EXHIBIT 21.1

Subsidiaries of the Company at February 9, 2009

Realty Income Texas Properties 1, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI GA 1, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI TN 1, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI TN 2, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI CS 1, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI CS 2, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI CS 3, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI CS 4, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI CS 5, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

RI SE, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

Realty Income Pennsylvania Properties Trust

A Maryland business trust

O CHK, INC.

A Delaware corporation

A wholly owned subsidiary of Realty Income Corporation

O ICE, LLC

A Delaware limited liability company

A wholly owned subsidiary of Realty Income Corporation

Crest Net Lease, Inc.

A Delaware corporation

A wholly owned subsidiary of Realty Income Corporation

CRESTNET 1, LLC

A Delaware limited liability company

A wholly owned subsidiary of Crest Net Lease, Inc.

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