Exhibit 21

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
Acadiana Expansion Parcel, LLC	Louisiana
Acadiana Mall of Delaware, LLC	Delaware
Acadiana Outparcel, LLC	Delaware
Akron Mall Land, LLC	Delaware
Alamance Crossing, LLC	North Carolina
APWM, LLC	Georgia
Arbor Place GP, Inc.	Georgia
Arbor Place II, LLC	Delaware
Arbor Place Limited Partnership	Georgia
Asheville, LLC	North Carolina
Bonita Lakes Mall Limited Partnership	Mississippi
Brannen Street Crossing, LLC	Georgia
Brookfield Square Joint Venture	Ohio
Brookfield Square Parcel, LLC	Wisconsin
Burnsville Minnesota II, LLC	Minnesota
Burnsville Minnesota, LLC	Minnesota
C.H. of Akron II, LLC	Delaware
C.H. of Akron, LLC	Delaware
Cadillac Associates Limited Partnership	Tennessee
Cary Venture Limited Partnership	Delaware
CBL & Associates Limited Partnership	Delaware
CBL & Associates Management, Inc.	Delaware
CBL Holdings I, Inc.	Delaware
CBL Holdings II, Inc.	Delaware
CBL Jarnigan Road, LLC	Delaware
CBL Morristown, LTD.	Tennessee
CBL Old Hickory Mall, Inc.	Tennessee
CBL Terrace Limited Partnership	Tennessee
CBL Triangle Town Member, LLC	North Carolina
CBL/34th Street St. Petersburg Limited Partnership	Florida

1

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
CBL/BFW Kiosks, LLC		Delaware
CBL/Brookfield I, LLC		Delaware
CBL/Brookfield II, LLC		Delaware
CBL/Cary I, LLC		Delaware
CBL/Cary II, LLC		Delaware
CBL/Cherryvale I, LLC		Delaware
CBL/Citadel I, LLC		Delaware
CBL/Citadel II, LLC		Delaware
CBL/Columbia I, LLC		Delaware
CBL/Columbia II, LLC		Delaware
CBL/Columbia Place, LLC		Delaware
CBL/Eastgate I, LLC		Delaware
CBL/Eastgate II, LLC		Delaware
CBL/Eastgate Mall, LLC		Delaware
CBL/Fayette I, LLC		Delaware
CBL/Fayette II, LLC		Delaware
CBL/Foothills Plaza Partnership		Tennessee
CBL/GP Cary, Inc.		North Carolina
CBL/GP I, Inc.		Tennessee
CBL/GP II, Inc.		Wyoming
CBL/GP III, Inc.		Mississippi
CBL/GP V, Inc.		Tennessee
CBL/GP VI, Inc.		Tennessee
CBL/GP, Inc.		Wyoming
CBL/Gulf Coast, LLC		Florida
CBL/High Pointe GP, LLC		Delaware
CBL/High Pointe, LLC		Delaware
CBL/Huntsville, LLC		Delaware
CBL/Imperial Valley GP, LLC		California
CBL/J I, LLC		Delaware
CBL/J II, LLC		Delaware
CBL/Jefferson I, LLC		Delaware
CBL/Jefferson II, LLC		Delaware
CBL/Kentucky Oaks, LLC		Delaware
CBL/Low Limited Partnership		Wyoming
CBL/Madison I, LLC		Delaware
CBL/Madison I, LLC		Delaware
CBL/Midland I, LLC		Delaware

