Subsidiary

Jurisdiction of Formation

ACREFI Operating, LLC

Delaware

ACREFI Holdings DB Member, LLC

Delaware

ACREFI Holdings DB, LLC

Delaware

ACREFI Holdings DB-Series I

Delaware

ACREFI Holdings DB-Series II

Delaware

ACREFI Holdings DB-Series III

Delaware

ACREFI Holdings DB-Series IV

Delaware

ACREFI Holdings DB-Series V

Delaware

ACREFI Holdings DB-Series VI

Delaware

ACREFI Holdings DB-Series VII

Delaware

ACREFI Holdings DB-Series VIII

Delaware

ACREFI Holdings DB-Series IX

Delaware

ACREFI Holdings DB-Series X

Delaware

ACREFI Holdings DB-Series XI

Delaware

ACREFI Holdings DB-Series XII

Delaware

ACREFI Holdings DB-Series XIII

Delaware

ACREFI Holdings DB-Series XIV

Delaware

ACREFI Holdings DB-Series XV

Delaware

ACREFI Holdings DB-Series XVI

Delaware

ACREFI Holdings DB-Series XVII

Delaware

ACREFI Holdings DB-Series XVIII

Delaware

ACREFI Holdings DB-Series XIX

Delaware

ACREFI Holdings DB-Series XX

Delaware

ACREFI Currency, LLC

Delaware

ACREFI Lender, LLC

Delaware

ACREFI I TRS, Inc.

Delaware

ACREFI II TRS, Ltd.

Cayman Islands

ACREFI III TRS, Inc.

Delaware

ACREFI Mezzanine, LLC

Delaware

ACREFI Holdings J-II, LLC

Delaware

ACREFI Mortgage Lending, LLC

Delaware

ACREFI Insurance Services, LLC

Michigan

PEM Kent Holdings, LLC

Delaware

ACREFI Holdings U-1, LLC

Delaware

ACREFI Holdings J-I, LLC

Delaware

Holdings J-1 JV, LLC

Delaware

Operating J-1 JV, LLC

Delaware

ACREFI Holdings J-I JV Member, LLC

Delaware

ACREFI Holdings J-I JV Managing Member, LLC

Delaware

ACREFI M JV, LLC

Delaware

ACREFI W-1, LLC

Delaware

ACREFI W-2, LLC

Delaware

ACREFI Cash Management, LLC

Delaware

ARM Operating, LLC

Delaware

ARM TRS, LLC

Delaware

ARWL 2013-1 Trust

Delaware

ARWL 2013-1 REO Trust

Delaware

ARWL 2014-1 Trust

Delaware

Apollo Residential Mortgage Loans, LLC

Delaware

Apollo Residential Mortgage Securities, LLC

Delaware

ACREFI GS Member, LLC

Delaware

ACREFI GS, LLC

Delaware

ACREFI CS Member, LLC

Delaware

ACREFI CS, LLC

Delaware

ACREFI CS U Member, LLC

Delaware

ACREFI CS U, LLC

Delaware

ACREFI HS Member, LLC

Delaware

ACREFI HS, LLC

Delaware

ACREFI Europe Lending, LLC

Delaware

ACREFI B, LLC

Delaware

ACRE Debt 2 PLC

United Kingdom

ACREFI B-II, LLC

Delaware

ACREFI BN, LLC

Delaware

ACREFI GS UK Member, LLC

Delaware

ACREFI GS UK, LLC

Delaware

ACREFI BA, LLC

Delaware

ACREFI MF, LLC

Delaware

WSRH Washington, LLC

Delaware

ACREFI FS, LLC

Delaware

ACREFI Holdings DB – Series XXI

Delaware

ACREFI Holdings DB – Series XXII

Delaware

ACREFI HIS, LLC

Delaware

ACREFI MU, LLC

Delaware

ACREFI MU II, LLC

Delaware

ACREFI MU Member, LLC

Delaware

Apollo Commercial Lending (Italy) - ARI Sub Fund

Italy

ACREFI HS II, LLC

Delaware

ACREFI SAN Holding, LLC

Delaware

ACREFI SAN, LLC

Delaware

ACREFI CHRC Holding, LLC

Delaware

ACREFI CHRC, LLC

Delaware

ACREFI RCF Member, LLC

Delaware

ACREFI RCF I, LLC

Delaware

ACREFI ATL, LLC

Delaware

ACREFI ATL LESSEE, LLC

Delaware

Rockwood Mayflower, Inc

Delaware

ACREFI ASP, LLC

Delaware

ACREFI ASP HOLDINGS, LLC

Delaware

ACREFI STWD JV, LLC

Delaware

ACREFI BKLN, LLC

Delaware

Brook NY JV, LLC

Delaware

Brook NY Holdings, LLC

Delaware

Brook NY Residential, LLC

Delaware