EXHIBIT 21
SUBSIDIARIES OF THE COMPANY
| Name of Subsidiary | State of Organization | |
| Paramount Real Estate Services, Inc. | Delaware | |
| HCN Development Services Group, Inc. | Indiana | |
| Windrose Southside Properties, Ltd. | Florida | |
| Windrose Northside Properties, Ltd. | Florida | |
| HCRI Pennsylvania Properties, Inc. | Pennsylvania | |
| HCRI Texas Properties, Inc. | Delaware | |
| HCRI Texas Properties, Ltd. | Texas | |
| HCRI Nevada Properties, Inc. | Nevada | |
| HCRI Louisiana Properties, L.P. | Delaware | |
| HCRI Southern Investments I, Inc. | Delaware | |
| Windrose Wellington Properties, Ltd. | Florida | |
| Lake Mead Medical Investors Limited Partnership | Florida | |
| HCN BCC Holdings, Inc. | Delaware | |
| HCRI Limited Holdings, Inc. | Delaware | |
| HCRI Tennessee Properties, Inc. | Delaware | |
| Pennsylvania BCC Properties, Inc. | Pennsylvania | |
| HCRI North Carolina Properties, LLC | Delaware | |
| FLA-PALM COURT, Limited Partnership | Florida | |
| Windrose Columbia Properties, Ltd. | Florida | |
| Windrose Palms West III Properties, Ltd. | Florida | |
| Windrose Palms West IV Properties, Ltd. | Florida | |
| Windrose Palms West V Properties, Ltd. | Florida | |
| Windrose West Boca Properties, Ltd. | Florida | |
| CAL-GAT Limited Partnership | Florida | |
| CAL-LAK Limited Partnership | Florida | |
| Windrose Sierra Properties, Ltd. | Florida | |
| Windrose West Tower Properties, Ltd. | Florida | |
| HCRI Massachusetts Properties, Inc. | Delaware | |
| HCRI Massachusetts Properties Trust | Massachusetts | |
| Brierbrook Partners, L.L.C. | Tennessee | |
| HCRI Indiana Properties, Inc. | Delaware | |
| HCRI Indiana Properties, LLC | Indiana | |
| HCRI Holdings Trust | Massachusetts | |
| Hammes Company Green Bay I, LLC | Wisconsin | |
| Hammes Company Green Bay II, LLC | Wisconsin | |
| Med Properties Asset Group, L.L.C. | Indiana | |
| HCRI Maryland Properties, LLC | Maryland | |
| HCRI Massachusetts Properties Trust II | Massachusetts | |
| HCRI Beachwood, Inc. | Ohio | |
| HCRI Broadview, Inc. | Ohio | |
| HCRI Westlake, Inc. | Ohio |
| Name of Subsidiary | State of Organization | |
| HCRI Wisconsin Properties, LLC | Wisconsin | |
| HCRI North Carolina Properties I, Inc. | North Carolina | |
| HCRI North Carolina Properties II, Inc. | North Carolina | |
| HCRI North Carolina Properties III, Limited Partnership | North Carolina | |
| HCRI Kentucky Properties, LLC | Kentucky | |
| Badger RE Portfolio I, LLC | Wisconsin | |
| HCRI Mississippi Properties, Inc. | Mississippi | |
| Windrose Medical Properties, L.P. | Virginia | |
| HCRI Illinois Properties, LLC | Delaware | |
| HCRI Missouri Properties, LLC | Delaware | |
| Badger RE Portfolio II, LLC | Wisconsin | |
| Badger RE Portfolio III, LLC | Wisconsin | |
| HCRI Tucson Properties, Inc. | Delaware | |
| Badger RE Portfolio IV, LLC | Wisconsin | |
| AMCO I, LLC | Wisconsin | |
| WMPT Bellaire L.P. | Virginia | |
| WMPT Bellaire Properties, L.L.C. | Virginia | |
| Windrose Mount Vernon Properties, L.L.C. | Virginia | |
