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                                                             EXHIBIT 23.4



             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
20, 1996, relating to the consolidated financial statements and schedules of
Transcontinental Realty Investors, Inc. appearing in the Company's Annual
Report on Form 10-K for the year ended December 31, 1995.


                                        /s/ BDO SEIDMAN, L.L.P.

                                        BDO Seidman, LLP




Dallas, Texas
February 11, 1997