2

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
CBL/Midland II, LLC		Delaware
CBL/Monroeville Expansion I, LLC		Pennsylvania
CBL/Monroeville Expansion II, LLC		Pennsylvania
CBL/Monroeville Expansion III, LLC		Pennsylvania
CBL/Monroeville Expansion Partner, L.P.		Pennsylvania
CBL/Monroeville Expansion, L.P.		Pennsylvania
CBL/Monroeville I, LLC		Delaware
CBL/Monroeville II, LLC		Pennsylvania
CBL/Monroeville III, LLC		Pennsylvania
CBL/Monroeville Partner, L.P.		Pennsylvania
CBL/Monroeville, L.P.		Pennsylvania
CBL/MSC II, LLC		South Carolina
CBL/MSC, LLC		South Carolina
CBL/Nashua Limited Partnership		New Hampshire
CBL/Northwoods I, LLC		Delaware
CBL/Northwoods II, LLC		Delaware
CBL/Old Hickory I, LLC		Delaware
CBL/Old Hickory II, LLC		Delaware
CBL/Park Plaza GP, LLC		Arkansas
CBL/Park Plaza Mall, LLC		Delaware
CBL/Park Plaza, Limited Partnership		Arkansas
CBL/Parkdale Crossing GP, LLC		Delaware
CBL/Parkdale Crossing, L.P.		Texas
CBL/Parkdale Mall GP, LLC		Delaware
CBL/Parkdale Mall, L.P.		Texas
CBL/Parkdale, LLC		Texas
CBL/Plantation Plaza, L.P.		Virginia
CBL/Regency I, LLC		Delaware
CBL/Regency II, LLC		Delaware
CBL/Richland G.P., LLC		Texas
CBL/Richland Mall, L.P.		Texas
CBL/Settler’s Ridge GP, LLC		Pennsylvania
CBL/Settler’s Ridge LP, LLC		Pennsylvania
CBL/Stroud, Inc.		Pennsylvania
CBL/Suburban, Inc.		Tennessee
CBL/Sunrise Commons GP, LLC		Delaware
CBL/Sunrise Commons, L.P.		Texas
CBL/Sunrise GP, LLC		Delaware
CBL/Sunrise Land, LLC		Texas

3

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
CBL/Sunrise Mall, L.P.		Texas
CBL/Sunrise XS Land, L.P.		Texas
CBL/Tampa Keystone Limited Partnership		Florida
CBL/Towne Mall I, LLC		Delaware
CBL/Towne Mall II, LLC		Delaware
CBL/Wausau I, LLC		Delaware
CBL/Wausau II, LLC		Delaware
CBL/Wausau III, LLC		Delaware
CBL/Wausau IV, LLC		Delaware
CBL/Westmoreland Ground, LLC		Pennsylvania
CBL/Westmoreland I, LLC		Pennsylvania
CBL/Westmoreland II, LLC		Pennsylvania
CBL/Westmoreland, L.P.		Pennsylvania
CBL/York Town Center GP, LLC		Delaware
CBL/York Town Center, LLC		Delaware
CBL/York, Inc.		Pennsylvania
Charleston Joint Venture		Ohio
Charter Oak Marketplace, LLC		Connecticut
Cherryvale Mall, LLC		Delaware
Chesterfield Crossing, LLC		Virginia
Chicopee Marketplace II, LLC		Massachusetts
Chicopee Marketplace III, LLC		Massachusetts
CHM/Akron, LLC		Delaware
Citadel Mall DSG, LLC		South Carolina
Coastal Grand, LLC		Delaware
Cobblestone Village at Palm Coast, LLC		Florida
Cobblestone Village at Royal Palm Beach II, LLC		Florida
College Station Partners, Ltd.		Texas
Columbia Joint Venture		Ohio
Columbia Place/Anchor, LLC		South Carolina
Coolsprings Crossing Limited Partnership		Tennessee
Cortlandt Town Center Limited Partnership		New York
Cortlandt Town Center, Inc.		New York
Courtyard at Hickory Hollow Limited Partnership		Delaware
Creekwood Gateway, LLC		Florida
Cross Creek Mall, LLC		North Carolina
Crossville Associates Limited Partnership		Tennessee
CV at North Columbus, LLC		Georgia
CVPC-Lo, LLC		Florida
CVPC-Outparcels, LLC		Florida

