QuickLinks -- Click here to rapidly navigate through this document

EXHIBIT 21.1

List of Subsidiaries of Simon Property

Subsidiary |  | Jurisdiction
--- | --- | ---
Simon Property Group, L.P. |  | Delaware
SPG Realty Consultants, L.P. |  | Delaware
The Retail Property Trust |  | Massachusetts
Simon Property Group (Illinois), L.P. |  | Illinois
Simon Property Group (Texas), L.P. |  | Texas
Shopping Center Associates |  | New York
DeBartolo Capital Partnership |  | Delaware
Simon Capital Limited Partnership |  | Delaware
SDG Macerich Properties, L.P. |  | Delaware
M.S. Management Associates, Inc. |  | Delaware
M.S. Management Associates (Indiana), Inc. |  | Indiana
Mayflower Realty LLC |  | Delaware
Rosewood Indemnity, Ltd. |  | Bermuda
Marigold Indemnity, Ltd. |  | Delaware
Simon Business Network, LLC |  | Delaware
Simon Brand Ventures, LLC |  | Delaware
Simon Global Limited |  | United Kingdom
Simon Services, Inc. |  | Delaware
Simon Property Group Administrative Services Partnership, L.P. |  | Delaware
SPGGC, Inc. |  | Maryland
Kravco Simon Investments, L.P. |  | Pennsylvania
Kravco Simon Company |  | Pennsylvania

Omits names of subsidiaries that as of December 31, 2003 were not, in the aggregate, a "significant subsidiary".

112

QuickLinks

EXHIBIT 21.1

List of Subsidiaries of Simon Property