EXHIBIT 99.1

                            CERTIFICATION PURSUANT TO

                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

         In connection with the Annual Report of First Union Real Estate Equity
and Mortgage Investments (the "Company") on Form 10-K for the annual period
ended December 31, 2002, as filed with the Securities and Exchange Commission on
the date hereof (the "Report"), the undersigned, in the capacities and on the
date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) the
Report fully complies with the requirements of Section 13(a) or 15(d) of the
Securities and Exchange Act of 1934; and (2) the information contained in the
Report fairly presents, in all material respects, the financial condition and
results of operations of the Company.

Date: March 31, 2003                           /s/ Neil H. Koenig
                                               ---------------------------
                                               Neil H. Koenig
                                               Principal Executive Officer

Date: March 31, 2003                           /s/ Neil H. Koenig
                                               ---------------------------
                                               Neil H. Koenig
                                               Interim Chief Financial Officer