| Windrose Ocala Urology Properties, L.L.C. | Virginia | |
| Windrose Winn Way Properties, L.L.C. | Virginia | |
| WMPT Pearland Properties, L.L.C. | Virginia | |
| WMPT Pearland, L.P. | Virginia | |
| WMPT Stone Oak Properties, L.L.C. | Virginia | |
| WMPT Stone Oak, L.P. | Virginia | |
| WMPT Tomball Properties, L.L.C. | Virginia | |
| WMPT Tomball, L.P. | Virginia | |
| Windrose 310 Properties, L.L.C. | Tennessee | |
| Windrose Copley Properties, L.L.C. | Virginia | |
| Windrose 4475 Sierra Properties, L.L.C. | Delaware | |
| Windrose Medical Properties Management, L.L.C. | Virginia | |
| Windrose SPE Mount Vernon Properties, Inc. | Georgia | |
| HCRI Cold Spring Properties, LLC | Delaware | |
| HCRI Eddy Pond Properties Trust | Massachusetts | |
| HCRI Investments, Inc. | Delaware | |
| HCRI Asheboro Holdings, Inc. | North Carolina | |
| HCRI Asheboro Properties, LP | North Carolina | |
| HCRI Forest City Holdings, Inc. | North Carolina | |
| HCRI Forest City Properties, LP | North Carolina | |
| HCRI Greenville Holdings, Inc. | North Carolina | |
| HCRI Greenville Properties, LP | North Carolina | |
| HCRI Smithfield Holdings, Inc. | North Carolina | |
| HCRI Smithfield Properties, LP | North Carolina | |
| HCRI Drum Hill Properties, LLC | Delaware | |
| HCRI Fairmont Properties, LLC | Delaware | |
| HCRI Kirkland Properties, LLC | Delaware |
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| Name of Subsidiary | State of Organization | |
| HCRI Ridgeland Pointe Properties, LLC | Delaware | |
| Windrose Park Medical Properties, L.L.C. | Virginia | |
| Windrose Partell Medical Center, L.L.C. | Virginia | |
| HCRI Abingdon Holdings, Inc. | North Carolina | |
| HCRI Abingdon Properties, LP | North Carolina | |
| HCRI Burlington Manor Holdings, Inc. | North Carolina | |
| HCRI Burlington Manor Properties, LP | North Carolina | |
| HCRI Concord Place Holdings, Inc. | North Carolina | |
| HCRI Concord Place Properties, LP | North Carolina | |
| HCRI Eden Holdings, Inc. | North Carolina | |
| HCRI Eden Properties, LP | North Carolina | |
| HCRI Gaston Manor Holdings, Inc. | North Carolina | |
| HCRI Gaston Manor Properties, LP | North Carolina | |
| HCRI High Point Manor Holdings, Inc. | North Carolina | |
| HCRI High Point Manor Properties, LP | North Carolina | |
| HCRI Skeet Club Manor Holdings, Inc. | North Carolina | |
| HCRI Skeet Club Manor Properties, LP | North Carolina | |
| HCRI Statesville Place Holdings I, Inc. | North Carolina | |
| HCRI Statesville Place Holdings II, Inc. | North Carolina | |
| HCRI Statesville Place Properties I, LP | North Carolina | |
| HCRI Statesville Place Properties II, LP | North Carolina | |
| HCRI Weddington Park Holdings, Inc. | North Carolina | |
| HCRI Weddington Park Properties, LP | North Carolina | |
| Cooper Holding, L.L.C. | Florida | |
| Windrose Aberdeen I Properties, L.L.C. | Florida | |
| Cooper, L.L.C. | Delaware | |
| WMPT Sacramento Properties, L.L.C. | Virginia | |
| Windrose Coral Springs Properties, L.L.C. | Virginia | |
