EXHIBIT 23.3     
                         
                      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 on Form S-4
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 (the "Partnership") 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 of Santa Anita Realty Enterprises, Inc. and Santa
Anita Operating Company and to the reference to our firm under the heading
"Experts" in the Joint Registration Statement. 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.
                                             
                                          /s/ KPMG Peat Marwick LLP     
   
San Diego, California     
   
September 23, 1997     

 
                         
                      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 on Form S-4
of Santa Anita Realty Enterprises, Inc. and Santa Anita Operating Company of
our report dated February 7, 1997, relating to the balance sheets of Anita
Associates as of December 31, 1996 and 1995, and the related statements of
income, partners' 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 of Santa Anita Realty Enterprises, Inc.
and Santa Anita Operating Company and to the reference to our firm under the
heading "Experts" in the Joint Registration Statement.     
                                             
                                          /s/ KPMG Peat Marwick LLP     
   
San Diego, California     
   
September 23, 1997