Exhibit 21.1

List of Subsidiaries

Subsidiary						State of Formation
100 Elkhorn Road - Sun Valley LLC						Delaware
100 Riverview Condominium Association Inc.						New Jersey
1000 South Clark Mezz Lender LLC						Delaware
1000 South Clark Street Holdings LLC						Delaware
1000 South Clark Street LLC						Delaware
1000 South Clark Street Partners LLC						Delaware
1050 N. El Mirage Road - Avondale LLC						Delaware
1101 Ocean Ave Parking LLC						New Jersey
1101 Ocean Ave Venture LLC						New Jersey
12 Union Street - Westborough LLC						Delaware
1250 N. El Mirage Road - Avondale LLC						Delaware
14000 N. Hayden Road - Scottsdale LLC						Delaware
17093 Biscayne Boulevard - North Miami LLC						Delaware
2021 Lakeside Boulevard - Richardson LLC						Delaware
210 5th Ave. Venture Urban Renewal LLC						New Jersey
212 Fifth Lender LLC						Delaware
215 North Michigan Owner LLC						Delaware
2220 West First Street - Fort Myers LLC						Delaware
2611 Corporate West Drive Venture LLC						Delaware
2611 CWD Net Lease I REIT						Maryland
2901 Kinwest Parkway - Irving LLC						Delaware
300 Riverview Condominium Association Inc.						New Jersey
3150 SW 38th Avenue - Miami LLC						Delaware
333 Rector Park - River Rose LLC						Delaware
3376 Peachtree Hotel LLC						Delaware
3376 Peachtree Hotel Operator LLC						Delaware
3376 Peachtree Penthouse LLC						Delaware
3376 Peachtree Residential LLC						Georgia
3376 Peachtree Retail LLC						Delaware
3376 Peachtree Road - Atlanta Hotel LL Inc.						Delaware
3376 Peachtree Road - Atlanta Restaurant LL Inc.						Delaware
377 East 33rd Investor LLC						Delaware
425 Park REIT Manager LLC						Delaware
432 Star Lender LLC						Delaware
6801 Woolridge Road - Moseley LP						Delaware
6801 Woolridge Road GenPar LLC						Delaware
7445 East Chaparral Road - Scottsdale LLC						Delaware
99 Shawan Road Joint Venture LLC						Delaware
Acquest Government Holdings II, LLC						New York
Acquest Government Holdings, L.L.C.						New York
Acquest Holdings FC, LLC						New York
AH Net Lease II REIT						Maryland

AH NLA II (PA) LLC						Delaware
AH NLA II (SC) LLC						Delaware
AP at Monroe Urban Renewal LLC						New Jersey
AP at South Grand Urban Renewal LLC						New Jersey
AP Block 146 Developer Urban Renewal, LLC						New Jersey
AP Block 176 Venture Urban Renewal LLC						New Jersey
AP Block 178 Venture LLC						New Jersey
AP Block 4502 Beach Club LLC						New Jersey
AP Fifteen Property Holdings, L.L.C.						New Jersey
AP Five Property Holdings, L.L.C.						New Jersey
AP Mortgagee LLC						Delaware
AP Retail Venture LLC						Delaware
AP Ten Property Holdings, L.L.C.						New Jersey
AP Triangle LLC						Delaware
AP Wesley Lake LLC						Delaware
Artesia Development Partners LLC						Delaware
Asbury Convention Hall Limited Liability Company						New Jersey
Asbury Partners, LLC						New Jersey
Asbury Three Liquor License LLC						New Jersey
Asbury Two Liquor License LLC						New Jersey
ASTAR 1360 Greely Chapel Road - Lima LLC						Delaware
ASTAR ASB AR1, LLC						Delaware
ASTAR ASB AR2, LLC						Delaware
ASTAR ASB FL1, LLC						Delaware
ASTAR ASB FL10, LLC						Delaware
ASTAR ASB FL2, LLC						Delaware
ASTAR ASB FL3, LLC						Delaware
ASTAR ASB FL4, LLC						Delaware
ASTAR ASB FL5, LLC						Delaware
ASTAR ASB FL6, LLC						Delaware
ASTAR ASB FL7, LLC						Delaware
ASTAR ASB FL8, LLC						Delaware
ASTAR ASB FL9, LLC						Delaware
ASTAR ASB GA1, LLC						Delaware
ASTAR ASB GA2, LLC						Delaware
ASTAR ASB GA3, LLC						Delaware
ASTAR ASB Holdings LLC						Delaware
ASTAR ASB NC1, LLC						Delaware
ASTAR ASB NC2, LLC						Delaware
ASTAR ASB NC3, LLC						Delaware
ASTAR ASB NC4, LLC						Delaware
ASTAR ASB TX1 GenPar LLC						Delaware
ASTAR ASB TX1 LimPar LLC						Delaware
ASTAR ASB TX1 LP						Delaware
ASTAR ASB VA1, LLC						Delaware
ASTAR ASB VA2, LLC						Delaware
ASTAR Finance Falcon I LLC						Delaware

