Exhibit 99.2

COMPANY PRESS RELEASE

EQK REALTY INVESTORS I FILES FOR REORGANIZATION

ATLANTA--(BUSINESS WIRE)--Dec. 15, 1999--EQK Realty Investors I (OTC BB: EQKR -
news) today announced that the Company has filed a voluntary petition for
reorganization with the United States Bankruptcy Court for the Middle District
of Pennsylvania under Chapter 11 of title 11 of the United States Code. The
petition is intended to enable the Company to conduct business under protection
of the Bankruptcy Court while it develops a plan to continue to operate or
dispose of its last remaining real estate asset, the Harrisburg East Mall in
Harrisburg, Pennsylvania. The Company also intends to seek to complete a merger
transaction with American Realty Trust, although it is contemplated that the
terms of the current merger agreement may be modified and there is no assurance
that such a transaction can be completed.

The filing was the result of the expiration on December 15, 1999 of forbearance
and extension agreements with the Company's mortgage lenders and of the
Company's inability to obtain further extensions on satisfactory terms. In order
to preserve its claims as a creditor, Lend Lease Portfolio Management, Inc.
resigned as advisor to the Company and its personnel resigned as trustee and
officers of the Company. Gregory Greenfield & Associates, Ltd. was engaged as
successor advisor, subject to bankruptcy court approval, and its personnel were
elected as officers of the Company, including Gregory R. Greenfield as President
and Chief Executive Officer and William G. Brown, Jr. as Vice President and
Chief Financial Officer.

All statements, other than statements of historical facts, included in this news
release are forward-looking statements. These forward-looking statements are
based on the Company's current expectations. Although the Company believes that
the expectations reflected in such forward-looking statements are reasonable,
there can be no assurance that such expectations will prove to be correct.
Because forward-looking statements involve risks and uncertainties, the
Company's actual results could differ materially. For a discussion regarding
these and other factors which could affect the Company's financial performance,
refer to the Company's Securities and Exchange Commission filings, in particular
the information under the headings "Business" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations. The Company disclaims
any intent or obligation to update its forward-looking statements.

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CONTACT:

William G. Brown, Jr.
Chief Financial Officer
770/225-3470