| Windrose St. Mary’s Medical Professional Building, L.L.C. | Virginia | |
| WMPT Bellaire POB Properties, L.L.C. | Virginia | |
| WMPT Bellaire POB, L.P. | Virginia | |
| WMPT Trinity Properties, L.L.C. | Virginia | |
| Badger RE Portfolio V, LLC | Wisconsin | |
| Windrose Central Medical II Properties, L.L.C. | Virginia | |
| WMPT Bellaire HP, L.P. | Virginia | |
| WMPT Bellaire HP Properties, L.L.C. | Virginia | |
| Windrose East West Properties, L.L.C. | Virginia | |
| Windrose Gwinnett I Properties, L.L.C. | Virginia | |
| Windrose Biltmore Properties, L.L.C. | Virginia | |
| WMPT Pearland II Properties, L.L.C. | Virginia | |
| Windrose Lake Mead Properties, L.L.C. | Virginia | |
| WMPT Pearland II, L.P. | Virginia | |
| WMPT Gwinnett II Properties, L.L.C. | Delaware | |
| West Boynton Investors, LLLP | Florida | |
| HCRI Kansas Properties, LLC | Delaware |
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| Name of Subsidiary | State of Organization | |
| HCRI Hunters Glen Properties, LLC | Delaware | |
| HCRI Wilburn Gardens Properties, LLC | Delaware | |
| HCRI Draper Place Properties Trust | Massachusetts | |
| HCRI Marina Place Properties Trust | Massachusetts | |
| Windrose Central Medical Properties, L.L.C. | Delaware | |
| Windrose Central Medical III Properties, L.L.C. | Virginia | |
| HCRI Tennessee Properties, LLC | Delaware | |
| HH Florida, LLC | Delaware | |
| Windrose Johns Creek I Properties, L.L.C. | Delaware | |
| Windrose Johns Creek II Properties, L.L.C. | Virginia | |
| Windrose Johns Creek III Properties, L.L.C. | Virginia | |
| Windrose Lakewood Properties, L.L.C. | Virginia | |
| Windrose Los Gatos Properties, L.L.C. | Virginia | |
| Windrose Palm Court Properties, L.L.C. | Virginia | |
| Windrose Fox Valley Properties, L.L.C. | Virginia | |
| Windrose Yorkville Properties, L.L.C. | Virginia | |
| Healthcare Property Managers of America, LLC | Florida | |
| Medical Real Estate Property Managers of America, LLC | Florida | |
| Windrose Union City Properties, L.L.C. | Virginia | |
| HCRI Dayton Place — Denver Properties, LLC | Delaware | |
| HCRI New Hampshire Properties, LLC | Delaware | |
| Windrose Union City II Properties, L.L.C. | Tennessee | |
| Windrose Fayetteville Properties, L.L.C. | Delaware | |
| WMPT Aberdeen II Management, L.L.C. | Delaware | |
| Windrose Aberdeen II Properties, L.L.C. | Delaware | |
| Windrose Atrium Properties, L.L.C. | Delaware | |
| Windrose Edinburg Properties, L.L.C. | Delaware | |
| Windrose Osler Properties, L.L.C. | Delaware | |
| Windrose Santa Anita Properties, L.L.C. | Delaware | |
| Windrose Southpointe Properties, L.L.C. | Delaware | |
| WMPT Aberdeen I Management, L.L.C. | Delaware | |
| WMPT Atrium Management, L.L.C. | Delaware | |
| WMPT Columbia Management, L.L.C. | Delaware | |
| WMPT Congress I Management, L.L.C. | Delaware | |
| WMPT Congress II Management, L.L.C. | Delaware | |
| WMPT Desert Springs Management, L.L.C. | Delaware | |
| WMPT Edinburg Management, L.L.C. | Delaware | |
| WMPT Northside Management, L.L.C. | Delaware | |