ASTAR Finance Falcon II LLC						Delaware
ASTAR Finance LLC						Delaware
ASTAR FRR FL1, LLC						Delaware
ASTAR FRR TX1 GenPar LLC						Delaware
ASTAR FRR TX1 LP						Delaware
ASTAR Pima Road - Scottsdale LLC						Delaware
ASTAR ROU LA1, LLC						Delaware
ASTAR Spokane LLC						Delaware
ASTAR Suncadia LLC						Delaware
ASTAR Two Notch Columbia LLC						Delaware
ASTAR UAG AZ1, LLC						Delaware
ASTAR UAG AZ2, LLC						Delaware
ASTAR UAG AZ3, LLC						Delaware
ASTAR UAG FL1, LLC						Delaware
ASTAR UAG NJ1 LLC						Delaware
ATG NLA II (Mexico) LLC						Delaware
Autostar Investors Partnership LLP						Delaware
Autostar Realty GP LLC						Delaware
Autostar Realty Operating Partnership, L.P.						Delaware
Avenida Naperville Partners LLC						Delaware
Bath Site LLC						Delaware
Belmont Ridge Development Co. LLC						Delaware
BF Net Lease I REIT						Maryland
BF NLA LLC						Delaware
Bond Portfolio Holdings II LLC						Delaware
Bond Portfolio Holdings LLC						Delaware
Bonita Grande 68, LLC						Florida
BW Bowling Net Lease I REIT						Maryland
BW Bowling Properties Canada Inc.						British Columbia
BW Bowling Properties GenPar LLC						Delaware
BW Bowling Properties LLC						Delaware
BW Bowling Properties LP						Delaware
Cajun Fish Holdings, L.L.C.						New Jersey
Charwell TP LLC						New York
Chicago STAR LLC						Delaware
Childs Associates LLC						Delaware
Coney Childs Lender LLC						Delaware
Coney Entertainment LLC						Delaware
Coney Island Holdings LLC						Delaware
Coyote Center Development, LLC						Delaware
CVNet Lease II REIT						Maryland
CV NLA II GenPar LLC						Delaware
CV NLA II LP						Delaware
DT Net Lease I REIT						Maryland
DT-XCIII-IS, LLC						Delaware
EB Target Holdco LLC						Delaware
EB Target LLC						Delaware

