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 | |