Exhibit 21

SUBSIDIARIES OF SAUL CENTERS, INC.

1500 Rockville Pike LLC

11503 Rockville Pike LLC

7316 Wisconsin LLC

750 North Glebe LLC

Ashburn Village Center LLC

Avenel Business Park LLC

Avenel VI, Inc.

Beacon Center LLC

Briggs Chaney Plaza, LLC

Broadlands Village LLC

Burtonsville Center LLC

Clarendon Center LLC

Cranberry Square LLC

Cranberry Square Subsidiary LLC

Kentlands 311 LLC

Kentlands Lot 1, LLC

Kentlands Square LLC

Kentlands Square Subsidiary LLC

Leesburg Pike Center LLC

Metro Pike Center LLC

Northrock Center LLC

Olde Forte Village LLC

Ravenwood Shopping Center LLC

Rockville Pike Holdings LLC

Saul Holdings Limited Partnership

Saul Monocacy, LLC

Saul Subsidiary I Limited Partnership

Saul Subsidiary II Limited Partnership

Seabreeze Plaza LLC

Seven Corners Center LLC

Severna Park MarketPlace LLC

Severna Park MarketPlace Subsidiary LLC

Shops at Fairfax LLC

Smallwood Village Center LLC

The Glen Center LLC

Thruway Shopping Center LLC

Washington Square Center

Westview Village Center LLC

White Oak Subsidiary LLC