Entertainment Center Development, LLC						Delaware
Falcon Auto Dealership Loan Trust 2001-1						Delaware
Falcon Auto Dealership, LLC						Delaware
Falcon Financial II, LLC						Delaware
Falcon Franchise Loan Corp.						Delaware
Falcon Franchise Loan TR Series 2003-1
FF Net Lease II REIT						Delaware
FF NLA II LLC						Delaware
Florida 2005 Theaters LLC						Delaware
Florida Lien Investor LLC						Delaware
GFV Shawan Office, LLC						Delaware
Gold Coast Chicago Acquisition Company LLC						Delaware
Grand Monarch Partners LLC						Delaware
Great Oaks MF Fee Owner LLC						Delaware
Harbor Bay Net Lease I REIT						Maryland
Harbor Bay NLA LLC						Delaware
Hicksville GL Owner LLC						Delaware
Highland View Associates LLC						Delaware
IS CI Bath Member LLC						Delaware
iStar 100 LLC						Delaware
iStar 100 Management Inc.						Delaware
iStar 100 Riverview LLC						Delaware
iStar 200-300 LLC						Delaware
iStar 200-300 Management Inc.						Delaware
iStar 200-300 Riverview LLC						Delaware
iStar 320 East Warner Lender LLC						Delaware
iStar 4th & Virginia LLC						Delaware
iStar 4th & Virginia Manager LLC						Delaware
iStar Alpha Structured Products LLC						Delaware
iStar Artesia Land LLC						Delaware
iStar Asset Services, Inc.						Delaware
iStar Automotive Investments LLC						Delaware
iStar Bishops Gate LLC						Delaware
iStar Blues LLC						Delaware
iStar Bowling Centers I LLC						Delaware
iStar Bowling Centers I LP						Delaware
iStar Bowling Centers II LLC						Delaware
iStar Bowling Centers II LP						Delaware
iStar Bowling Centers PR GenPar LLC						Delaware
iStar Bowling Centers PR LP						Delaware
iStar Busco Inc.						Delaware
iStar Chicago Hotel Lender LLC						Delaware
iStar Corporate Collateral LLC						Delaware
iStar CTL I GenPar, Inc.						Delaware
iStar CTL I, L.P.						Delaware
iStar CTL Manager LLC						Delaware
iStar DH Holdings TRS Inc.						Cayman Islands

iStar DMI LLC						Delaware
iStar DOJ Holdings LLC						Delaware
iStar Financial Protective Trust						Maryland
iStar Financial Statutory Trust I						Delaware
iStar FKEC Holdings LLC						Delaware
iStar Florida 2015 Cinemas LLC						Delaware
iStar FM Loans LLC						Delaware
iStar Grand Monarch Investor LLC						Delaware
iStar Harrisburg Business Trust						Delaware
iStar Harrisburg GenPar LLC						Delaware
iStar Harrisburg, L.P.						Delaware
iStar IF III LLC						Delaware
iStar iPIP 2019 LLC						Delaware
iStar Land and Development Company Inc.						California
iStar Lex Lender LLC						Delaware
iStar Madison LLC						Delaware
iStar Minnesota LLC						Delaware
iStar Net Lease I LLC						Delaware
iStar Net Lease II LLC						Delaware
iStar Net Lease Manager I LLC						Delaware
iStar Net Lease Manager II LLC						Delaware
iStar Net Lease Member I LLC						Delaware
iStar Net Lease Member II LLC						Delaware
iStar Pinnacle Lender LLC						Delaware
iStar Raintree Venture Member LLC						Delaware
iStar Real Estate Services, Inc.						Maryland
iStar Reeder Lender LLC						Delaware
iStar REO Holdings II TRS LLC						Delaware
iStar REO Holdings TRS LLC						Delaware
iStar San Jose, L.L.C.						Delaware
iStar SLC LLC						Delaware
iStar SoHo Lender LLC						Delaware
iStar SPP II LLC						Delaware
iStar SPP LLC						Delaware
iStar Standard Lender LLC						Delaware
iStar Tara Holdings LLC						Delaware
iStar Tara LLC						Delaware
iStar WALH Investor TRS LLC						Delaware
iStar West Walton Lender LLC						Delaware
iStar West Walton Mezz LLC						Delaware
Jade Eight Properties LLC						Delaware
Jersey Star GenPar LLC						Delaware
Jersey Star LP						Delaware
Key West Harbour Development, L.L.C.						Florida
Key West Marina Investments, L.L.C.						Florida
Loft Office Acquisition, LLC						Delaware
Long Beach Wayfarer LLC						Delaware

