Exhibit 21.1

SUBSIDIARIES OF FORTRESS CREDIT REALTY INCOME TRUST

Entity Name

Jurisdiction of Formation

FCR Advisors LLC

Delaware LLC

IMFIG LLC

Delaware LLC

FCR MSR ESP Investors LLC

Delaware LLC

FCR MSR Investors LLC

Delaware LLC

FCR CRE Holdco LLC

Delaware LLC

FCR TL Investors LLC

Delaware LLC

FCR GS Seller I LLC

Delaware LLC

FCR Key JV LLC

Delaware LLC

FCR DC JV LLC

Delaware LLC

FCR Key GS Seller II LLC

Delaware LLC

FCR DC JV Holdings LLC

Delaware LLC

Marlin JV IX Excess Spread Holder, LLC

Delaware LLC

Marlin JV IX, LLC

Delaware LLC

FCR TL Holdings LLC

Delaware LLC

FCR TL Trust

Delaware Statutory Trust

FCR CRE GS Pledgor LLC

Delaware LLC

FCR DC JV Atlas Pledgor LLC

Delaware LLC

FCR DC JV Atlas Seller LLC

Delaware LLC

FCR DC JV GS Pledgor LLC

Delaware LLC

FCR DC GS Seller III LLC

Delaware LLC

FCR CBFF Holdings LLC

Delaware LLC

FCR Securities LLC

Delaware LLC

FCR CRE GS Holdco LLC

Delaware LLC


 

FCR Key JV Holdings LLC

Delaware LLC

FCR Key JV GS Pledgor LLC

Delaware LLC

DB HTS Holdings LLC

Delaware LLC

FCR TRS Holdings LLC

Delaware LLC

FCR CRE MS Holdco LLC

Delaware LLC

FCR NS Holdings LLC

Delaware LLC

FCR CRE MS Pledgor LLC

Delaware LLC

FCR CRE MS Seller LLC

Delaware LLC

FCR NS Pledgor LLC

Delaware LLC

FCR NS Seller I LLC

Delaware LLC

FCR TL REO TRS LLC

Delaware LLC

Dwight FCR-2025 LLC

Delaware LLC

Affiliated Tax Capital LLC

Delaware LLC

Garnet Rock LLC

Delaware LLC

Green Tax Funding VI LLC

Delaware LLC

Green Tax Funding XII LLC

Delaware LLC

Pleasant Valley Capital LLC

Delaware LLC

Travis Farm Investments LLC

Delaware LLC

Ascot Capital

Delaware LLC

Gold Coast Tax Capital LLC

Delaware LLC

Green Tax Funding VII LLC

Delaware LLC

Green Tax Funding XIII LLC

Delaware LLC

Redfield Funding LLC

Delaware LLC

Tudor Tax Lien LLC

Delaware LLC

Bridge Tax Capital LLC

Delaware LLC

Green Tax Funding I LLC

Delaware LLC


 

Green Tax Funding VIII LLC

Delaware LLC

Green Tax Funding XIV LLC

Delaware LLC

Slingshot Funding LLC

Delaware LLC

WGS Tax Investment Funding LLC

Delaware LLC

Catalina Tax Co. LLC

Delaware LLC

Green Tax Funding II LLC

Delaware LLC

Green Tax Funding X LLC

Delaware LLC

Green Tax Funding XV LLC

Delaware LLC

Sunshine State Tax LLC

Delaware LLC

Lathrop Management Funding LLC

Delaware LLC

Citrus Capital LLC

Delaware LLC

Green Tax Funding III LLC

Delaware LLC

Green Tax Funding XI LLC

Delaware LLC

Keys Tax Funding LLC

Delaware LLC

Swamp Road Lien Co. LLC

Delaware LLC

Liege Tax Liens LLC

Delaware LLC

Evermore Funding LLC

Delaware LLC

Lake Tax Purchase Group LLC

Delaware LLC

Tower Florida LLC

Delaware LLC

Lakeview Tax Management LLC

Delaware LLC

Garber Tax Management LLC

Delaware LLC

Green Tax Funding V LLC

Delaware LLC

Manalapan Beach Tax Group LLC

Delaware LLC

Green Tax Funding IX LLC

Delaware LLC

Green Tax Funding IV LLC

Delaware LLC