<PAGE>
                                                                    EXHIBIT 21.1

                           SUBSIDIARIES OF REGISTRANT

            GENA (CA) QRS 12-1, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME GENA (CA) QRS 12-1, INC.

            BBC (NE) QRS 12-2, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF NEBRASKA AND DOING BUSINESS UNDER
THE NAME BBC (NE) QRS 12-2, INC.

            ELWA-BV (NY) QRS 12-3, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF NEW YORK AND DOING BUSINESS UNDER
THE NAME ELWA-BV (NY) QRS 12-3, INC.

            ADS (CA) QRS 12-4, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME OF ADS (CA) QRS 12-4, INC.

            WALS (IN) QRS 12-5, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE WALS (IN) QRS 12-5, INC.

            ESI (CA) QRS 12-6, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME OF ESI (CA) QRS 12-6, INC.

            SFC (TX) QRS 12-7, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF TEXAS AND DOING BUSINESS UNDER THE
NAME SFC (TX) QRS 12-7, INC.

            SEEDS (TN) QRS 12-9, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF TENNESSEE AND DOING BUSINESS UNDER
THE NAME SEEDS (TN) QRS 12-9, INC.

            DELMO (PA) QRS 12-10, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF PENNSYLVANIA AND DOING BUSINESS
UNDER THE NAME DELMO (PA) QRS 12-10, INC.

            ABI (TX) QRS 12-11, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF TEXAS AND DOING BUSINESS UNDER THE
NAME ABI (TX) QRS 12-11, INC.

            CARDS (CA) QRS 12-12, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME CARDS (CA) QRS 12-12, INC.

            RSI (NJ) QRS 12-13, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF NEW JERSEY AND DOING BUSINESS UNDER
THE NAME RSI (NJ) QRS 12-13, INC.

            TEL (VA) QRS 12-15, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF VIRGINIA AND DOING BUSINESS UNDER
THE NAME TEL (VA) QRS 12-15, INC.

            LAX (DE) QRS 12-16, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME LAX (DE) QRS 12-16, INC.

            CEL (IN) QRS 12-17, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF INDIANA AND DOING BUSINESS UNDER THE
NAME CEL (IN) QRS 12-17, INC.

            SFC (TX) QRS 12-18, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF TEXAS AND DOING BUSINESS UNDER THE
NAME SFC (TX) QRS 12-18, INC.

            CTC (MD) QRS 12-19, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND AND DOING BUSINESS UNDER
THE NAME CTC (MD) QRS 12-19, INC.

            SPEC (CA) QRS 12-20, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME SPEC (CA) QRS 12-20, INC.

            INK (AL) QRS 12-21, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF ALABAMA AND DOING BUSINESS UNDER THE
NAME INK (AL) QRS 12-21, INC.

            WEEDS (OK) QRS 12-22, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF OKLAHOMA AND DOING BUSINESS UNDER
THE NAME WEEDS (OK) QRS 12-22, INC.

            NOG (NY) QRS 12-23, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF NEW YORK AND DOING BUSINESS UNDER
THE NAME NOG (NY) QRS 12-23, INC.

            BUILD (CA) QRS 12-24, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME BUILD (CA) QRS 12-24, INC.

            BT (PA) QRS 12-25, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF PENNSYLVANIA AND DOING BUSINESS
UNDER THE NAME BT (PA) QRS 12-25, INC.

            RSI LOAN (NJ) QRS 12-26, INC., A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF NEW JERSEY AND DOING
BUSINESS UNDER THE NAME RSI LOAN (NJ) QRS 12-26, INC.
<PAGE>
                           SUBSIDIARIES OF REGISTRANT

                                   (CONTINUED)

            ICE (TX) QRS 12-29, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF TEXAS AND DOING BUSINESS UNDER THE
NAME ICE (TX) QRS 12-29, INC.

            URSA (VT) QRS 12-30, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF VERMONT AND DOING BUSINESS UNDER THE
NAME URSA (VT) QRS 12-30, INC.

            GGAP (MA) QRS 12-31, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF MASSACHUSETTS AND DOING BUSINESS
UNDER THE NAME GGAP (MA) QRS 12-31, INC.

            CAN (WI) QRS 12-34, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF WISCONSIN AND DOING BUSINESS UNDER
THE NAME CAN (WI) QRS 12-34, INC.

            INFO (CA) QRS 12-35, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME INFO (CA) QRS 12-35, INC.

            WTI (IL) QRS 12-36, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF ILLINOIS AND DOING BUSINESS UNDER
THE NAME WTI (CA) QRS 12-36, INC.

            SOAP (CA) QRS 12-37, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA AND DOING BUSINESS UNDER
THE NAME SOAP (CA) QRS 12-37, INC.