Lysol Limited						Cyprus
Madison Asbury Retail, LLC						Delaware
Magnolia Green Development Partners LLC						Delaware
MFF NLA LLC						Delaware
MFF Net Lease I REIT						Maryland
MF III Albion LLC						New Jersey
MG Apartment Entity, LLC						Delaware
MG Apartments Parcel 3 LLC						Delaware
MN Theaters 2006 LLC						Minnesota
Naples AW Holdco LLC						Delaware
Naples Harbour Development, L.L.C.						Florida
Naples Marina Investments, L.L.C.						Florida
NHN Holdco LLC						Delaware
NHN Venture 2, LLC						Delaware
Oakton Net Lease I REIT						Maryland
Oakton NLA LLC						Delaware
OHA Strategic Credit Fund (Parallel I), L.P.
One Palm Hotel Operator LLC						Delaware
One Palm LLC						Delaware
Parrot Cay Holdco LLC						Delaware
Piscataway Road - Clinton MD LLC						Delaware
Potomac TC Owner LLC						West Virginia
Raintree Venture Owner, LLC						Delaware
Raintree Venture Partners, LLC						Delaware
Rattlefish Raw Bar and Grill, LLC						Florida
Royal Oaks Lane (Biscayne Landing) - North Miami LLC						Delaware
Seaside Park LLC						Delaware
SFI 10 Rittenhouse LLC						Delaware
SFI Acquest Holdings LLC						Delaware
SFI Almaden Manager LLC						Delaware
SFI Artesia LLC						Delaware
SFI Ballpark Village LLC						Delaware
SFI Bedford LLC						Delaware
SFI Belmont LLC						Delaware
SFI BR Villa Luisa LLC						Delaware
SFI Bridgeview LLC						Delaware
SFI Bullseye - Chicago LLC						Delaware
SFI Cascade Highlands LLC						Delaware
SFI Chicago Tollway LLC						Delaware
SFI Coney Island Manager LLC						Delaware
SFI CWD Venture Manager LLC						Delaware
SFI DT Holdings LLC						Delaware
SFI Eagle Land LLC						Delaware
SFI Emery Bay Participant LLC						Delaware
SFI Euro Holdings II LLC						Delaware
SFI Euro Holdings LLC						Delaware
SFI Ford City -Chicago LLC						Delaware

SFI Ginn Investments LLC						Delaware
SFI Gold Coast Partner LLC						Delaware
SFI Grand Vista LLC						Delaware
SFI Harborspire GenPar LLC						Delaware
SFI Harborspire LimPar LLC						Delaware
SFI Ilikai 104 LLC						Delaware
SFI Ilikai GenPar LLC						Delaware
SFI Ilikai LL Inc.						Delaware
SFI Ilikai LL Parent Inc.						Delaware
SFI Ilikai LP						Delaware
SFI Ilikai Property Owner LLC						Delaware
SFI Ilikai Retail Owner LLC						Delaware
SFI Kauai GenPar LLC						Delaware
SFI Kauai LP						Delaware
SFI Kauai Operator LLC						Delaware
SFI Kauai Owner LLC						Delaware
SFI Key West Harbour Holdings LLC						Delaware
SFI Key West Marina LLC						Delaware
SFI Kua 4 Partner LLC						Delaware
SFI Los Valles LLC						Delaware
SFI Magnolia Avenue - Riverside LLC						Delaware
SFI Mammoth Crossing LLC						Delaware
SFI Mammoth Finance LLC						Delaware
SFI Mammoth GenPar LLC						Delaware
SFI Mammoth Owner LP						Delaware
SFI Marina Investments LLC						Delaware
SFI Marina Stuart TRS LLC						Delaware
SFI MG Investor LLC						Delaware
SFI Mortgage Funding LLC						Delaware
SFI Naples Marina LLC						Delaware
SFI Naples Reserve LLC						Delaware
SFI Net Lease Holdings LLC						Delaware
SFI One Palm Partner LLC						Delaware
SFI Palm Tree (St Lucie) LLC						Delaware
SFI Palm Tree Farms LLC						Delaware
SFI Penn Holdco Statutory Trust						Delaware
SFI Penn Properties Statutory Trust						Delaware
SFI Raintree - Scottsdale LLC						Delaware
SFI Savannah Residential LLC						Delaware
SFI SMR GenPar LLC						Delaware
SFI SMR LP						Delaware
SFI Spring Mountain Ranch Phase 1 LLC						Delaware
SFI Tampa Marina LLC						Delaware
SFI Top Ilikai LL Inc.						Delaware
SFI Top Ilikai Parent LL Inc.						Delaware
SFI Valley Plaza - North Hollywood LLC						Delaware
SFI Westgate City Center - Glendale LLC						Delaware

