Exhibit 21.1

Subsidiaries of American Finance Trust, Inc.

Name	Jurisdiction of Formation/Incorporation
AFIN BB Loan, LLC	Delaware
AFIN Commercial Lending, LLC	Delaware
AFIN CS Loan, LLC	Delaware
AFIN High Yield Securities, LLC	Delaware
AFIN Subsidiary REIT, LLC	Delaware
AFIN UBS Loan, LLC	Delaware
American Finance Operating Partnership, L.P.	Delaware
55 Corporate Drive Condominium Association, LLC	Delaware
ARC AAANGIN001, LLC	Delaware
ARC AABNLFL001, LLC	Delaware
ARC AATNTMA001, LLC	Delaware
ARC AAWSNGA001, LLC	Delaware
ARC ABHNDMS001, LLC	Delaware
ARC AMWNRKY001, LLC	Delaware
ARC ARERIPA001, LLC	Delaware
ARC ARVIRMN001, LLC	Delaware
ARC ASCGRMO001, LLC	Delaware
ARC AZCROMI001, LLC	Delaware
ARC AZCTOLA001, LLC	Delaware
ARC AZTMPGA001, LLC	Delaware
ARC BFFTMFL001, LLC	Delaware
ARC BKMST41001, LLC	Delaware
ARC CBDTNPA001, LLC	Delaware
ARC CBLDLPA001, LLC	Delaware
ARC CBLMAPA001, LLC	Delaware
ARC CBPHLPA001, LLC	Delaware
ARC CBPHLPA002, LLC	Delaware
ARC CBPHLPA003, LLC	Delaware
ARC CBPLHPA004, LLC	Delaware
ARC CBRBRPA001, LLC	Delaware
ARC CBWNEPA001, LLC	Delaware
ARC CHLKJTX001, LLC	Delaware
ARC CHVCTTX001, LLC	Delaware
ARC CKMST19001, LLC	Delaware
ARC CVANSAL001, LLC	Delaware
ARC CVDETMI001, LLC	Delaware
ARC CVHYKMA001, LLC	Delaware
ARC DB5PROP001, LLC	Delaware
ARC DB5SAAB001, LLC	Delaware
ARC DGATHMI001, LLC	Delaware
ARC DGBGLLA001, LLC	Delaware
ARC DGBKHMS001, LLC	Delaware

ARC DGBNBGA001, LLC	Delaware
ARC DGCHEOK001, LLC	Delaware
ARC DGCMBMS001, LLC	Delaware
ARC DGDNDLA001, LLC	Delaware
ARC DGDVLLA001, LLC	Delaware
ARC DGFHLLA001, LLC	Delaware
ARC DGFLRMI001, LLC	Delaware
ARC DGFRTMS001, LLC	Delaware
ARC DGFTSAR001, LLC	Delaware
ARC DGGNWLA001, LLC	Delaware
ARC DGGSBVA001, LLC	Delaware
ARC DGGVLMS002, LLC	Delaware
ARC DGHBKLA001, LLC	Delaware
ARC DGHDNMI001, LLC	Delaware
ARC DGHTGWV001, LLC	Delaware
ARC DGHTSAR001, LLC	Delaware
ARC DGLAFTN001, LLC	Delaware
ARC DGLCRMN002, LLC	Delaware
ARC DGMBLAR001, LLC	Delaware
ARC DGMKNMI001, LLC	Delaware
ARC DGMRALA001, LLC	Delaware
ARC DGMSNTX002, LLC	Delaware
ARC DGNTALA001, LLC	Delaware
ARC DGRLFMS001, LLC	Delaware
ARC DGRSEMI001, LLC	Delaware
ARC DGRYLAR001, LLC	Delaware
ARC DGSRBMO001, LLC	Delaware
ARC DGSTNVA001, LLC	Delaware
ARC DGSVNMO001, LLC	Delaware
ARC DGTLSLA001, LLC	Delaware
ARC DGVDRTX001, LLC	Delaware
ARC DGVNLTN001, LLC	Delaware
ARC DGWPTMS001, LLC	Delaware
ARC DGWRNIN001, LLC	Delaware
ARC DGWSNNY001, LLC	Delaware
ARC FDBRNLA001, LLC	Delaware
ARC FDBTLKY001, LLC	Delaware
ARC FDCHLID001, LLC	Delaware
ARC FDCRLMO001, LLC	Delaware
ARC FDDNVAR001, LLC	Delaware
ARC FDDXRNM001, LLC	Delaware
ARC FDFNTPA001, LLC	Delaware
ARC FDHCRTX001, LLC	Delaware
ARC FDKRMCO001, LLC	Delaware
ARC FDOCYLA001, LLC	Delaware
ARC FDPLSTX001, LLC	Delaware

