Exhibit 21 ----------------------------------------------------------------- EQUITY RESIDENTIAL PROPERTIES TRUST SUBSIDIARIES ----------------------------------------------------------------- ENTITY ----------------------------------------------------------------- 1 EQUITY RESIDENTIAL PROPERTIES TRUST (PRE WRP MERGER) 2 EQUITY RESIDENTIAL PROPERTIES TRUST (POST WRP MERGER) 3 ERP OPERATING LIMITED PARTNERSHIP 4 EVANS WITHYCOMBE RESIDENTIAL LIMITED PARTNERSHIP 5 EQUITY RESIDENTIAL PROPERTIES MANAGEMENT CORP 6 EQUITY RESIDENTIAL PROPERTIES MANAGEMENT L.P. 7 EQUITY RESIDENTIAL PROPERTIES MANAGEMENT CORP II 8 EQUITY RESIDENTIAL PROPERTIES MANAGEMENT L.P. II 9 EQUITY RESIDENTIAL PROPERTIES MANAGEMENT CORP III 10 EVANS WITHYCOMBE MANAGEMENT INC. 11 ARTERY NORTHAMPTON LIMITED PARTNERSHIP 12 BUENA VISTA PLACE ASSOCIATES 13 Capital Realty Investors Tax Exempt Fund, L.P. 14 CAPREIT Arbor Glen L.P. 15 CAPREIT ATRIUM, L.P. 16 CAPREIT BOTANY ARMS, L.P. 17 CAPREIT BRECKENRIDGE 18 CAPREIT BURWICK FARMS, L.P. 19 CAPREIT Cedars L.P. 20 CAPREIT CHIMNEYS, L.P. 21 CAPREIT CLARION, L.P. 22 CAPREIT CONCORDE BRIDGE, L.P. 23 CAPREIT CREEKWOOD, L.P. 24 CAPREIT EASTLAND ON THE LAKE, L.P. 25 CAPREIT Farmington Gates L.P. 26 CAPREIT GARDEN LAKE, L.P. 27 CAPREIT GLENEAGLE, L.P. 28 CAPREIT GREYEAGLE, L.P. 29 CAPREIT HAMPTON ARMS, L.P. 30 CAPREIT HIDDEN OAKS, L.P. 31 CAPREIT HIGHLAND GROVE, L.P. 32 CAPREIT MARINER'S WHARF, L.P. 33 CAPREIT NORTHLAKE, L.P. 34 CAPREIT Ridgeway Commons L.P. 35 CAPREIT River Oak L.P. 36 CAPREIT SILVER SPRINGS, L.P. 37 CAPREIT SYCAMORE RIDGE, L.P. 38 CAPREIT TARMARIND AT STONEBRIDGE, L.P. 39 CAPREIT TIVOLI LAKES CLUB, L.P. 40 CAPREIT Westwood Pines L.P. 41 CAPREIT Woodcrest Villa L.P. 42 CAPREIT WOODLAND MEADOWS, L.P. 43 CARROLLWOOD LP 44 CEDAR CREST GENERAL PARTNERSHIP 45 COUNTRY CLUB ASSOCIATES LIMITED PARTNERSHIP 46 COUNTRY RIDGE GENERAL PARTNERSHIP 47 CRICO of Trailway Pond II, L.P. 48 CRICO of White Bear Woods I, L.P. 49 CRICO of Ethan's I, L.P. 50 CRICO of Ethan's II, L.P. ----------------------------------------------------------------- EQUITY RESIDENTIAL PROPERTIES TRUST SUBSIDIARIES ----------------------------------------------------------------- ENTITY ----------------------------------------------------------------- 51 CRICO of Fountain Place, L.P. 52 CRICO of James Street