Arbor Realty Trust (ABR) 10-K 2007 FY Annual report

EXHIBIT 21.1

SUBSIDIARIES OF ARBOR REALTY TRUST, INC.

Arbor Realty GPOP, Inc., a Delaware corporation

Arbor Realty LPOP, Inc., a Delaware corporation

Arbor Realty Limited Partnership, a Delaware limited partnership

Arbor Realty SR, Inc., a Maryland corporation

Arbor Texas CDS, LLC, a New York limited liability company

420 5th Investor, LLC, a Delaware limited liability company

Arbor Realty Funding, LLC, a Delaware limited liability company

Arbor Realty Member LLC, a Delaware limited liability company

ART 450 LLC, a Delaware limited liability company

ARMS2004-1 Equity Holdings LLC, a Delaware limited liability company

Arbor Realty Mortgage SecuritiesSeries 2004-1 LLC, a Delaware limited liability company

Arbor Realty Mortgage SecuritiesSeries 2004-1, Ltd., a Cayman Islands exempted company with limited liability Arbor Realty Collateral Management, LLC, a Delaware limited liability company

AC Flushing, LLC, a New York limited liability company

AR Prime Holdings LLC, a Delaware limited liability company

Arbor Realty Mortgage SecuritiesSeries 2005-1 Ltd., a Cayman Islands exempted company with limited liability Arbor Realty Mortgage SecuritiesSeries 2005-1 LLC, a Delaware limited liability company

ARMS2005-1 Equity Holdings LLC, a Delaware limited liability company

Arbor Realty RMBS LLC, a Delaware limited liability company

Arbor SR West 35th LLC, a Delaware limited liability company

ARSR TRS Holdings LLC (formerly Arbor Toy LLC), a Delaware limited liability company (TRS)

ARMS2006-1 Equity Holdings LLC, a Delaware limited liability company

Arbor Realty Mortgage SecuritiesSeries 2006-1 LLC, a Delaware limited liability company

Arbor Realty Mortgage SecuritiesSeries 2006-1, Ltd., a Cayman Islands exempted company with limited liability Arbor Realty Participation LLC, a Delaware limited liability company

Arbor Realty Mezzanine LLC, a Delaware limited liability company

ART 823 LLC, a Delaware limited liability company (TRS)

ARSR Tahoe LLC, a Delaware limited liability company

ARSR Jacksonville LLC, a Delaware limited liability company

ARSR Alpine LLC, a Delaware limited liability company (TRS)

ARSR CA TRS LLC, a Delaware limited liability company

Arbor ESH Holdings LLC, a Delaware limited liability company

Heritage Marina TRS LLC, a Delaware limited liability company

Ashley Court — Fort Wayne LLC, an Indiana limited liability company

Richland Terrace Apts. LLC, a South Carolina limited liability company

Arbor Capital Trust I, a Delaware Statutory Trust

Arbor Capital Trust II, a Delaware Statutory Trust

Arbor Capital Trust III, a Delaware Statutory Trust

Arbor Capital Trust IV, a Delaware Statutory Trust

Arbor Capital Trust V, a Delaware Statutory Trust

Arbor Capital Trust VI, a Delaware Statutory Trust

Arbor Capital Trust VII, a Delaware Statutory Trust

Arbor Capital Trust VIII, a Delaware Statutory Trust

Arbor Capital Trust IX, a Delaware Statutory Trust

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