Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

Crest Net Lease, Inc.	Corporation	Delaware	Realty Income Corporation	100%

O CHK, Inc.	Corporation	Delaware	Realty Income Corporation	100%

Realty Income Pennsylvania Prop Trust	Trust	Maryland	Realty Income Corporation	100%

Realty Income Pennsylvania Prop Trust 2	Trust	Maryland	Realty Income Corporation	100%

Realty Income Trust 1	Trust	Maryland	Realty Income Corporation	100%

Realty Income Trust 2	Trust	Maryland	Realty Income Corporation	100%

Realty Income Trust 3	Trust	Maryland	Realty Income Corporation	100%

RI Trust 1 Holding	Trust	Maryland	Realty Income Trust 1	100%

Realty Income Sub Trust 319	Trust	Maryland	Realty Income Trust 1	100%

Realty Income Sub Trust 71	Trust	Maryland	Realty Income Trust 1	100%

Realty Income Sub Trust 63	Trust	Maryland	Realty Income Trust 1	100%

O ICE, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

RI CS 2, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

RI CS 3, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

RI CS 4, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

RI SE, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Illinois Properties 1, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Illinois Properties 2, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Illinois Properties 3, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Illinois Properties 4, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 1, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 2, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 3, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 4, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 5, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 6, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 9, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 10, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 11, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 12, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 13, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 14, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 15, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 16, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 17, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 18, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 19, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

Realty Income Properties 21, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 22, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 23, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 25, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 26, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 29, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Properties 30, LLC (formerly Terraza 9, LLC)	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Raphine, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Regent Blvd, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 1, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 2, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 3, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 4, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 5, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 6, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 7, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Terraza 8, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Magellan, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Acworth Cobb, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Alpharetta Windward, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Wilmington Military Cutoff, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Buffalo Genesee, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Beachwood Chagrin, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Euclid Lakeshore, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Pepper Pike Chagrin, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Shaker Heights Warrensville, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Mentor Plaza, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Providence LaSalle Square, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Realty Income Houston Orem, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Menlo Realty Income Acqusition Group, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Menlo Realty Income Properties 27, LLC	Limited Liability Company	Delaware	Menlo Realty Income Acqusition Group, LLC	100%

Menlo Realty Income Properties 28, LLC	Limited Liability Company	Delaware	Menlo Realty Income Acqusition Group, LLC	100%

Menlo Realty Income Trust 4	Trust	Maryland	Menlo Realty Income Acqusition Group, LLC	100%

Realty Income, L.P.	Limited Partnership	Maryland	Realty Income Corporation	100%

Realty Income CK1, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

RI TN 1, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

RI TN 2, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

RI GA 1, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

RI CS1, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

RI CS5, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

Realty Income Texas Properties 1, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

Realty Income Properties 7, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

Realty Income Properties 8, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

Realty Income Properties 20, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

Realty Income Properties 24, LLC	Limited Liability Company	Delaware	Realty Income, L.P.	100%

Tau Acquisition, LLC	Limited Liability Company	Delaware	Realty Income Corporation	100%

Tau Operating Partnership, LP	Limited Partnership	Delaware	Tau Acquisition, LLC	99.28%

Tau Atlantic, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Tau Central, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Tau Midwest, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Tau Northeast, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Tau NY-NJ, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Tau Pennsylvania, LP	Limited Partnership	Delaware	Tau Operating Partnership, LP	100%

Tau South, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Tau West, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHCINOH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHLVRCA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHPKRCO001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHSHWKS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHTPKKS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHALXLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHSPFMO001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHABQNM001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHROCNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHBVROR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHMPHTN002, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHMPHTN001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHEPSTX002, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHEPSTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHSGLTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHCTVUT001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHCVLVA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHROAVA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

LWAGPTIN LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

LWAGLVKY 1 LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

LWAGLVKY 2 LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

LWAGLVKY 3 LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

LWAGMFKY LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

LWAGRCKY LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

LWAGHTWV LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGAUBNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGSYRNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGPLTNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGGRCNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGOPKNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGGRCNY002, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC ESSTLMO001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC ESBKYMO001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC QTDECGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DFLWRKS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DDABBSC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DDSHRLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DDOKMOK001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DDWLMNC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WWYKTVA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WWALLPA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGMARVA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGMNFOH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGOTTIA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVKGCVA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGAMTLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FELSVKY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FESPFMO001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BFBENAR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BFGRJCO001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BFWCHKS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BFBRGLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BFAUSTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BFPRLTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCHIIL002, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC IHHHDSC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