Crossing, L.P. 53 CRICO of Ocean Walk, L.P. 54 CRICO of Regency Woods, L.P. 55 CRICO of Trailway Pond I, L.P. 56 CRICO of Valley Creek I, L.P. 57 CRICO of Valley Creek II, L.P. 58 CRICO of Woodlane Place, L.P. 59 CRICO Royal Oaks, L.P. 60 E-G-ONE ASSOCIATES 61 E-G-TWO ASSOCIATES 62 E-LODGE ASSOCIATES LIMITED PARTNERSHIP 63 EQR-740 RIVER DRIVE, LLC 64 EQR-ALDERWOOD LP 65 EQR-ARBORETUM, LLC 66 EQR-ARBORS FINANCING LIMITED PARTNERSHIP 67 EQR-ARIZONA, L.L.C. 68 EQR-ARTBHOLDER, L.L.C. 69 EQR-ARTCAPLOAN, L.L.C. 70 EQR-BELLEVUE MEADOW GP LP 71 EQR-BELLEVUE MEADOW LP 72 EQR-BOND PARTNERSHIP 73 EQR-BRAMBLEWOOD GP LP 74 EQR-BRAMBLEWOOD LP 75 EQR-BRETON HAMMOCKS FINANCING LIMITED PARTNERSHIP 76 EQR-BRIARWOOD GP LP 77 EQR-BRIARWOOD LP 78 EQR-BROADWAY LP 79 EQR-BS FINANCING LIMITED PARTNERSHIP 80 EQR-CALIFORNIA, L.L.C 81 EQR-CAMELLERO FINANCING LIMITED PARTNERSHIP 82 EQR-CANTER CHASE GENERAL PARTNERSHIP 83 EQR-CEDAR POINTE GP LP 84 EQR-CEDAR POINTE LP 85 EQR-CEDAR RIDGE GP, LLC 86 EQR-CEDAR RIDGE LP 87 EQR-CHARDONNAY PARK, L.L.C. 88 EQR-CHELSEA SQUARE GP LP 89 EQR-CHELSEA SQUARE LP 90 EQR-COACHMAN TRIALS, LLC 91 EQR-CONNOR, LLC 92 EQR-CONTINENTAL VILLAS FINANCING LIMITED PARTNERSHIP 93 EQR-CREEKSIDE GP LP 94 EQR-CREEKSIDE LP 95 EQR-CREEKSIDE OAKS GENERAL PARTNERSHIP 96 EQR-DARTMOUTH WOODS GENERAL PARTNERSHIP 97 EQR-DORAL FINANCING LIMITED PARTNERSHIP 98 EQR-EMERALD PLACE FINANCING LIMITED PARTNERSHIP 99 EQR-EOI FINANCING LIMITED PARTNERSHIP 100 EQR-ESSEX PLACE FINANCING LIMITED PARTNERSHIP ----------------------------------------------------------------- EQUITY RESIDENTIAL PROPERTIES TRUST SUBSIDIARIES ----------------------------------------------------------------- ENTITY ----------------------------------------------------------------- 101 EQR-FAIRFIELD, LLC 102 EQR-FERNBROOK, LLC 103 EQR-FIELDERS CROSSING GP, LLC 104 EQR-FIELDERS CROSSING LP 105 EQR-FLATLANDS, LLC 106 EQR-GOVERNOR'S PLACE FINANCING LIMITED PARTNERSHIP 107 EQR-GRANDVIEW I GP LP 108 EQR-GRANDVIEW I LP 109 EQR-GRANDVIEW II GP LP 110 EQR-GRANDVIEW II LP 111 EQR-GREENHAVEN GP LP 112 EQR-GREENHAVEN LP 113 EQR-HIGHLINE OAKS, L.L.C. 114 EQR-IRONWOOD, L.L.C. 115 EQR-KEYSTONE FINANCING GENERAL PARTNERSHIP 116 EQR-LAKESHORE AT PRESTON LP 117 EQR-LAKEVILLE RESORT GENERAL PARTNERSHIP 118 EQR-LAKEWOOD GREENS GP, LLC 119 EQR-LAKEWOOD GREENS LP 