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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report May 11, 2000
First Union Real Estate Equity and Mortgage Investments
(Exact name of Registrant as Specified in Its Charter)
Ohio 1-6249 34-6513657
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)
551 Fifth Avenue, Suite 1416
New York, New York 10176-1499
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 905-1104
Former Name or Former Address, if Changed Since Last Report.
Suite 1900, 55 Public Square
Cleveland, Ohio 44113-1937
Total number of pages in report: 3
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ITEM 2. DISPOSITION OF ASSETS
On April 27, 2000, the Registrant issued a press release regarding the
sale of Crossroads Center to General Growth Properties, Inc. In addition the
press release discussed the financing of Park Plaza Mall.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
a. Financial Statements of Businesses Acquired
Not applicable
b. Pro Forma Financial Information
Pro Forma Combined Balance Sheet as of December 31, 1999.
Pro Forma Combined Statement of Operations for the twelve
months ended December 31, 1999.
The following pro forma combined balance sheet as of December
31, 1999 and the pro forma combined statement of operations
for the year ended December 31, 1999 give effect to properties
sold during 1999, the sale of the Registrant's Crossroads
Center Mall, the spin-off of Impark and the Canadian parking
facilities, and the financing of Park Plaza Mall. The spin-off
of Impark occurred in March 2000. The sale and financing
occurred in April 2000. The adjustments related to the pro
forma combined balance sheet assume the transactions were
consummated at December 31, 1999, while the adjustments to the
pro forma combined statement of operations assume the
transactions were consummated at January 1, 1999.
These pro forma adjustments are not necessarily reflective of
the results that actually would have occurred if the sale,
spin-off and financing had been in effect, as of, and for the
periods presented or what may be achieved in the future.
c. Exhibits
99.1 Pro Forma Combined Balance Sheet as of December 31,
1999.
99.2 Pro Forma Combined Statement of Operations for the
twelve months ended December 31, 1999.
99.3 Notes to Pro Forma Combined Financial Statements.
99.4 Press release dated April 27, 2000 regarding
refinancing of Park Plaza Mall and the sale of
Crossroads Center to General Growth Properties, Inc.
99.5 Promissory note dated April 20, 2000 between Park
Plaza Mall, LLC and First Union National Bank.
99.6 Mortgage and Security Agreement dated April 20, 2000
between Park Plaza Mall, LLC and First Union National
Bank.
99.7 Cash Management Agreement dated April 20, 2000 among
Park Plaza Mall, LLC, as borrower, Landau & Heymann
of Arkansas, Inc., as manager and First Union
National Bank, as holder.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First Union Real Estate Equity
and Mortgage Investments
(Registrant)
Date: May 11, 2000 By:/S/ Brenda J. Mixson
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Brenda J. Mixson
Chief Financial Officer