SFI Winkel Way LLC						Delaware
SFT I, Inc.						Delaware
SFTY Manager LLC						Delaware
Shawan Net Lease I REIT						Delaware
Shore Road GenPar LLC						Delaware
Shore Road - Long Beach LP						Delaware
Shore Road - Long Beach Superblock LLC						Delaware
SMR Phase 1 Joint Venture LLC						Delaware
St. Lucie Palm Tree Sales LLC						Delaware
STAR 100 Barclay Lender LLC						Delaware
STAR 540 West 26th Lender LLC						Delaware
STAR 570 LH Holdings LLC						Delaware
STAR 570 Washington LH LLC						Delaware
STAR 2019 Lender LLC						Delaware
STAR 10721 Domain Dr LH Owner LLC						Delaware
STAR AGRO Lender LLC						Delaware
STAR Arizona Avenue Lender LLC						Delaware
STAR Artesia 2 Member LLC						Delaware
STAR Barclay A-2 Lender LLC						Delaware
STAR Boerum Lender LLC						Delaware
STAR Dayton Hangar One LLC						Delaware
STAR Domain LH Holdings LLC						Delaware
STAR Dream Lender LLC						Delaware
Star FW Ventures II Investor LLC						Delaware
STAR Germantown Lender LLC						Delaware
STAR Glenridge Lender LLC						Delaware
STAR Highpark Lender LLC						Delaware
STAR Investment Holdco LLC						Delaware
Star Jadian Investor LLC						Delaware
STAR Equus McDowell Member LLC						Delaware
STAR Lineage Investor LLC						Delaware
STAR McDowell Venture Partner LLC						Delaware
STAR Mezzanine I LLC						Delaware
STAR Metropolitan Lender LLC						Delaware
STAR Mortgage I LLC						Delaware
STAR Naperville Investor LLC						Delaware
STAR Nevele Owner LLC						Delaware
STAR NM Northside Lender LLC						Delaware
STAR Nashville Hangar 6 LLC						Delaware
STAR North Clark Lender LLC						Delaware
STAR Palm Desert Lender GenPar LLC						Delaware
STAR Palm Desert Lender LP						Delaware
STAR Preferred Holdings LLC						Delaware
STAR Shidler-Terra Lender LLC						Delaware
STAR Structured Lender I LLC						Delaware
STAR Sycamore Avenue Lender LLC						Delaware
STAR Town Square Lender Member LLC						Delaware

STAR Tustin Lender LLC						Delaware
STAR TX Purchaser LLC						Delaware
State Road 710 - Indiantown LLC						Delaware
Stone Pony Partners LLC						New Jersey
Talking Partners LLC						New Jersey
Tampa Harbour Development, L.L.C.						Florida
Tampa Marina Investments, L.L.C.						Florida
TDM Kua 4, LLC						Delaware
THCF LLC						New Jersey
The Lanes at AP LLC						New Jersey
The New Westgate LLC						Delaware
TimberStar GP LLC						Delaware
TimberStar Investors Partnership LLP						Delaware
TimberStar Operating Partnership, L.P.						Delaware
TimberStar Selling Party Representative Holdco LLC						Delaware
TimberStar Southwest Investor LLC						Delaware
TPRJC Owner LLC						New Jersey
TriNet Essential Facilities XXVII, Inc.						Maryland
TriNet Sunnyvale Partners, L.P.						Delaware
TSM I, LLC						Delaware
TSM II, LLC						Delaware
Uncommon CCRC Investor LLC						Delaware
Uncommon OpCo Investor LLC						Delaware
Vector Urban Renewal Associates I, L.P.						New Jersey
Westgate CCDEP Investor LLC						Delaware
Westgate Investments, LLC						Delaware
Westgate Signage, LLC						Delaware
Westgate Sports and Entertainment Group, LLC						Delaware
WG Net Lease I REIT						Maryland
WG NLA LLC						Delaware