8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported): June 22, 2000

                           American Realty Trust, Inc.
               (Exact name of registrant as specified in charter)


     Georgia                          1-9948                54-0697989
(State of other jurisdic-           (Commission             (IRS employer
tion of incorporation)              file number)            identification no.)


10670 North Central Expressway
Suite 300
Dallas, Texas                                                75231
(Address of principal executive offices)                    (Zip code)


       Registrant's telephone number, including area code: (214) 692-4700


          (Former name or former address, if changed since last report)


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ITEM 5. OTHER EVENTS


     On June 22, 2000, American Realty Trust, Inc. (the "Company") issued a
press release announcing that it had postponed the Company's reorganization and
combination with National Realty, L.P. (AMEX:NLP) that was expected to close on
or about June 30, 2000. The press release of the Company related thereto is
filed as Exhibit 99.1 to this Current Report on Form 8-K, and the contents of
such Exhibit are incorporated herein by reference. On June 23, 2000, the Company
issued a press release announcing that the Company had obtained the necessary
financing from its affiliate, Transcontinental Realty Investors, Inc.
(NYSE:TCI), to repay the $2.46 million debt relating to margin calls on its
shares of Income Opportunity Realty Investors, Inc. (AMEX:IOT). The press
release of the Company related thereto is filed as Exhibit 99.2 to this Current
Report on Form 8-K, and the contents of such Exhibit are incorporated herein by
reference.



ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS


(c) Exhibits.

    99.1   Press Release of the Company dated June 22, 2000
    99.2   Press Release of the Company dated June 23, 2000






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                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                        AMERICAN REALTY TRUST, INC.



                                        By:  /s/ Robert A. Waldman
                                           ------------------------------------
                                                 Robert A. Waldman
                                                 Secretary


June 26, 2000







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                                  Exhibit Index





Exhibit No.                Description
- -----------                -----------
                
    99.1           Press Release of the Company dated June 22, 2000
    99.2           Press Release of the Company dated June 23, 2000







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EX-99.1

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                                  EXHIBIT 99.1
                  Press Release of the Company - June 22, 2000












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AMERICAN REALTY TRUST POSTPONES REORGANIZATION WITH
NATIONAL REALTY L.P.

DALLAS, June 22, 2000 (PRIMEZONE) -- American Realty Trust, Inc. (NYSE:ARB)
announced today that in light of recent events, the company's reorganization and
combination with National Realty, L.P. (AMEX: NLP) has been postponed and is no
longer expected to close on or about June 30, 2000.

Dallas-based American Realty Trust, Inc. owns a diverse portfolio of properties
located across the United States, as well as interests in mortgage loans and
stock holdings in real estate related entities. For more information on the
company, go to the Investor Data page of its web site at www.amrealtytrust.com .

CONTACT:  Gregory Pettit or Karen Amrhine
          Shandwick International
          (646) 658-8000

EX-99.2

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                                  EXHIBIT 99.2
                  Press Release of the Company - June 23, 2000






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AMERICAN REALTY TRUST REPAYS ENTIRE $2.46 MILLION MARGIN DEBT
ON ITS INCOME OPPORTUNITY REALTY INVESTOR SHARES

DALLAS, June 23, 2000 (PRIMEZONE) -- American Realty Trust, Inc. (NYSE:ARB)
announced today that the company has obtained the necessary financing from its
affiliate, Transcontinental Realty Investors, Inc. (NYSE:TCI), to repay the
$2.46 million debt relating to the margin calls on its shares of Income
Opportunity Realty Investors, Inc. (AMEX:IOT). The margin debt was paid on June
22, 2000. ART owns 409,935 shares of IOT.

American Realty continues to negotiate with its margin debt lenders in regard to
the stock of its other affiliates, Transcontinental Realty Investors, Inc. and
National Realty, L.P. (AMEX:NLP).

Dallas-based American Realty Trust, Inc. owns a diverse portfolio of properties
located across the United States, as well as interests in mortgage loans and
stock holdings in real estate related entities. For more information on the
company, go to the Investor Data page of its web site at www.amrealtytrust.com.

CONTACT:  Karen Amrhine or Gregory Pettit
          Shandwick International
          (646) 658-8000