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FIRST UNION REAL ESTATE ANNOUNCES MANAGEMENT CHANGES

 CLEVELAND, Dec. 1 /PRNewswire/ -- First Union Real Estate Investments (NYSE: FUR) today announced that Donald S. Schofield, in accordance with his previously indicated plans to retire, has resigned as chairman and chief executive officer of the trust, effective Dec. 31, 1993. The board of trustees voted to name James C. Mastandrea, now president and chief operating officer of the trust, as its chairman, president, and chief executive officer, effective Jan. 1, 1994.
 The board of trustees also voted to elect Thomas T. Kmiecik, treasurer of the trust, to the position of vice president - treasurer, effective Jan. 1, 1994.
 First Union Real Estate Investments is a self administered equity real estate investment trust specializing in acquiring and holding real estate for current yield and long term appreciation. Its portfolio is made up of 33 properties in 17 states, consisting of shopping malls, office buildings and apartment complexes.
 -0- 12/1/93 R
 /CONTACT: Thomas T. Kmiecik of First Union Real Estate Investments, 216-781-4030/
 (FUR)


CO: First Union Real Estate Investments ST: Ohio IN: FIN SU: PER

KL-AR -- CL021 -- 1838 12/08/93 14:20 EST
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Publication:PR Newswire
Date:Dec 8, 1993
Words:184
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