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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES AND EXCHANGE ACT OF 1934
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Date of Report April 15, 1999
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First Union Real Estate Equity and Mortgage Investments
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(Exact name of registrant as specified in its charter)
Ohio 1-6249 34-6513657
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State or other jurisdiction (Commission File Number) (I.R.S. Employer
Identification No.)
Suite 1900, 55 Public Square
Cleveland, Ohio 44113-1937
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (216) 781-4030
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Former name or former address, if changed since last report.
Total number of pages in report 2.
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ITEM 5. OTHER EVENTS
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The registrant has entered into contracts to sell nine shopping
centers, one office building and eight apartment complexes. The registrant has
sold a shopping center in February 1999 and two office buildings in March 1999
and April 1999.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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a) Financial Statements
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Not applicable.
b) Proforma Financial Information
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The Proforma Combined Balance Sheet of the registrant
as of December 31, 1998, attached hereto as Exhibit 99.1, and
the Proforma Combined Statement of Operations for the year
ended December 31, 1998, attached hereto as Exhibit 99.2,
reflects proforma adjustments to the registrant's historical
financial statements assuming the sale of nine shopping
centers, eight apartment complexes and an office building
which are under contract to be sold and the completed sales
of two office buildings and a shopping center.
The Proforma Combined Statement of Operations for the
year ended December 31, 1998 is not necessarily indicative of
the actual results that would have occurred had the property
sales been consummated at the beginning of the respective
periods or of future operations of the registrant. The
Proformas do not take into consideration the increase in the
registrant's liquidity or possible uses of those funds.
These statements should be read in conjunction with
the Notes to Proforma Financial Statements.
c) Exhibits
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99.1) Proforma Combined Balance Sheet as of December 31, 1998
99.2) Proforma Combined Statement of Operations for the
Twelve Months ended December 31, 1998.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First Union Real Estate Equity
and Mortgage Investments
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(Registrant)
Date: April 15, 1999 By:/S/ Gregory C. Scott
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Gregory C. Scott
Controller