Exhibit 21.1

Bluerock Residential Growth REIT, Inc.

List of Subsidiaries

1. Bluerock Residential Holdings, L.P., a Delaware limited partnership

2. Bluerock REIT Holdings, LLC, a Delaware limited liability company

3. BEMT Springhouse, LLC, a Delaware limited liability company

4. BR Springhouse Managing Member, LLC, a Delaware limited liability company

5. BR Hawthorne Springhouse JV, LLC, a Delaware limited liability company

6. BR Springhouse, LLC, a Delaware limited liability company

7. BEMT Augusta, LLC, a Delaware limited liability company

8. BR Augusta JV Member, LLC, a Delaware limited liability company

9. BSF/BR Augusta JV, LLC, a Delaware limited liability company

10. BSF/BR Augusta, LLC, a Florida limited liability company

11. BEMT Enders, LLC, a Delaware limited liability company

12. BR Enders Managing Member, LLC, a Delaware limited liability company

13. Waypoint Bluerock Enders JV, LLC, a Delaware limited liability company

14. Waypoint Enders Owner, LLC, a Delaware limited liability company

15. BEMT Berry Hill, LLC, a Delaware limited liability company

16. BR Berry Hill Managing Member, LLC, a Delaware limited liability company

17. BR Stonehenge 23Hundred JV, LLC, a Delaware limited liability company

18. 23Hundred, LLC, a Delaware limited liability company

19. BRG North Park Towers, LLC, a Delaware limited liability company

20. BR VG Ann Arbor JV Member, LLC, a Delaware limited liability company

21. BRG Ann Arbor, LLC, a Delaware limited liability company

22. Village Green of Ann Arbor Associates, LLC, a Michigan limited liability company

23. BR Oak Crest Villas, LLC, a Delaware limited liability company

24. BRG Oak Crest, LLC, a Delaware limited liability company

25. Oak Crest Villas JV, LLC, a Delaware limited liability company

26. Villas Partners, LLC, a Delaware limited liability company

27. BR Waterford JV Member, LLC, a Delaware limited liability company

28. BRG Waterford, LLC, a Delaware limited liability company

29. Bell BR Waterford Crossing JV, LLC, a Delaware limited liability company

30. BR VG MDA JV Member, LLC, a Delaware limited liability company

31. BEMT MDA, LLC, a Delaware limited liability company

32. MDA City Apartments, LLC, a Delaware limited liability company

33. BR T&C BLVD JV Member, LLC, a Delaware limited liability company

34. BRG T&C BLVD Houston, LLC, a Delaware limited liability company

35. BR T&C BLVD., LLC, a Delaware limited liability company

36. BR Lansbrook JV Member, LLC, a Delaware limited liability company

37. BRG Lansbrook, LLC, a Delaware limited liability company

38. BR Carroll Lansbrook JV, LLC, a Delaware limited liability company

39. BR Carroll Lansbrook, LLC, a Delaware limited liability company

40. BR Orlando UCFP, LLC, a Delaware limited liability company

41. BRG UCFP Investor, LLC, a Delaware limited liability company

42. BR/CDP UCFP Venture, LLC, a Delaware limited liability company

43. UCFP Owner, LLC, a Delaware limited liability company

44. BRG Grande Lakes, LLC, a Delaware limited liability company

45. BR Carroll Grande Lakes JV, LLC, a Delaware limited liability company

46. BR Carroll Arium Grande Lakes Owner, LLC, a Delaware limited liability company

In addition, ten subsidiaries operating in the United States have been omitted as they would not, considered in the aggregate as a single subsidiary, constitute a significant subsidiary as defined by Rule 1-02(w) of Regulation S-X.