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                                                                  EXHIBIT 23.2


              Consent of Independent Certified Public Accountants


American Realty Trust, Inc.
  Dallas, Texas


We hereby consent to the incorporation by reference in the Prospectus
constituting a part of this Registration Statement of our report dated March
21, 1996, relating to the consolidated financial statements and schedules of
Continental Mortgage and Equity Trust appearing in the Trust's Annual Report on
Form 10-K for the year ended December 31, 1995.

                                /s/ BDO SEIDMAN, LLP
 
                                BDO Seidman, LLP

Dallas, Texas
February 11, 1997