| WMPT Osler Management, L.L.C. | Delaware | |
| WMPT Palms West III Management, L.L.C. | Delaware | |
| WMPT Palms West IV Management, L.L.C. | Delaware | |
| WMPT Palms West V Management, L.L.C. | Delaware | |
| WMPT Santa Anita Management, L.L.C. | Delaware | |
| WMPT Sierra Management, L.L.C. | Delaware | |
| WMPT Southpointe Management, L.L.C. | Delaware |
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| Name of Subsidiary | State of Organization | |
| WMPT Southside Management, L.L.C. | Delaware | |
| WMPT Wellington Management, L.L.C. | Delaware | |
| WMPT West Boca Management, L.L.C. | Delaware | |
| WMPT West Tower Management, L.L.C. | Delaware | |
| WMPT WPC Management, L.L.C. | Delaware | |
| Windrose Congress I Properties, L.P. | Delaware | |
| Windrose Congress II Properties, L.P. | Delaware | |
| Windrose Desert Springs Properties, L.P. | Delaware | |
| HCRI Provider Properties, LLC | Delaware | |
| 111 Lazelle Road East, LLC | Delaware | |
| 1425 Yorkland Road, LLC | Delaware | |
| 1920 Cleveland Road West, LLC | Delaware | |
| 5166 Spanson Drive SE, LLC | Delaware | |
| 721 Hickory Street, LLC | Delaware | |
| 222 East Beech Street — Jefferson, L.L.C. | Delaware | |
| 130 Buena Vista Street, LLC | Delaware | |
| 1785 Freshley Avenue, LLC | Delaware | |
| 1850 Crown Park Court, LLC | Delaware | |
| 5700 Karl Road, LLC | Delaware | |
| Windrose Webster Properties, L.P. | Delaware | |
| Windrose WPC Properties, L.P. | Delaware | |
| WMPT Webster Management, L.L.C. | Delaware | |
| HCRI Senior Housing Properties, Inc. | Delaware | |
| Windrose 119 Properties, L.L.C. | Delaware | |
| Windrose Orange Properties, L.L.C. | Delaware | |
| Windrose Princeton Properties, L.L.C. | Delaware | |
| Windrose Trussville Properties, L.L.C. | Delaware | |
| WMPT 119 Management, L.L.C. | Delaware | |
| WMPT Princeton Management, L.L.C. | Delaware | |
| WMPT Trussville Management, L.L.C. | Delaware | |
| 209 Merriman Road, L.L.C. | Delaware | |
| Windrose Lafayette Properties, L.L.C. | Delaware | |
| Windrose Tulsa Properties, L.L.C. | Delaware | |
| WMPT Lafayette Management, L.L.C. | Delaware | |
| WMPT Tulsa Management, L.L.C. | Delaware | |
| HCRI Financing, Inc. | Delaware | |
| Heat Merger Sub, LLC | Delaware | |
| Warrior LP Holdco, LLC | Delaware | |
| WMPT Sacramento, L.P. | Virginia | |
| WMPT Trinity, L.P. | Virginia | |
| Windrose Orange Centre Properties, LLC | Delaware | |
| WMPT Orange Centre Management, LLC | Delaware | |
| Heat OP TRS, Inc. | Delaware | |
| Anchor HCN Properties, LLC | Delaware | |
| HCRI Logistics, Inc. | Delaware | |
| HCRI Merrillville Medical Facility, LLC | Delaware |
5
| Name of Subsidiary | State of Organization | |
| HCRI SHC Medical Facility, LLC | Delaware | |
| HCRI Summit Properties, LLC | Delaware | |
| Windrose AZ-Tempe Properties, LLC | Delaware | |
| Windrose Bartlett Properties, LLC | Delaware | |
| Windrose Claremore Properties, LLC | Delaware | |
| Windrose Denton Properties, LLC | Delaware | |
