SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) October 6, 2005
FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS
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(Exact Name of Registrant as Specified in Its Charter)
Ohio
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(State or Other Jurisdiction of Incorporation)
001-06249 34-6513657
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(Commission File Number) (I.R.S. Employer Identification No.)
7 Bulfinch Place, Suite 500, P.O. Box 9507, Boston, Massachusetts 02114
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(Address of Principal Executive Offices) (Zip Code)
(617) 570-4600
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(Registrant's Telephone Number, Including Area Code)
n/a
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFT|R 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 7.01 Regulation FD Disclosure
On October 6, 2005, First Union Real Estate Equity and Mortgage
Investments ("First Union") announced that it had received the $11 million
settlement payment from the State of California relating to the loss incurred by
First Union from a flood at the Peachtree Mall property in 1986. A copy of this
release is attached hereto as exhibit 99.1.
On October 7, 2005, First Union announced that it had acquired over a
number of months through open market transactions an aggregate of 553,801 shares
of common stock in America First Apartment Investors, Inc. (NASD:APRO), a real
estate investment trust. The 553,801 shares represent approximately 5.27% of the
outstanding common shares in America First Apartment Investors. In light of
First Union's investment objectives, First Union intends to consider appropriate
methods of maximizing the value of the shares and shareholder value in general
including, without limitation, potential strategic transactions with America
First Apartment Investors. A copy of this release is attached hereto as exhibit
99.2.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release, dated October 6, 2005 relating to the Peachtree Mall
settlement payment.
99.2 Press Release, dated October 7, 2005 relating to the acquisition of
shares in America First Apartment Investors, Inc.
SIGNATURES
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 on this 7th day of October, 2005.
FIRST UNION REAL ESTATE EQUITY AND
MORTGAGE INVESTMENTS
By: /s/ Peter Braverman
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Peter Braverman
President