Exhibit 23.3


[LOGO OF KPMG PEAT MARWICK LLP APPEARS HERE]


                        CONSENT OF INDEPENDENT AUDITORS


The Board of Directors 
Santa Anita Realty Enterprise, Inc.

and

Santa Anita Operating Company:

    
We consent to incorporation by reference in the Joint Registration Statement 
(No. 2-95228) on Form S-8, as amended through Post-Effective Amendment No. 3, 
the Joint Registration Statement on Form S-8 (No. 33-51843), and the Joint 
Registration Statement on Form S-8 (No. 33-58995) of Santa Anita Realty 
Enterprises, Inc. and Santa Anita Operating Company of our report dated February
10, 1997, relating to the consolidated balance sheets of H-T Associates and 
subsidiary as of December 31, 1996 and 1995, and the related consolidated 
statements of operations, partners' capital (deficit) and cash flows for each of
the years in the three-year period ended December 31, 1996, which report appears
in the December 31, 1996 Joint Annual Report on Form 10-K/A-2 of Santa Anita
Realty Enterprises, Inc. and Santa Anita Operating Company. Our report dated
February 10, 1997, contains an explanatory paragraph that states that the
Partnership's primary subsidiary is in technical default on its notes payable at
December 31, 1996. As such, those notes may be callable at the lender's
discretion. This technical default raises substantial doubt about the
Partnership's ability to continue as a going concern. The consolidated financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.     



                                                         KPMG Peat Marwick LLP


San Diego, California
    
August 12, 1997