| Windrose Frisco I Properties, LLC | Delaware | |
| Windrose Frisco II Properties, LLC | Delaware | |
| Windrose Glendale Properties, LLC | Delaware | |
| Windrose Las Vegas Properties, LLC | Delaware | |
| Windrose Los Alamitos Properties, LLC | Delaware | |
| Windrose Okatie I Properties, LLC | Delaware | |
| Windrose Palmer Properties, LLC | Delaware | |
| Windrose St. Louis I Properties, LLC | Delaware | |
| Windrose Tucson Properties, LLC | Delaware | |
| HCRI Van Nuys Medical Facility, LLC | Delaware | |
| WMPT AZ-Tempe Management, LLC | Delaware | |
| WMPT Bartlett Management, LLC | Delaware | |
| WMPT Boynton West Management, LLC | Delaware | |
| HCRI Tallahassee Medical Facility, LLC | Delaware | |
| WMPT Claremore Management, LLC | Delaware | |
| WMPT Denton Management, LLC | Delaware | |
| WMPT Frisco I Management, LLC | Delaware | |
| WMPT Frisco II Management, LLC | Delaware | |
| WMPT Glendale Management, LLC | Delaware | |
| WMPT Las Vegas Management, LLC | Delaware | |
| WMPT Los Alamitos Management, LLC | Delaware | |
| WMPT Okatie I Management, LLC | Delaware | |
| WMPT Palmer Management, LLC | Delaware | |
| WMPT St. Louis I Management, LLC | Delaware | |
| WMPT Tucson Management, LLC | Delaware | |
| Windrose Niagara Falls Properties, LLC | Delaware | |
| Windrose Physicians Plaza Properties, LLC | Delaware | |
| Windrose West Seneca Properties, LLC | Delaware | |
| WMP Niagara Falls Management, LLC | Delaware | |
| WMP Physicians Plaza Management, LLC | Delaware | |
| WMP West Seneca Management, LLC | Delaware | |
| Windrose AWPC II Properties, LLC | Delaware | |
| Windrose Bethesda Properties, LLC | Delaware | |
| Windrose Wellington Properties, LLC | Delaware | |
| WMP AWPC II Management, LLC | Delaware | |
| WMP Bethesda Management, LLC | Delaware | |
| WMP Boynton Beach Management, LLC | Delaware | |
| WMP Wellington Management, LLC | Delaware | |
| HCN Access Holdings, LLC | Delaware | |
| HCN Access Las Vegas I, LLC | Delaware |
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| Name of Subsidiary | State of Organization | |
| Plaza / HCN Properties Phoenix Biomedical Plaza L.L.C. | Delaware | |
| HCRI Financial Services, LLC | Delaware | |
| HCRI Prestonwood Medical Facility, LLC | Delaware | |
| HCN Interra Lake Travis LTACH, LLC | Delaware | |
| HCN Lake Travis Holdings, LLC | Delaware | |
| HCN Lake Travis Property One, LLC | Delaware | |
| HCN Lake Travis Property Two, LLC | Delaware | |
| HCN Plaza Holdings, LLC | Delaware | |
| Bellevue Healthcare Properties, LLC | Delaware | |
| Windrose Cottonwood Properties, LLC | Delaware | |
| WMP Cottonwood Management, LLC | Delaware | |
| Windrose Southlake Properties, LLC | Delaware | |
| WMP Southlake Management, LLC | Delaware | |
| Windrose TSM I Properties, LLC | Delaware | |
| WMP TSM I Management, LLC | Delaware | |
| HC Summit I, LLC | Wisconsin | |
| WTP Healthcare Properties, LLC | Delaware | |
| Windrose East Valley Properties, LLC | Delaware | |
| WMP East Valley Management, LLC | Delaware | |
