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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,
1997, 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, 1996.


                                                /s/ BDO SEIDMAN, LLP
                                                BDO Seidman, LLP


Dallas, Texas
April 25, 1997