120 EQR-LEXINGTON FARM, LLC 121 EQR-LINCOLN GREEN I AND II GP LIMITED PARTNERSHIP 122 EQR-LINCOLN VILLAGE (CA) I LP 123 EQR-LINCOLN VILLAGE (CA) II LP 124 EQR-LODGE (OK) GP LIMITED PARTNERSHIP 125 EQR-MARKS A, L.L.C. 126 EQR-MARKS B, L.L.C. 127 EQR-MARTINS LANDING, LLC 128 EQR-MET CA FINANCING LIMITED PARTNERSHIP 129 EQR-MET FINANCING LIMITED PARTNERSHIP 130 EQR-MISSOURI, L.L.C. 131 EQR-MOUNTAIN SHADOWS GP LP 132 EQR-MOUNTAIN SHADOWS LP 133 EQR-NORTH CREEK, LLC 134 EQR-NORTH HILL, L.L.C. 135 EQR-OLDE REDMOND GP LP 136 EQR-OLDE REDMOND LP 137 EQR-OLDE REDMOND LP LP 138 EQR-OREGON, L.L.C. 139 EQR-OVERLOOK MANOR II, LLC 140 EQR-PARK PLACE I GENERAL PARTNERSHIP 141 EQR-PARK PLACE II GENERAL PARTNERSHIP 142 EQR-PARKCREST, LLC 143 EQR-PARKSIDE LP 144 EQR-PINE MEADOWS GARDEN GENERAL PARTNERSHIP 145 EQR-PLANTATION FINANCING LIMITED PARTNERSHIP 146 EQR-PLANTATION, L.L.C. 147 EQR-PLEASANT RIDGE LP 148 EQR-PORTLAND CENTER, LLC 149 EQR-PRESTON BEND, G.P. 150 EQR-RESERVE SQUARE LIMITED PARTNERSHIP ----------------------------------------------------------------- EQUITY RESIDENTIAL PROPERTIES TRUST SUBSIDIARIES ----------------------------------------------------------------- ENTITY ----------------------------------------------------------------- 151 EQR-RIDGEMONT/MOUNTAIN BROOK, L.L.C. 152 EQR-RIVER PARK LP 153 EQR-SANDSTONE LP 154 EQR-SKYLARK, LLC 155 EQR-SMOKETREE, LLC 156 EQR-SONTERRA AT FOOTHILLS RANCH LP 157 EQR-SOUTHWOOD GP LP 158 EQR-SOUTHWOOD LP 159 EQR-SOUTHWOOD LP I LP 160 EQR-SOUTHWOOD LP II LP 161 EQR-SPINNAKER COVE, L.L.C. 162 EQR-SUMMER CREEK, LLC 163 EQR-SUMMERWOOD GP LP 164 EQR-SUMMERWOOD LP 165 EQR-SURREY DOWNS GP LP 166 EQR-SURREY DOWNS LP 167 EQR-SURREY DOWNS LP LP 168 EQR-SWN LINE FINANCING LIMITED PARTNERSHIP 169 EQR-TANASBOURNE TERRACE FINANCING LIMITED PARTNERSHIP 170 EQR-TENNESSEE LP 171 EQR-THE LAKES AT VININGS, LLC 172 EQR-TIMBERWOOD GP LP 173 EQR-TIMBERWOOD LP 174 EQR-TOWNHOMES OF MEADOWBROOK, LLC 175 EQR-TRAILS AT DOMINION GENERAL PARTNERSHIP 176 EQR-VALLEY PARK SOUTH FINANCING LIMITED PARTNERSHIP 177 EQR-VILLA SERENAS GENERAL PARTNERSHIP 178 EQR-VILLAGE OAKS GENERAL PARTNERSHIP 179 EQR-VILLAS OF JOSEY RANCH GP, LLC 180 EQR-VILLAS OF JOSEY RANCH LP 181 EQR-VININGS AT ASHLEY LAKE, L.L.C. 182 EQR-VIRGINIA, L.L.C. 183 EQR-WARWICK, L.L.C. 184 EQR-WASHINGTON, L.L.C. 185 