EXHIBIT 23.1

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

         As   independent   public   accountants,   we  hereby  consent  to  the
incorporation by reference in this  registration  statement File No. 33-57119 of
our reports dated  December 18, 1996 included in HRE  Properties'  Form 10-K for
the year ended  October 31, 1996 and to all  references  to our Firm included in
this Registration Statement.


                                                         /s/ Arthur Andersen LLP
                                                         -----------------------
                                                         Arthur Andersen LLP

New York, New York
March 12, 1997