1



                                                                     Exhibit 24


             FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS

                           ANNUAL REPORT ON FORM 10-K
                      FOR THE YEAR ENDED DECEMBER 31, 2000

                          Power of Attorney - Trustees

         Each of the undersigned, a Trustee of First Union Real Estate Equity
and Mortgage Investments, an Ohio business trust (the "Trust"), which
anticipates filing with the Securities and Exchange Commission, Washington,
D.C., under the provisions of the Securities Exchange Act of 1934, an Annual
Report on Form 10-K for the fiscal year ended December 31, 2000 (the "Form
10-K"), does hereby constitute and appoint Neil H. Koenig, with full power of
substitution and resubstitution, as attorney to sign for him and in his name the
Form 10-K and any and all amendments and exhibits thereto, and any and all other
documents to be filed with the Securities and Exchange Commission pertaining to
the Form 10-K, with full power and authority to do and perform any and all acts
and things whatsoever required or necessary to be done in the premises, as fully
to all intents and purposes as he could do if personally present, hereby
ratifying and approving the acts of said attorney and any such substitute.

         IN WITNESS WHEREOF, each of the undersigned has hereunto set his hand
this 28 day of March, 2001.



/s/ William A. Ackman
--------------------------
William A. Ackman

/s/ Daniel J. Altobello
--------------------------
Daniel J. Altobello

/s/ Bruce R. Berkowitz
--------------------------
Bruce R. Berkowitz

/s/ Jeffrey B. Citrin
--------------------------
Jeffrey B. Citrin

/s/ Talton R. Embry
--------------------------
Talton R. Embry

/s/ William A. Scully
--------------------------
William A. Scully

/s/ Stephen S. Snider
--------------------------
Stephen S. Snider