EQR-WATERFALL, L.L.C. 186 EQR-WATSON G.P. 187 EQR-WELLINGTON, L.L.C. 188 EQR-WEST COAST PORTFOLIO GP, LLC 189 EQR-WIMBLEDON OAKS LP 190 EQR-WOODLAKE GP LP 191 EQR-WOODLAKE LP 192 EQR-WOODLEAF GP LP 193 EQR-WOODLEAF LP 194 EQR-WOODRIDGE I LP 195 EQR-WOODRIDGE II LP 196 EQR-WOODRIDGE III LP 197 EQR-WOODRIDGE, LLC 198 EQR-WYNDRIDGE II, L.L.C. 199 EQR-WYNDRIDGE III, L.L.C. 200 EQR-YORKTOWNE FINANCING LIMITED PARTNERSHIP ----------------------------------------------------------------- EQUITY RESIDENTIAL PROPERTIES TRUST SUBSIDIARIES ----------------------------------------------------------------- ENTITY ----------------------------------------------------------------- 201 EQUITY-GREEN I VENTURE LIMITED PARTNERSHIP 202 EQUITY-GREEN II VENTURE LIMITED PARTNERSHIP 203 EQUITY-LODGE VENTURE LTD. 204 EQUITY-STONEBROOK VENTURE LTD. 205 ERP-SOUTHEAST PROPERTIES, LLC 206 E-STONEBROOK ASSOCIATES 207 EVANS WITHYCOMBE FINANCE, L.P. 208 EW CHANDLER, L.P. 209 FOREST PLACE ASSOCIATES 210 FOURTH TOWNE CENTRE LIMITED PARTNERSHIP 211 FPAII, L.P. 212 Geary Courtyard Associates 213 GEORGIAN WOODS ANNEX ASSOCIATES 214 GLENLAKE CLUB L.P. 215 GREENWICH WOODS LIMITED PARTNERSHIP 216 HAMMOCKS AT LONG POINT, LLC 217 HORIZON PLACE ASSOCIATES 218 HUNTERS'S GLEN GENERAL PARTNERSHIP 219 HUNTINGTON, LLC 220 LANDON LEGACY PARTNERS LIMITED 221 LANDON PRAIRIE CREEK PARTNERS LIMITED 222 LENOX PLACE LP 223 MAGNOLIA VILLA, LLC 224 MCCASLIN HIDDEN LAKES, LTD. 225 MCCASLIN RIVERHILL, LTD. 226 MCKINLEY HILLS PARTNERS-85, 227 MERRY LAND DOWNREIT I LP 228 MERRY LAND, LLC 229 ML NORTH CAROLINA APARTMENTS LP 230 ML TENNESSEE APARTMENTS LP 231 ML TEXAS APARTMENTS LP 232 NORTHRIDGE LAKES LP 233 NRL ASSOCIATES LP 234 OAKS AT BAYMEADOWS ASSOCIATES 235 OAKS AT REGENCY ASSOCIATES 236 ROLIDO PARQUE GP 237 ROSEHILL POINTE GENERAL PARTNERSHIP 238 SARASOTA BENEVA PLACE ASSOICATES, LTD. 239 SEAGULL DRIVE JOINT VENTURE 240 SECOND COUNRTY CLUB ASSOCIATES LIMITED PARTNERSHIP 241 SECOND GEORGIAN WOODS LIMITED PARTNERSHIP 242 SONGBIRD GENERAL PARTNERSHIP 243 SUMMIT PLACE, LLC 244 SUNNY OAK VILLAGE GENERAL PARTNERSHIP 245 THE CROSSINGS ASSOCIATES 246 THE GATES OF REDMOND, L.L.C. 247 THE WIMBERLY APARTMENT HOMES, LTD. 248 THIRD TOWNE CENTRE LIMITED PARTNERSHIP 249 TOWERS AT PORTSIDE URBAN RENEWAL COMPANY, LLC 250 VININGS CLUB AT METROWEST LP ----------------------------------------------------------------- EQUITY RESIDENTIAL PROPERTIES TRUST SUBSIDIARIES ----------------------------------------------------------------- ENTITY ----------------------------------------------------------------- 251 WINDSOR PLACE, LLC 252 WOOD FOREST ASSOCIATES 253 WOODCREST (AUGUSTA), LLC 254 CRP SERVICE COMPANY, LLC 255 DUXFORD, LLC 256 EQR-BENEVA PLACE, LLC 257 EQR-BROOKDALE VILLAGE, LLC 258 EQR-CHICKASAW CROSSING, LLC 259 EQR-CODELLE, LLC 260 EQR-FOREST PLACE, LLC 261 EQR-GEORGIAN WOODS, LLC 262 EQR-HORIZON PLACE, LLC 263 EQR-LEXFORD LENDER, LLC 264 EQR-MOSAIC, LLC 265 EQR-NEW ENGLAND PROGRAM, LLC 266 EQR-PINETREE/WESTBROOKE, LLC 267 EQR-S & T, LLC 268 EQR-SABLE PALM AT LAKE BUENA VISTA, LLC 269 EQR-SCARBOROUGH SQUARE, LLC 270 EQR-TENNESSEE LOAN PORTFOLIO. LLC 271 EQR-THE WATERFORD AT DEERWOOD, LLC 272 EQR-THE WATERFORD AT ORANGE PARK, LLC 273 EQR-THE WATERFORD AT REGENCY, LLC 274 EQR-WOOD FOREST, LLC 275 GREENTREE APARTMENTS LP 276 LEXFORD GP II, LLC 277 LEXFORD PARTNERS, LLC 278 LEXFORD PROPERTIES MANAGEMENT, LLC 279 OLD REDWOODS, LLC 280 SCARBOROUGH ASSOCIATES 281 SECOND TOWNE CENTRE LP 282 THIRD GREENTREE ASSOCIATES LP 283 WOODBINE PROPERTIES EQUITY RESIDENTIAL PROPERTIES TRUST QUALIFIED REIT SUBSIDIARIES: 1 EQR-QRS HIGHLINE OAKS, INC 2 EQR-QRS RIDGEMONT/MOUNTAIN BROOK, INC 3 EQR-QRS SPINNAKER COVE, INC. 4 EQR-QRS WYNDRIDGE II, INC. 5 EQR-QRS WYNDRIDGE III, INC. 6 ERP-QRS ARBORS, INC. 7 ERP-QRS BRETON HAMMOCKS, INC. 8 ERP-QRS BS, INC. 9 ERP-QRS CAMELLERO, INC. 10 ERP-QRS CANTER CHASE, INC. 11 ERP-QRS CEDAR CREST, INC. 12 ERP-QRS CEDAR RIDGE, INC. 13 ERP-QRS CHAPARRAL CREEK, INC. 14 ERP-QRS CONTINENTAL VILLAS, INC. 15 ERP-QRS COUNTRY CLUB I, INC. 16 ERP-QRS COUNTRY CLUB II, INC. 17 ERP-QRS COUNTRY RIDGE, INC. 18 ERP-QRS CPRT II, INC. 19 ERP-QRS CPRT, INC. 20 ERP-QRS CREEKSIDE OAKS, INC. 21 ERP-QRS DARTMOUTH WOODS, INC. 22 ERP-QRS DORAL, INC. 23 ERP-QRS EMERALD PLACE, INC. 24 ERP-QRS EOI, INC. 25 ERP-QRS ESSEX PLACE, INC. 26 ERP-QRS FAIRFIELD, INC. 27 ERP-QRS FLATLANDS, INC. 28 ERP-QRS GEORGIAN WOODS ANNEX, INC. 29 ERP-QRS GLENLAKE CLUB, INC. 30 ERP-QRS GOVERNOR'S PLACE, INC. 31 ERP-QRS GREENWICH WOODS, INC. 32 ERP-QRS HARBOR POINTE, INC. 33 ERP-QRS HUNTER'S GLEN, INC. 34 ERP-QRS LAKEVILLE RESORT, INC. 35 ERP-QRS LAKEWOOD GREENS, INC. 36 ERP-QRS