<ARTICLE> 5
<CIK> 0000037008
<NAME> FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                      24,380,000
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<SALES>                                              0
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<INCOME-CONTINUING>                       (20,939,000)
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<EPS-PRIMARY>                                    (.46)
<EPS-DILUTED>                                    (.46)