| Windrose Northwest Professional Plaza Properties, LLC | Delaware | |
| WMP Northwest Professional Plaza Management, LLC | Delaware | |
| Anchor HCN Doylestown, LLC | Delaware | |
| Anchor HCN Properties II, LLC | Delaware | |
| HCRI Illinois Properties II, LLC | Delaware | |
| HCN Anchor Properties, LLC | Delaware | |
| HCN Medicus Holdings, LLC | Delaware | |
| HCRI Exchange Properties I, LLC | Delaware | |
| HCRI Cumberland Properties, LLC | Delaware | |
| HCRI Exchange Management I, LLC | Delaware | |
| Stafford Medical Office Pavilion, LLC | Delaware | |
| HCRI Boardman Properties, LLC | Delaware | |
| 4500 Dorr Street Holdings, LLC | Delaware | |
| HCN Rendina Holdings, LLC | Delaware | |
| HCN Rendina Merced, LLC | Delaware | |
| 12429 Scofield Farms Drive, LLC | Delaware | |
| 1460 Johnson Ferry Road, LLC | Delaware | |
| 1565 Virginia Ranch Road, LLC | Delaware | |
| 1710 S.W. Health Parkway, LLC | Delaware | |
| 2860 Country Drive, LLC | Delaware | |
| 350 Locust Drive, LLC | Delaware | |
| 430 North Union Road, LLC | Delaware | |
| 4855 Snyder Lane, LLC | Delaware | |
| 655 Mansell Road, LLC | Delaware |
7
| Name of Subsidiary | State of Organization | |
| 7231 East Broadway, LLC | Delaware | |
| 799 Yellowstone Drive, LLC | Delaware | |
| 800 Oregon Street, LLC | Delaware | |
9802 48th Drive NE, LLC | Delaware | |
| 1011 E. Pecan Grove Road, LLC | Delaware | |
| 1329 Brown Street, LLC | Delaware | |
| 1625 W. Spring Street, LLC | Delaware | |
| 1818 Martin Drive, LLC | Delaware | |
| 2281 Country Club Drive, LLC | Delaware | |
| 311 E. Hawkins Parkway, LLC | Delaware | |
| 402 South Colonial Drive, LLC | Delaware | |
| 5550 Old Jacksonville Highway, LLC | Delaware | |
| 5902 North Street, LLC | Delaware | |
| 750 North Collegiate Drive, LLC | Delaware | |
| HCN Navvis Clarkson Valley, LLC | Delaware | |
| 23 Southpointe Drive, LLC | Delaware | |
| 2416 Brentwood Street, LLC | Delaware | |
| 200 E. Village Road, LLC | Delaware | |
| 1340 N. Washington Street Boulevard, LLC | Delaware | |
| 5165 Summit Ridge Court, LLC | Delaware | |
| 2695 Valleyview Boulevard, LLC | Delaware | |
| 500 Seven Fields Boulevard, LLC | Delaware | |
| 100 Knoedler Road, LLC | Delaware | |
| 8503 Mystic Park, LLC | Delaware | |
| 3434 Watters Road, LLC | Delaware | |
| 3200 West Slaughter Road, LLC | Delaware | |
| 8702 South Course Drive, LLC | Delaware | |
| 3625 Green Crest Street, LLC | Delaware | |
| 3921 North Main Street, LLC | Delaware | |
| 17231 Mill Forest Road, LLC | Delaware | |
| 5437 Eisenhauer Road, LLC | Delaware | |
| HCN-TH Wisconsin I, LLC | Delaware | |
| HCN-TH Wisconsin II, LLC | Delaware | |
| HCN-TH Wisconsin III, LLC | Delaware | |
| HCN-TH Wisconsin IV, LLC | Delaware | |
| HCN-TH Wisconsin V, LLC | Delaware | |
| HCN-TH Wisconsin VI, LLC | Delaware | |
| HCN-TH Wisconsin VII, LLC | Delaware | |
| HCN-TH Wisconsin VIII, LLC | Delaware | |
| HCRI TRS Acquirer, LLC | Delaware | |
| HCRI Akron Properties, LLC | Delaware | |
| HCRI TRS Acquirer II, LLC | Delaware | |
| HCN FCE Life Sciences, LLC | Delaware |
8