LINCOLN GREEN, INC. 37 ERP-QRS LODGE (OK), INC. 38 ERP-QRS MAGNUM, INC. 39 ERP-QRS MET CA, INC. 40 ERP-QRS MET, INC. 41 ERP-QRS NORTHAMPTON I, INC. 42 ERP-QRS PARK PLACE I, INC. 43 ERP-QRS PARK PLACE II, INC. EQUITY RESIDENTIAL PROPERTIES TRUST QUALIFIED REIT SUBSIDIARIES: 44 ERP-QRS PINE MEADOWS GARDEN, INC. 45 ERP-QRS PLANTATION, INC. 46 ERP-QRS PRESTON BEND, INC. 47 ERP-QRS RESERVE SQUARE, INC. 48 ERP-QRS ROLIDO PARQUE, INC. 49 ERP-QRS ROSEHILL POINTE, INC. 50 ERP-QRS SLEEPY HOLLOW, INC. 51 ERP-QRS SONGBIRD, INC. 52 ERP-QRS SONTERRA AT FOOTHILLS RANCH, INC. 53 ERP-QRS STONEBROOK, INC. 54 ERP-QRS SUNNY OAK VILLAGE, INC. 55 ERP-QRS SWN LINE, INC. 56 ERP-QRS TANASBOURNE TERRACE, INC. 57 ERP-QRS TOWNE CENTRE III, INC. 58 ERP-QRS TOWNE CENTRE IV, INC. 59 ERP-QRS TRAILS AT DOMINION, INC. 60 ERP-QRS VALLEY PARK SOUTH, INC. 61 ERP-QRS VILLA SERENAS, INC. 62 ERP-QRS VILLAGE OAKS, INC. 63 ERP-QRS WATSON, INC. 64 ERP-QRS WELLINGTON HILL, INC. 65 ERP-QRS YORKTOWNE, INC. 66 EVANS WITHYCOMBE FINANCE, INC 67 MERRY LAND & INVESTMENT COMPANY, INC. 68 MERRY LAND APARTMENT COMMUNITIES, INC. 69 QRS IRONWOOD, INC. 70 QRS MARKS A, INC. 71 QRS MARKS B, INC. 72 QRS MISSOURI, INC. 73 QRS WARWICK, INC. 74 QRS-740 RIVER DRIVE, INC. 75 QRS-ARBORETUM, INC. 76 QRS-ARTBHOLDER, INC. 77 QRS-ARTCAPLOAN, INC. 78 QRS-BOND, INC. 79 QRS-CHARDONNAY PARK, INC 80 QRS-CONNOR, INC. 81 QRS-FERNBROOK, INC. 82 QRS-GATES OF REDMOND, INC 83 QRS-GREENTREE I, INC. 84 QRS-GREENTREE III, INC. 85 QRS-LLC, INC. 86 QRS-NORTH HILL, INC EQUITY RESIDENTIAL PROPERTIES TRUST QUALIFIED REIT SUBSIDIARIES: 87 QRS-PORTLAND CENTER, INC. 88 QRS-SCARBOROUGH, INC. 89 QRS-SMOKETREE, INC. 90 QRS-TOWERS AT PORTSIDE, INC. 91 QRS-TOWNHOMES OF MEADOWBROOK, INC. 92 QRS-VININGS AT ASHLEY LAKE, INC. 93 QRS-WATERFALL, INC. 94 QRS-WOODRIDGE, INC. 95 WADLINGTON, INC. 96 EQR-BENEVA PLACE, INC. 97 EQR-CHICKASAW CROSSING, INC. 98 EQR-FOREST PLACE, INC. 99 EQR-HORIZON PLACE, INC. 100 EQR-SABLE PALM AT LAKE BUENA VISTA, INC. 101 EQR-THE WATERFORD AT DEERWOOD, INC. 102 EQR-THE WATERFORD AT ORANGE PARK, INC. 103 EQR-THE WATERFORD AT REGENCY, INC. 104 EQR-WOOD FOREST, INC. 105 ERP-QRS LONGFELLOW, INC. 106 ERP-QRS MANCHESTER HILL, INC. 107 ERP-QRS MARBRISA, INC. 108 ERP-QRS S&T, INC. 109 ERP-QRS TENNESSEE, INC. 110 QRS-CODELLE, INC. 111 QRS-TENNESSEE LOAN PORTFOLIO, INC.