EX-99.1
14
e501129_ex99-1.txt
VORNAOD SALE ISSUANCE PRESS RELEASE
FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS
AT THE COMPANY
Carolyn Tiffany
Chief Operating Officer
(617) 570-4614
FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS
ANNOUNCES IT SALE OF 3,522,566 COMMON SHARES TO VORNADO REALTY
TRUST
FOR IMMEDIATE RELEASE - Boston, Massachusetts- November 7, 2005-First
Union Real Estate Equity and Mortgage Investments (NYSE:FUR) announced today
that it consummated the sale of its common shares of beneficial interest to a
subsidiary of Vornado Realty Trust which was agreed to on August 5, 2005.
Pursuant to a Securities Purchase Agreement dated as of November 7, 2005,
Vornado acquired 3,522,566 shares, representing 9.9% of the outstanding common
shares of beneficial interest in First Union, at the previously agreed upon per
share price of $4.00 ($14,090,264 in the aggregate). The shares were sold
pursuant to First Union's currently effective Registration Statement on Form
S-3.
-------------------
First Union Real Estate Equity and Mortgage Investments is a NYSE-listed
real estate investment trust (REIT) headquartered in Boston, Massachusetts.

EX - 99 . 1 14 e501129 _ ex99 - 1 . txt VORNAOD SALE ISSUANCE PRESS RELEASE FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS AT THE COMPANY Carolyn Tiffany Chief Operating Officer ( 617 ) 570 - 4614 FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS ANNOUNCES IT SALE OF 3,522,566 COMMON SHARES TO VORNADO REALTY TRUST FOR IMMEDIATE RELEASE - Boston , Massachusetts - November 7 , 2005 - First Union Real Estate Equity and Mortgage Investments ( NYSE : FUR ) announced today that it consummated the sale of its common shares of beneficial interest to a subsidiary of Vornado Realty Trust which was agreed to on August 5 , 2005 . Pursuant to a Securities Purchase Agreement dated as of November 7 , 2005 , Vornado acquired 3,522,566 shares , representing 9 . 9 % of the outstanding common shares of beneficial interest in First Union , at the previously agreed upon per share price of $ 4.00 ( $ 14,090,264 in the aggregate ) . The shares were sold pursuant to First Union 's currently effective Registration Statement on Form S - 3 . ------------------- First Union Real Estate Equity and Mortgage Investments is a NYSE - listed real estate investment trust ( REIT ) headquartered in Boston , Massachusetts .
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