Exhibit 21.1

Subsidiaries of the Registrant

Subsidiaries

RRE Opportunity Holdings, LLC

Resource Real Estate Opportunity OP, LP

RRE 107th Avenue Holdings, LLC

RRE Westhollow Holdings, LLC

RRE Crestwood Holdings, LLC

RRE Iroquois, LP

RRE Iroquois Holdings, LLC

RRE Campus Club Holdings, LLC

RRE Heatherwood Holdings, LLC

RRE Bristol Holdings, LLC

RRE Cannery Holdings, LLC

RRE Williamsburg Holdings, LLC

WPL Holdings, LLC

RRE Skyview Holdings, LLC

RRE Park Forest Holdings, LLC

RRE Foxwood Holdings, LLC

RRE Flagstone Holdings, LLC

RRE Deerfield Holdings, LLC

RRE Kenwick & Canterbury Holdings, LLC

RRE Armand Place Holdings, LLC

RRE Autumn Wood Holdings, LLC

RRE Village Square Holdings, LLC

RRE Nob Hill Holdings, LLC

RRE Brentdale Holdings, LLC

RRE Jefferson Point Holdings, LLC

RRE Centennial Holdings, LLC

RRE Pinnacle Holdings, LLC

RRE Jasmine Holdings, LLC

RRE River Oaks Holdings, LLC

RRE Nicollet Ridge Holdings, LLC

RRE Charlemagne Holdings, LLC