EXHIBIT 21

SUBSIDIARIES OF THE REGISTRANT

Arapahoe Crossings, LP

Avion Service Corp.

BPR Land Partnership L.P.

BPR Shopping Center L.P.

Briar Preston Ridge Partners L.P.

Briar Preston Ridge South L.P.

CA Harwood, L.P.

CA New Plan III

CA New Plan IV

CA New Plan V

CA New Plan VI

CA New Plan Acquisition Fund, LLC

CA New Plan Asset, Inc.

CA New Plan Asset Partnership IV, L.P.

CA New Plan Fixed Rate Partnership, L.P.

CA New Plan Fixed Rate SPE, Inc.

CA New Plan Management, Inc.

CA New Plan Merchants Crossings Partnership, L.P.

CA New Plan Merchants Crossing SPE, Inc.

CA New Plan Sarasota, L.P.

CA New Plan Texas Assets, Inc

CA New Plan Texas Assets, LP

CA New Plan Venture Direct Investment Fund, LLC

CA New Plan Venture Fund, LLC

CA New Plan Venture Partner

Clearwater Mall, LLC

ERPF, Inc.

ERP Australian Member, LLC

ERP EastChase, LLC

ERP Financing, LLC

ERP Hillcrest, LLC

ERP Mingo Marketplace, LLC

ERP New Britain GP, LLC

ERP New Britain Holdings, L.P.

ERP New Britain Limited Partnership

ERP New Britain Mezz GP, LLC

ERP New Britain Property Owner, L.P.

ERP of Midway, LLC

ERT Aus Mgt LP Corp.

ERT AusMgt GP LLC

ERT Australian Management, L.P.

ERT 163^rd Street Mall, LLC

ERT Development Corporation

ERT Pointe Orlando, Inc.

ERT Southland, LLC

Excel Realty Partners, LP

Excel Realty — PA, Inc.

Excel Realty Trust — NC

Excel Realty Trust — ST, Inc.

Galileo America LLC

HK New Plan Alexis Park GP, LLC

HK New Plan Alexis Park, LP

HK New Plan Arvada Plaza, LLC

HK New Plan Covered Sun, LLC

HK New Plan ERP Property Holdings, LLC

HK New Plan Exchange Property Holdings I, LLC

HK New Plan Exchange Property Holdings III, LLC

HK New Plan Exchange Property Holdings IV, LLC

HK New Plan Exchange Property Owner I, LLC

HK New Plan Exchange Property Owner II, LP

HK New Plan Exchange Property Owner III, LLC

HK New Plan Exchange Property Owner IV, LLC

HK New Plan Exchange Upper Tier QRS Holding Company

HK New Plan Festival Center (IL), LLC

HK New Plan Hunt River Commons, LLC

HK New Plan Karl Plaza GP, LLC

HK New Plan Karl Plaza, LP

HK New Plan Lexington Town Square, LLC

HK New Plan Lower Tier OH, LLC

HK New Plan Macon Chapman, LP

HK New Plan Macon Chapman QRS LP Company

HK New Plan Macon Chapman TRS GP Company

HK New Plan Marwood Sunshine Cheyenne, LLC

HK New Plan Merchants Crossing, LLC

HK New Plan Mid Tier OH, LP

HK New Plan OH TRS, Inc.

HK New Plan Olympia Corners, LLC

HK New Plan Skyway Plaza, LLC

HK New Plan STH Lower Tier, LLC

HK New Plan STH Mid Tier I, LLC

HK New Plan STH Mid Tier II, LLC

HK New Plan STH Northshore Plaza LP Company

HK New Plan STH Upper Tier I, LLC

HK New Plan STH Upper Tier II Company

HK New Plan University IV, LLC

HK New Plan Vineyards GP, LLC

HK New Plan Vineyards, LP

NC Properties #1, Inc.

NC Properties #2, Inc.

New Plan Acquisition Company, LLC

New Plan Australian Management, L.P.

New Plan Australian Member, LLC

New Plan Conyers Crossroads Management Company, LLC

New Plan Conyers Crossroads Management Company II, LLC

New Plan Disbursing Corp.

New Plan DRP Trust

New Plan East Cherokee Management Company, LLC

New Plan EastChase Management Company, LLC

New Plan of Elk Grove, LLC

New Plan ERP Limited Partner Company

New Plan ERT HD Florida, LLC

New Plan ERT HD Louisiana, LLC

New Plan ERT HD Ohio, LLC

New Plan Financing I, Inc.

New Plan Flowery Branch Management Company, LLC

New Plan Hampton Village, LLC

New Plan Institutional Retail Partner, LLC

New Plan Institutional Retail Partner II, LLC

New Plan Lake Grove Management Company, LLC

New Plan Meridian Management Company, LLC

New Plan MP Management Company, Inc.

New Plan New London Management Company, LLC

New Plan NPK Management Company I, LLC

New Plan NPK Redevelopment I, LLC

New Plan Pennsylvania Holdings LLC

New Plan Property Holding Company

New Plan Riverplace Management Company, LLC

New Plan Rolling Meadows Management Company, LLC

New Plan Skytop Pavilion Management Company, LLC

New Plan Westgate Management Company, LLC

New Plan of Arlington Heights, LLC

New Plan of Fashion Corners, Inc.

New Plan of Fashion Place, LLC

New Plan of Hillside Village, LLC

New Plan of Illinois, LLC

New Plan of Laurel Mall, Inc.

New Plan of Michigan, LLC

New Plan of Michigan, Inc.

New Plan of New Garden, Inc.

New Plan Quail Springs Management Company, LLC

New Plan of Silver Pointe, LLC

New Plan of Tennessee, Inc.

New Plan of Tinton Falls, Inc.

New Plan of West Ridge, LLC

New Plan Realty of Alabama, Inc.

New Plan Realty Trust

New Plan Securities Corp.

New Plan Westgate Partners, LLC

New Plan Westpark Management Company, LLC

New Plan Westpark Managment Company II, LLC

NPHV, Inc.

NP/I&G Institutional Retail Company, LLC

NP/I&G Institutional Retail Company II, LLC

NP AusMgt LP Corp.

NP AusMgt GP LLC

NP of Tennessee, LP

NPK Development I, LLC

NPTN, Inc.

Pointe Orlando Development Company

Red Zone Development, LLC

Westgate Mall, LLC