------------ |  | -------------- |  | 
|Taberna Funding Capital Trust II     |  | Delaware       |  | 
|Taberna Loan Holdings I, LLC         |  | Delaware       |  | 
|Taberna Loan Holdings II, LLC        |  | Delaware       |  | 
|Taberna Preferred Funding III, Ltd   |  | Cayman Islands |  | 
|Taberna Preferred Funding IV, Ltd    |  | Cayman Islands |  | 
|Taberna Preferred Funding VI, Ltd    |  | Cayman Islands |  | 
|Taberna Preferred Funding VII, Ltd   |  | Cayman Islands |  | 
|Taberna Preferred Funding VIII, Ltd. |  | Cayman Islands |  | 
|Taberna Preferred Funding IX, Ltd    |  | Cayman Islands |  | 
|Taberna Real Estate CDO I, Ltd.      |  | Cayman Islands |  | 
|Taberna Realty Finance Trust         |  | Maryland       |  | 
|Taberna Realty Holdings Trust        |  | Maryland       |  | 
|Taberna Securities, LLC              |  | Delaware       |  | 
|Taberna Preferred Funding III, Inc.  |  | Delaware       |  | 
|Taberna Preferred Funding IV, Inc.   |  | Delaware       |  | 
|Taberna Preferred Funding VI, Inc.   |  | Delaware       |  | 
|Taberna Preferred Funding VII, Inc.  |  | Delaware       |  | 
|Taberna Preferred Funding VIII, Inc. |  | Delaware       |  | 
|Taberna Preferred Funding IX, Inc.   |  | Delaware       |  | 
|Taberna Securities (UK), Ltd         |  | United Kingdom |  | 
|Westminster Chase Holdings, LLC      |  | Georgia        |  |