4

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
Deco Mall, LLC		Delaware
Development Options Centers, LLC		Delaware
Development Options, Inc.		Wyoming
Development Options/Cobblestone, LLC		Florida
Eastgate Company		Ohio
Eastland Mall, LLC		Delaware
Eastland Medical Building, LLC		Illinois
Eastridge, LLC		North Carolina
ERMC II, L.P.		Tennessee
ERMC III, L.P.		Tennessee
ERMC IV, LP		Tennessee
ERMC V, L.P.		Tennessee
Fayette Development Property, LLC		Kentucky
Foothills Mall Associates, LP		Tennessee
Foothills Mall, Inc.		Tennessee
Frontier Mall Associates Limited Partnership		Wyoming
Galleria Associates, L.P., The		Tennessee
Georgia Square Associates, Ltd.		Georgia
Georgia Square Partnership		Georgia
Governor’s Square Company IB		Ohio
Governor’s Square Company		Ohio
Greenbrier Mall II, LLC		Delaware
Greenbrier Mall, LLC		Delaware
Gulf Coast Town Center Peripheral I, LLC		Florida
Gulf Coast Town Center Peripheral II, LLC		Florida
Gunbarrel Commons, LLC		Tennessee
Hamilton Place Mall General Partnership		Tennessee
Hamilton Place Mall/GP I, LLC		Delaware
Hamilton Place Mall/GP II, LLC		Delaware
Hammock Landing/West Melbourne, LLC		Florida
Hanes Mall DSG, LLC		North Carolina
Harford Mall Business Trust		Maryland
Henderson Square Limited Partnership		North Carolina
Hickory Hollow Courtyard, Inc.		Delaware
Hickory Hollow Mall Limited Partnership		Delaware
Hickory Hollow Mall, Inc.		Delaware
Hickory Hollow/SB, LLC		Tennessee
Hickory Point Outparcels, LLC		Illinois
Hickory Point, LLC		Delaware

5

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
High Point Development Limited Partnership		North Carolina
High Point Development Limited Partnership II		North Carolina
High Pointe Commons Holding GP, LLC		Delaware
High Pointe Commons Holding, LP		Pennsylvania
High Pointe Commons, LP		Pennsylvania
Honey Creek Mall, LLC		Indiana
Houston Willowbrook LLC		Texas
Imperial Valley Commons, L.P.		California
Imperial Valley Mall GP, LLC		Delaware
Imperial Valley Mall II, L.P.		California
Imperial Valley Mall, L.P.		California
Imperial Valley Peripheral, L.P.		California
IV Commons, LLC		California
IV Outparcels, LLC		California
Janesville Mall Limited Partnership		Wisconsin
Janesville Wisconsin, Inc.		Wisconsin
Jarnigan Road II, LLC		Delaware
Jarnigan Road III, LLC		Tennessee
Jarnigan Road Limited Partnership		Tennessee
Jefferson Mall Company		Ohio
Jefferson Mall Company II, LLC		Delaware
JG Gulf Coast Town Center, LLC		Ohio
JG Randolph II, LLC		Delaware
JG Randolph, LLC		Ohio
JG Saginaw II, LLC		Delaware
JG Saginaw, LLC		Ohio
JG Winston-Salem, LLC		Ohio
Kentucky Oaks Mall Company		Ohio
LaGrange Commons Limited Partnership		New York
Lakes Mall, LLC, The		Michigan
Lakeshore/Sebring Limited Partnership		Florida
Lakeview Pointe, LLC		Oklahoma
Landing at Arbor Place II, LLC, The		Delaware
Laredo/MDN II Limited Partnership		Texas
Laredo/MDN Limited Partnership		Texas
Laurel Park Retail Holding LLC		Michigan
Laurel Park Retail Properties LLC		Delaware
LeaseCo, Inc.		New York
Lebcon Associates		Tennessee
Lebcon I, Ltd.		Tennessee
Lee Partners		Tennessee
Lexington Joint Venture		Ohio
LHM-Utah, LLC		Delaware
Madison Joint Venture		Ohio
Madison Plaza Associates, Ltd.		Alabama

