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Exhibit 21

SUBSIDIARIES OF THE REGISTRANT

The only subsidiary of Roberts Realty Investors, Inc. is Roberts Properties Residential, L.P., a Georgia limited partnership (the "operating partnership") of which Roberts Realty is the sole general partner and in which Roberts Realty owns an 82.74% ownership interest as of February 22, 2012. The operating partnership owns 100% of the following Delaware and Georgia limited liability companies:

Roberts Bassett LLC (Delaware)
Roberts Grand Pavilion LLC (Delaware)
Roberts Spectrum LLC (Delaware)
Northridge Parkway, LLC (Georgia)

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Exhibit 21

SUBSIDIARIES OF THE REGISTRANT