Exhibit 24



             FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS

                           ANNUAL REPORT ON FORM 10-K
                      FOR THE YEAR ENDED DECEMBER 31, 2003

                          Power of Attorney - Trustees

          Each of the undersigned, a Trustee of First Union Real Estate Equity
and Mortgage Investments, an Ohio business trust (the "Trust"), which
anticipates filing with the Securities and Exchange Commission, Washington,
D.C., under the provisions of the Securities Exchange Act of 1934, an Annual
Report on Form 10-K for the fiscal year ended December 31, 2003 (the "Form
10-K"), does hereby constitute and appoint Michael L. Ashner, with full power of
substitution and resubstitution, as attorney to sign for him and in his name the
Form 10-K and any and all amendments and exhibits thereto, and any and all other
documents to be filed with the Securities and Exchange Commission pertaining to
the Form 10-K, with full power and authority to do and perform any and all acts
and things whatsoever required or necessary to be done in the premises, as fully
to all intents and purposes as he could do if personally present, hereby
ratifying and approving the acts of said attorney and any such substitute.


         IN WITNESS WHEREOF, each of the undersigned has hereunto set his hand
this 5th day of March, 2004.

/s/ Bruce R. Berkowitz
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Bruce R. Berkowitz

/s/ Arthur Blasberg, Jr.
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Arthur Blasberg, Jr.

/s/ Talton R. Embry
- ------------------------
Talton R. Embry

/s/ Howard Goldberg.
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Howard Goldberg

/s/ Neil H. Koenig
- ------------------------
Neil H. Koenig

/s/ Arthur N. Queler
- ------------------------
Arthur N. Queler


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