ARC FDWLDCO001, LLC	Delaware
ARC FEBSMND001, LLC	Delaware
ARC FECNBIA001, LLC	Delaware
ARC FEEGLWI001, LLC	Delaware
ARC FEGRFND001, LLC	Delaware
ARC FELELMS001, LLC	Delaware
ARC FESOUIA001, LLC	Delaware
ARC FEWAUWI001, LLC	Delaware
ARC FEWTNSD001, LLC	Delaware
ARC FLCLTNC001, LLC	Delaware
ARC FMMTCNJ001, LLC	Delaware
ARC FMMTVAL001, LLC	Delaware
ARC FMSNHPA001, LLC	Delaware
ARC HR5BEIL001, LLC	Delaware
ARC HR5BIAL001, LLC	Delaware
ARC HR5BPMN001, LLC	Delaware
ARC HR5CSAL001, LLC	Delaware
ARC HR5CSMA001, LLC	Delaware
ARC HR5CSMA002, LLC	Delaware
ARC HR5CSMA003, LLC	Delaware
ARC HR5CSMD001, LLC	Delaware
ARC HR5CURI001, LLC	Delaware
ARC HR5CVGA001, LLC	Delaware
ARC HR5DOGA001, LLC	Delaware
ARC HR5GAGA001, LLC	Delaware
ARC HR5GANC001, LLC	Delaware
ARC HR5GASC001, LLC	Delaware
ARC HR5GAVA001, LLC	Delaware
ARC HR5GBNC001, LLC	Delaware
ARC HR5GRSC001, LLC	Delaware
ARC HR5HASC001, LLC	Delaware
ARC HR5HOTX001, LP	Delaware
ARC HR5HOWI001, LLC	Delaware
ARC HR5HPNY001, LLC	Delaware
ARC HR5MCFL001, LLC	Delaware
ARC HR5MSSE001, LLC	Delaware
ARC HR5NCTN001, LLC	Delaware
ARC HR5PEGA001, LLC	Delaware
ARC HR5PISC001, LLC	Delaware
ARC HR5SINJ001, LLC	Delaware
ARC HR5SLUT001, LLC	Delaware
ARC HR5SNFI001 SPE, LLC	Delaware
ARC HR5SNFI001, LLC	Delaware
ARC HR5SOCT001, LLC	Delaware
ARC HR5SSMA001, LLC	Delaware
ARC HR5SSMA002, LLC	Delaware

ARC HR5SSMA003, LLC	Delaware
ARC HR5SSRI001, LLC	Delaware
ARC HR5STP1001, LLC	Delaware
ARC HR5STP1002, LLC	Delaware
ARC HR5STP2001, LLC	Delaware
ARC HR5STP2002, LLC	Delaware
ARC HR5STP3001, LLC	Delaware
ARC HR5STP3002, LLC	Delaware
ARC HR5VAGA001, LLC	Delaware
ARC HR5ZUMN001, LLC	Delaware
ARC JCHUSTX001, LLC	Delaware
ARC JCWSTCO001, LLC	Delaware
ARC LWAKNSC001, LLC	Delaware
ARC LWFYTNC001, LLC	Delaware
ARC LWMCNGA001, LLC	Delaware
ARC LWNBNNC001, LLC	Delaware
ARC LWRMTNC001, LLC	Delaware
ARC MFAKNSC001, LLC	Delaware
ARC MFFNCAL001, LLC	Delaware
ARC MFHLDMI001, LLC	Delaware
ARC MFKXVTN002, LLC	Delaware
ARC MFMCDGA001, LLC	Delaware
ARC MFMDNID001, LLC	Delaware
ARC MFSGWMI001, LLC	Delaware
ARC MFTSEFL002, LLC	Delaware
ARC MFVALGA001, LLC	Delaware
ARC NTMNDIL001, LLC	Delaware
ARC NTSNTTX001, LLC	Delaware
ARC ORMNTWI001, LLC	Delaware
ARC TKLWSFL001, LLC	Delaware
ARC TPEGPTX001, LLC	Delaware
ARC TSHRLKY001, LLC	Delaware
ARC TSHTNMI001, LLC	Delaware
ARC TSVRNCT001, LLC	Delaware
ARC WGBEATX001, LLC	Delaware
ARC WGBTDIAOO1, LLC	Delaware
ARC WGGLTWY001, LLC	Delaware
ARC WGLNSMI001, LLC	Delaware
ARC WGOKCOK001, LLC	Delaware
ARC WGPNBAR001, LLC	Delaware
ARC WGTKRGA001, LLC	Delaware
ARC WGWFDMI001, LLC	Delaware
Genie Acquisition, LLC	Delaware