Exhibit 21.1

Subsidiaries of Gramercy Property Trust Inc.

ENTITY	JURISDICTION
GPT Property Trust LP	Delaware
GKK Management Co. LLC	Delaware
GPT GIG BOA Portfolio Owner LLC	Delaware
GPT European Fund Owner LLC	Delaware
GPT European Fund Manager Owner LLC	Delaware
GPT European Fund Carry Owner LLC	Delaware
GPT Gramercy Europe Limited Owner LLC	Delaware
Gramercy Investment Trust	Maryland
Gramercy Investment Trust II	Maryland