<ARTICLE> 5
<CIK> 0000037008
<NAME> FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS
<MULTIPLIER> 1
<CURRENCY> DOLLARS

                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               SEP-30-1999
<EXCHANGE-RATE>                                      1
<CASH>                                      78,374,000
<SECURITIES>                                         0
<RECEIVABLES>                               10,942,000
<ALLOWANCES>                                         0
<INVENTORY>                                  3,438,000
<CURRENT-ASSETS>                            92,754,000
<PP&E>                                     525,913,000
<DEPRECIATION>                             (82,056,000)
<TOTAL-ASSETS>                             605,002,000
<CURRENT-LIABILITIES>                                0
<BONDS>                                    360,882,000
<COMMON>                                    42,477,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                 31,737,000
<OTHER-SE>                                 123,193,000
<TOTAL-LIABILITY-AND-EQUITY>               605,002,000
<SALES>                                              0
<TOTAL-REVENUES>                           227,790,000
<CGS>                                                0
<TOTAL-COSTS>                              163,933,000
<OTHER-EXPENSES>                            43,824,000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                          31,788,000
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (17,755,000)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 8,028,000
<EPS-BASIC>                                      .23
<EPS-DILUTED>                                      .23