6

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
Madison Square Associates, Ltd.		Alabama
Madison/East Towne, LLC		Delaware
Madison/West Towne, LLC		Delaware
Mall of South Carolina Limited Partnership		South Carolina
Mall of South Carolina Outparcel Limited Partnership		South Carolina
Mall Shopping Center Company, L.P.		Texas
Maryville Department Store Associates		Tennessee
Maryville Partners, L.P.		Tennessee
Massard Crossing Limited Partnership		Arkansas
MDN/Laredo GP II, LLC		Delaware
MDN/Laredo GP, LLC		Delaware
Meridian Mall Company, Inc.		Michigan
Meridian Mall Limited Partnership		Michigan
Midland Mall LLC		Delaware
Midland Venture Limited Partnership		Michigan
Milford Marketplace, LLC		Connecticut
Montgomery Partners, L.P.		Tennessee
Mortgage Holdings II, LLC		Delaware
Mortgage Holdings, LLC		Delaware
Mortgage Holdings/Eastgate, LLC		Delaware
NewLease Corp.		Tennessee
North Charleston Joint Venture		Ohio
North Charleston Joint Venture II, LLC		Delaware
North Dalton By-Pass, LLC		Georgia
Northpark Mall/Joplin, LLC		Delaware
Oak Park Mall, LLC		Delaware
Old Hickory Mall Venture		Tennessee
Old Hickory Mall Venture II, LLC		Delaware
Panama City Mall, LLC		Delaware
Panama City Peripheral, LLC		Florida
Parkdale Crossing GP, Inc.		Texas
Parkdale Crossing Limited Partnership		Texas
Parkdale Mall Associates		Texas
Parkway Place Limited Partnership		Alabama
Parkway Place, Inc.		Alabama
Pearland Hotel, LLC		Texas

7

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
Pearland Town Center GP, LLC		Delaware
Pearland Town Center Limited Partnership		Texas
Post Oak Mall Associates Limited Partnership		Texas
PPG Venture I, LP		Delaware
Property Taxperts, LLC		Nevada
Racine Joint Venture		Ohio
Racine Joint Venture II, LLC		Delaware
River Ridge Mall, LLC		Virginia
Rivergate Mall Limited Partnership		Delaware
Rivergate Mall, Inc.		Delaware
Sand Lake Corners Limited Partnership		Florida
Sand Lake Corners, LC		Florida
Seacoast Shopping Center Limited Partnership		New Hampshire
Settler’s Ridge, L.P.		Pennsylvania
Shoppes at Hamilton Place, LLC, The		Tennessee
Shoppes at St. Clair Square, LLC		Illinois
Shopping Center Finance Corp.		Wyoming
Shops at Pineda Ridge, LLC, The		Florida
Southaven Towne Center II, LLC		Delaware
Southaven Towne Center, LLC		Mississippi
Southpark Mall, LLC		Virginia
Springdale/Mobile GP II, Inc.		Alabama
Springdale/Mobile GP, Inc.		Alabama
Springdale/Mobile Limited Partnership II		Alabama
Springhill/Coastal Landing, LLC		Florida
St. Clair Square GP, Inc.		Illinois
St. Clair Square Limited Partnership		Illinois
Stoney Brook Landing LLC		Kentucky
Stroud Mall LLC		Pennsylvania
Sutton Plaza GP, Inc.		New Jersey
The Pavillion at Port Orange, LLC		Florida
Towne Mall Company		Ohio
Triangle Town Center, LLC		Delaware
Triangle Town Member, LLC		North Carolina
Turtle Creek Limited Partnership		Mississippi
Twin Peaks Mall Associates, Ltd.		Colorado
Valley View Mall, LLC		Virginia
Vicksburg Mall Associates, Ltd.		Mississippi
Village at Newnan Crossing LLC, The		Georgia

8

Subsidiaries of the Company As of December 31, 2006
Subsidiary	State of Incorporation or Formation
Village at Newnan Crossing, LLC, The		Georgia
Village at Orchard Hills, LLC		Michigan
Village at Rivergate Limited Partnership		Delaware
Village at Rivergate, Inc.		Delaware
Volusia Mall, LLC		Florida
Walnut Square Associates Limited Partnership		Wyoming
Waterford Commons of CT II, LLC		Delaware
Waterford Commons of CT III, LLC		Connecticut
Waterford Commons of CT, LLC		Delaware
Wausau Joint Venture		Ohio
Westgate Crossing Limited Partnership		South Carolina
Westgate Mall II, LLC		Delaware
Westgate Mall Limited Partnership		South Carolina
Wilkes-Barre Marketplace GP, LLC		Pennsylvania
Wilkes-Barre Marketplace I, LLC		Pennsylvania
Wilkes-Barre Marketplace, L.P.		Pennsylvania
Wilkes-Barre Member, LLC		Delaware
Willowbrook Plaza Limited Partnership		Maine
York Galleria Limited Partnership		Virginia
York Town Center Holding GP, LLC		Delaware
York Town Center Holding, LP		Pennsylvania
York Town Center, LP		Pennsylvania

9