American Realty Investors, Inc. 10-K

EXHIBIT 21.1

AMERICAN REALTY INVESTORS, INC.

SUBSIDIARIES OF THE REGISTRANT

The following is a list of all subsidiaries of and partnership interests of American Realty Investors, Inc., the percentage of ownership and the state or other jurisdiction of organization or incorporation as of December 31, 2017. Partnership and limited liability company ownership includes ownership held through one or more subsidiaries.

Corporations
Name of Entity				Ownership	Jurisdiction
ART Edina, Inc.				100.0%	Nevada
EQK Holdings, Inc.				100.0%	Nevada
	ART Elm Fork Ranch, Inc.			100.0%	Nevada
	ART Florentina, Inc.			100.0%	Nevada
	ART GNB, Inc.			100.0%	Nevada
	ART Lake Chateau, Inc.			100.0%	Nevada
	EQK Port Olpenitz, Inc.			100.0%	Nevada
		Halona Partners AG		100.0%	Switzerland
			Euro Immo Invest GmbH	100.0%	Germany
		Port Olpenitz GMBH		90.0%	Germany
	EQK Portage, Inc.			100.0%	Nevada
Transcontinental Realty Acquisition Corporation (note 1)				100.0%	Nevada
	Transcontinental Realty Investors, Inc.			15.9%	Nevada
Transcontinental Realty Investors, Inc.				65.0%	Nevada
LLC interests (including direct and indirect ownership through subsidiaries)
Name of Entity				Ownership	Jurisdiction
ATI Mineral Holdings, LLC				35.76%	Nevada
	Trinity East Energy, LLC			8.76%	Texas
EQK Holdings, LLC				100.00%	Nevada
EQK Texas Plaza Land, LLC				100.00%	Nevada
Gruppa Florentina, LLC				20.00%	California
Valwood Acres, LLC				100.00%	Nevada
Partnership interests (including direct and indirect ownership through subsidiaries)
Name of Entity				Ownership	Jurisdiction
Cross County National Associates, LP				100.00%	Illinois
Edina Park Plaza Associates Limited Partnership				100.00%	Texas
Elm Fork Ranch Partners, LTD				100.00%	Texas
Garden Whispering Pines, LP				100.00%	Delaware

Note 1: Transcontinental Realty Investors, Inc., a Nevada corporation “TCI”, is also a subsidiary of the Registrant through the ownership of approximately 77.68% of the outstanding common stock of TCI by the Registrant and Transcontinental Realty Acquisition Corporation. A list of all subsidiaries and partnership interests of TCI is filed as an exhibit to TCI’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 (the “TCI Form 10-K”) which was filed with the Commission on March 30, 2018 which exhibit is incorporated by reference herein.

Note 2: Income Opportunity Realty Investors, Inc., a Nevada corporation “IOR”, is also an indirect subsidiary of the Registrant through the ownership of approximately 81.25% of the outstanding common stock of IOR by Transcontinental Realty Investors, Inc. (see note 1). A list of all subsidiaries and partnership interests of IOR is filed as an exhibit to IOR’s annual Report on Form 10-K for the fiscal year ended December 31, 2017 which was filed with the Commission on March 30, 2018, which exhibit is incorporated by reference herein.