            BROWN (MN) QRS 12-38, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF MINNESOTA AND DOING BUSINESS UNDER
THE NAME BROWN (MN) QRS 12-38, INC.

            NUTRA (TX) QRS 12-39, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF TEXAS AND DOING BUSINESS UNDER THE
NAME NUTRA (TX) QRS 12-39, INC.

            PRINT (WI) QRS 12-40, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF WISCONSIN AND DOING BUSINESS UNDER
THE NAME PRINT (WI) QRS 12-40, INC.

            CASH (MA) QRS 12-41, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF MASSACHUSETTS AND DOING BUSINESS
UNDER THE NAME CASH (MA) QRS 12-41, INC.

            QRS 12-PAYING AGENT, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF NEW YORK AND DOING BUSINESS UNDER
THE NAME QRS 12-PAYING AGENT, INC.

            CARE (PA) QRS 12-43, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME CARE (PA) QRS 12-43, INC.

            IM (DE) QRS 12-44, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME IM (DE) QRS 12-44, INC.

            SEMI (CA) QRS 12-45, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME SEMI (CA) QRS 12-45, INC.

            INJECTION (AZ) QRS 12-46, INC., A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME INJECTION (AZ) QRS 12-46, INC.

            COMP (TX) QRS 12-47, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME COMP (TX) QRS 12-47, INC.

            VCR (DE) QRS 12-48, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME VCR (DE) QRS 12-48, INC.

            FOOD (DE) QRS 12-49, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME FOOD (DE) QRS 12-49, INC.

            COLD (DE) QRS 12-50, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME COLD (DE) QRS 12-50, INC.

            CP GAL FAIRFAX LLC, A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME CP GAL FAIRFAX LLC.
<PAGE>
                           SUBSIDIARIES OF REGISTRANT

                                   (CONTINUED)

            CP GAL LOMBARD LLC, A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME CP GAL LOMBARD LLC.

            BUTTERED (TX) LP, A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME BUTTERED (TX) LP.

            BRI (MN) QRS 12-52, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME BRI (MN) QRS 12-52, INC.

            INITIATOR (CA) QRS 12-53, INC., A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME INITIATOR (CA) QRS 12-53, INC.

            AUSTOSAFE AIRBAG 12 (CA) LP, A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME AUSTOSAFE AIRBAG 12 (CA) LP.

            JEN (MA) QRS 12-54, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME JEN (MA) QRS 12-54, INC.

            ORB (MO) QRS 12-56, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME ORB (MO) QRS 12-56, INC.

            C.C. MORTGAGE SECURITIES LLC, A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME C.C. MORTGAGE SECURITIES LLC.

            CC-MTGE MEMBER, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME CC-MTGE MEMBER, INC.

            CB (MA) QRS 12-57, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME CB (MA) QRS 12-57, INC.

            CC (MULTI) GP QRS 12-62, INC., A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME CC (MULTI) GP QRS 12-62, INC.

            CC (MULTI) LIMITED PARTNERSHIP, A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME CC (MULTI) LIMITED PARTNERSHIP.

            CTS (IN) QRS 12-63, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME CTS (IN) QRS 12-63, INC.

            FIT (TX) GP QRS 12-60, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME FIT (TX) GP QRS 12-60, INC.

            FIT (TX) LP, A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT INCORPORATED
UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER THE NAME FIT
(TX) LP.

            KN (NY) QRS 12-64, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME KN (NY) QRS 12-64, INC.
<PAGE>
                           SUBSIDIARIES OF REGISTRANT

                                   (CONTINUED)

            RI (CA) QRS 12-59, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME RI (CA) QRS 12-59, INC.

            RRC (TX) GP QRS 12-61, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME RRC (TX) GP QRS 12-61, INC.

            RRC (TX) LP, A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT INCORPORATED
UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER THE NAME RRC
(TX) LP.

            BVNY (DE) M QRS 12-58, INC., A WHOLLY-OWNED SUBSIDIARY OF REGISTRANT
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING BUSINESS UNDER
THE NAME BVNY (DE) M QRS 12-58, INC.

            HAMMER (DE) LP QRS 12-65, INC., A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME HAMMER (DE) LP QRS 12-65, INC.

            24 HR-TX (TX) LIMITED PARTNERSHIP, A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME 24 HR-TX (TX) LIMITED PARTNERSHIP.

            24 HR-TX GP (TX) QRS 12-66, INC., A WHOLLY-OWNED SUBSIDIARY OF
REGISTRANT INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND DOING
BUSINESS UNDER THE NAME 24 HR-TX GP (TX) QRS 12-66, INC.