For the year ended Dec. 31, the real estate investment trust reported far better results: earnings of $13.2 million, or $0.41 per share, as compared to a net loss of $41.2 million, or a loss of $1.45 per share, for 2000.

For the fourth quarter ended Dec. 31, total revenues fell just under $18 million to $11.9 million from $29.9 million in the fourth quarter of 2000. This decrease was mostly attributable to asset sales completed since September 2000 under the company's liquidation plan.

The 2000 three-month period was favorably affected by a net gain on sales of real estate of $5.7 million. The 2000 three-month period was hurt earnings-wise by costs of $3.05 associated with the company's pursuit of its strategic alternatives and litigation and legal expenses of $1.9 million.