ARC IHBUFGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC JBBEATX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC JBFERTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC JBFORTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC JBSHOTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC JBVICTX002, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC JBVICTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DGJKVFL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AADUNNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSMRKLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FEGFKND001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DGHLDFL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FEBKYWV001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FESTCMN001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FEDGCKS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FEHAYKS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BBFTMFL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSSNRCA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGCNWSC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FELNCNE001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DGGLLIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DGMRSIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DGMTZIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC DDLNCNE001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC LWKNXTN001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC SCAUGGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WMBLYAR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FESSPA001, DST	Trust	Delaware	Tau Operating Partnership, LP	100%

ARC FRSHLCA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FRAPVCA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC SSNANNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AAROKMI001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AACRSMS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGLERNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AAVICMS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AALAFLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AASDLLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

ARC AAWMNLA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AAHARAL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC SJHSPAR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC SJHSPAR002, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGMTPMI001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGGRPMN001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC SJHSPAR003, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC ORJOLIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSDUBPA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSELBPA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSMNFPA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AZGYAPR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AZHUMPR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AZPONPR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC AZSNJPR001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FESXFSD001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSLWBWV001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FEAARMI001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCHHMI001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CPSTPNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSDEMAL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TSNBSTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC HDTPAKS001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC PLBKVOH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC BSLBCCA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CHCARIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGJOLIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FTMTGIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CHNLKIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FTSCHIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGCHEAL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVDECGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGMRYOH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGUAROH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC WGAUSTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC HDAUSGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC ATMTPSC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

ARC RACADOH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC RACAROH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC RAELPOH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC RALISOH001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC RACARPA001 LP	Limited Partnership	Delaware	Tau Operating Partnership, LP	100%

ARC RAPITPA001 LP	Limited Partnership	Delaware	Tau Operating Partnership, LP	100%

ARC CVAUBAL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCHAAZ001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVPRACA001, DST	Trust	Delaware	Tau Operating Partnership, LP	100%

ARC CVGNVFL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVJKVFL001, DST	Trust	Delaware	Tau Operating Partnership, LP	100%

ARC CVEELGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVROMGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCSTIN001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVBIDME001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVBPKMN001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVHSVMO001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCRDNC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVHLSNC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVWKTNC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVRNONV001, DST	Trust	Delaware	Tau Operating Partnership, LP	100%

ARC KHGTNKY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC KHCLNIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC FESACCA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TITUCAZ001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC SYGRINY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TMDKBIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVASHNC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCHIIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCOLSC001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVCOPTX001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVMOLIL001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVNVLMI001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVPHXAZ001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVSMYGA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CVVISCA001 DST	Trust	Delaware	Tau Operating Partnership, LP	100%

ARC CVWILNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

Subsidiaries of the Company as of February 13, 2014

Exhibit 21.1

		State of		Percentage
Entity	Type	Incorporation	Owner	Owned

ARC FEBNXNY001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC SSCTRVT001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC JJPLYMA001, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC PA-QRS Trust Member LLC	Limited Liability Company	Delaware	Tau Acquisition, LLC	100%

ARC PA-QRS Trust	Trust	Delaware	ARC PA-QRS Trust Member LLC	100%

Tau Pennsylvania General Partner, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

American Realty Capital DST, I	Trust	Delaware	Tau Operating Partnership, LP	100%

American Realty Capital DST VI	Trust	Delaware	Tau Operating Partnership, LP	100%

ARC DSTMBR006, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC TRSMBR006 LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CAMBR BSPL, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CAMBR FESACCA, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC CAMBR RB, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC/Milestone Capital Ventures, LLC	Limited Liability Company	Delaware	Tau Operating Partnership, LP	100%

ARC RACARPA001 GP, LLC	Limited Liability Company	Delaware	ARC/Milestone Capital Ventures, LLC	100%

ARC RAPITPA001 GP, LLC	Limited Liability Company	Delaware	ARC/Milestone Capital Ventures, LLC	100%

ARCT TRS Corp.	Corporation	Delaware	Tau Operating Partnership, LP	100%

American Realty Capital Properties, LLC	Limited Liability Company	Delaware	ARCT TRS Corp.	100%