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Home > Company Index > Real Estate > REIT - Diversified & Misc. > First Union Real Estate Equity and Mortgage Investments

First Union Real Estate Equity and Mortgage Investments
NYSE: FUR
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 PROFILE
First Union Real Estate Equity and Mortgage Investments is a real estate investment trust (REIT) with a very long name, but a very short portfolio. The firm has been selling off its scattered holdings of retail malls, office buildings, and parking facilities and is now down to its last office building (in Indianapolis) and shopping mall (in Little Rock, Arkansas). The firm also owns Ventek International, a California-based manufacturer of ticket vending machines for parking lots and garages. First Union sold most of its remaining assets to a partnership of its management, but minority shareholders are challenging the deal in court. The troubled REIT hired U.S. Bancorp to explore its options.

 COMPETITION
Acadia Realty Trust (AKR)
Kimco Realty Corporation (KIM)
Simon Property Group, Inc. (SPG)

 STOCK ANALYSIS
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FURTHER ANALYSIS
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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 143.40
1-Yr. Sales Growth: (3.8)%
Employees: 1
Revenue per employee: $143,400,000.00

 KEY PEOPLE
• Daniel P. Friedman
    CEO
• Neil H. Koening
    CFO

 CONTACT INFO
125 Park Ave.
New York, NY 10007
US
Phone: 212-949-1373
Fax: 212-867-8723

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