-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OLHU3TvAj7JauFot4xtN4lLQIIF3lnpHWaUp/g78GNiGGznd0LGc5ZvCQf5nJ0Wv
 P33mHRxHFK1IX97LydoaTg==

<SEC-DOCUMENT>0001005477-04-000156.txt : 20040109
<SEC-HEADER>0001005477-04-000156.hdr.sgml : 20040109
<ACCEPTANCE-DATETIME>20040109083611
ACCESSION NUMBER:		0001005477-04-000156
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BLASBERG ARTHUR JR
		CENTRAL INDEX KEY:			0001275391

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06249
		FILM NUMBER:		04516592

	BUSINESS ADDRESS:	
		STREET 1:		C/O SULLIVAN & WORCESTER LLP
		STREET 2:		ONE POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			021098
		BUSINESS PHONE:		6172106988

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST UNION REAL ESTATE EQUITY & MORTGAGE INVESTMENTS
		CENTRAL INDEX KEY:			0000037008
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				346513657
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		125 PARK AVENUE
		STREET 2:		N/A
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2129051104

	MAIL ADDRESS:	
		STREET 1:		125 PARK AVENUE
		STREET 2:		N/A
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST UNION REALTY
		DATE OF NAME CHANGE:	19691012
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>
    <periodOfReport>2003-12-31</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000037008</issuerCik>
        <issuerName>FIRST UNION REAL ESTATE EQUITY &amp; MORTGAGE INVESTMENTS</issuerName>
        <issuerTradingSymbol>FUR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0001275391</rptOwnerCik>
            <rptOwnerName>BLASBERG ARTHUR JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SULLIVAN &amp; WORCESTER LLP</rptOwnerStreet1>
            <rptOwnerStreet2>ONE POST OFFICE SQUARE</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02109</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>

        <securityTitle>
            <value>Shares of Beneficial Interest, par value $1.00 per share</value>
        </securityTitle>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>0</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>
    <ownerSignature>
        <signatureName>/s/ Arthur Blasberg, Jr.</signatureName>
        <signatureDate>2004-01-08</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----