Exhibit 21.1 ============ Subsidiaries of the Company as of January 1, 1997 ------------------------------------------------- Realty Income Texas Properties, L.P., a Delaware limited partnership Realty Income Texas Properties, Inc., a Delaware...

                          Exhibit 21.1
                          ============



Subsidiaries of the Company as of January 1, 1997
-------------------------------------------------

Realty Income Texas Properties, L.P., a Delaware limited
  partnership
Realty Income Texas Properties, Inc., a Delaware corporation




































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