-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Nu9pmL4ui5BFjdPmM4GUBP2GZlq9Wm8PPMhATfMuFUZOtkYv7aAXkpdzXxBBlPjO
 Uzc+A3qkXpYcSOGbGFOADw==

<SEC-DOCUMENT>0001005477-04-000159.txt : 20040109
<SEC-HEADER>0001005477-04-000159.hdr.sgml : 20040109
<ACCEPTANCE-DATETIME>20040109084040
ACCESSION NUMBER:		0001005477-04-000159
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040108
FILED AS OF DATE:		20040109

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TIFFANY CAROLYN
		CENTRAL INDEX KEY:			0001139253

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06249
		FILM NUMBER:		04516597

	BUSINESS ADDRESS:	
		STREET 1:		C/O WINTHROP FINANCIAL ASSOCIATES
		STREET 2:		5 CAMBRIDGE CENTER 9TH FLOOR
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
		BUSINESS PHONE:		6172343000

	MAIL ADDRESS:	
		STREET 1:		C/O WINTHROP FINANICAL ASSOCIATES
		STREET 2:		5 CAMBRIDGE CENTER 9TH FLOOR
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
</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>2004-01-08</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>0001139253</rptOwnerCik>
            <rptOwnerName>TIFFANY CAROLYN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O WINTHROP FINANCIAL ASSOCIATES</rptOwnerStreet1>
            <rptOwnerStreet2>7 BULFINCH PLACE, SUITE 500, PO BOX 9507</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02114</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>0</isDirector>
        <isOfficer>1</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
        <officerTitle>COO and Secretary</officerTitle>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>

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

            <sharesOwnedFollowingTransaction>
                <value>160000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>

            <natureOfOwnership>
                <value>See Note 1</value>
                <footnoteId id="F1"/>
            </natureOfOwnership>
        </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>
    <footnotes>
        <footnote id="F1">Represents my pro rata interest in shares held by a limited liability company in which I indirectly hold a 1.46% interest.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Carolyn Tiffany</signatureName>
        <signatureDate>2004-01-08</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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