1 AMERICAN INDUSTRIAL PROPERTIES REIT NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) EXHIBIT 21.1 ENTITY: AMERICAN INDUSTRIAL PROPERTIES REIT, A TEXAS REAL ESTATE INVESTMENT TRUST OWNERSHIP PERCENTAGE SUBSIDIARY/PARTNER - -------------------------- ------------------------------------------------------------------ 100% American Industrial Properties REIT, Inc., a Maryland corporation 100% AIP Tamarac, Inc., a Texas corporation 99% Limited Partner AIP Properties #1, L.P., a Delaware limited partnership 100% AIP Northview, Inc., a Texas corporation 99% Limited Partner AIP Properties #2, L.P., a Delaware limited partnership 100% AIP Properties #3, GP, Inc., a Texas corporation 99% Limited Partner AIP Properties #3, L.P., a Delaware limited partnership 100% AIP-SWAG GP, Inc., a Texas corporation 55.84% Joint Venture USAA Chelmsford Associates Joint Venture ENTITY: AIP TAMARAC, INC., A TEXAS CORPORATION OWNERSHIP PERCENTAGE PARTNER - -------------------------- ---------------------------------------------------------------------- 1% General Partner AIP Properties #1, L.P., a Delaware limited partnership ENTITY: AIP NORTHVIEW, INC., A TEXAS CORPORATION OWNERSHIP PERCENTAGE PARTNER - -------------------------- --------------------------------------------------------------------- 1% General Partner AIP Properties #2, L.P., a Delaware limited partnership ENTITY: AIP PROPERTIES #3 GP, INC., A TEXAS CORPORATION OWNERSHIP PERCENTAGE PARTNER - -------------------------- --------------------------------------------------------------------- 1% General Partner AIP Properties #3, L.P., a Delaware limited partnership ENTITY: AIP SWAG GP, INC., A TEXAS CORPORATION OWNERSHIP PERCENTAGE PARTNER - -------------------------- --------------------------------------------------------------------- 98% General Partner AIP-SWAG Operating Partnership, L.P., a Delaware limited partnership