content: SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, DC 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) December 22, 2000.
  
                        Wilshire Real Estate Investment Inc.
                 (Exact Name of Registrant as Specified in Charter)
  
  
          Maryland                   0-23911                   52-2081138
  (State or Other Jurisdiction    (Commission                 (IRS Employer
       of Incorporation)          File Number)               Identification No.)
  
                     1631 SW Columbia Street, Portland, OR 97201
                 (Address of principal executive offices) (Zip Code)
  
          Registrant's telephone number, including area code (503) 721-6500
  <PAGE>
  
  
  Item 5.  Other Events.
  
           Wilshire Real Estate Investment Inc. (the "Company") owns all of the
  issued  and  outstanding  share  capital  of  BEP  Islands  Limited,  a  company
  incorporated  in Jersey,  Channel  Islands.  BEP Islands  Limited  holds 2,647 A
  shares (or approximately  26.47% of the issued and outstanding share capital) of
  BEP Property Holdings Limited, a company incorporated in Jersey, Channel Islands
  ("BEP Property"),  which owns all of the issued and outstanding share capital of
  BEP  Acquisitions  Limited,  a company  incorporated in Jersey,  Channel Islands
  ("BEP Acquisitions").
  
           On December 22, 2000, the boards of directors of BEP Acquisitions and
  Bourne End  Properties  Plc, a company  registered in England and Wales ("Bourne
  End")  announced  that they had agreed to the terms of an offer (the "Offer") by
  BEP Acquisitions  for all of the issued and outstanding  capital stock of Bourne
  End. On January 5, 2001, BEP  Acquisitions  commenced the Offer. The Offer is 69
  pence in cash for each Bourne End share and values Bourne End's  existing  share
  capital of 60,899,334 Bourne End shares at approximately L42 million.  The Offer
  expires  at 3:00  p.m.  on  January  26,  2001.  The Offer is  subject  to valid
  acceptances  being  received (and not withdrawn) in respect of not less than 90%
  of the Bourne End shares and other customary conditions.
  
           The Board of Directors of Bourne End has unanimously recommended that
  the  shareholders of Bourne End accept the Offer.  BEP Acquisitions has received
  irrevocable undertakings to accept the Offer in respect of 25,537,563 Bourne End
  shares,   representing   approximately  41.9%  of  the  outstanding  shares.  In
  addition,  BEP Acquisition has received a non-binding letter of intent from an
  institutional  fund manager to accept the Offer in respect of  7,905,000  Bourne
  End  shares,  representing  approximately  12.9% of the  outstanding  Bourne End
  shares.
  
           Bourne End has agreed to pay BEP Acquisitions an inducement fee of
  L414,000 if the Offer lapses or is withdrawn  following  the  announcement  of a
  competing  cash offer by a third  party at not less than 10% more than the price
  of the Offer.
  
           Bourne End is a specialist investor in retail property, currently
  owning nine town shopping centers in England and Scotland.  The shopping centers
  range in size from 80,000 sq. ft. to approximately 340,000 sq. ft.
  
           BEP Acquisitions was incorporated in Jersey for the purposes of making
  the Offer. BEP Acquisitions' share capital is wholly owned by BEP Property.  The
  shareholders  in BEP  Property  are as  follows:  BEP Islands  Limited  (2,647 A
  shares),  Merrill Lynch (Jersey)  Holdings Limited (7,059 B shares) and Greenbau
  Estuary Limited (294 C shares).
  
           Merrill Lynch (Jersey) Holdings Limited is a subsidiary of Merrill
  Lynch & Co., Inc. ("Merrill Lynch"). Merrill Lynch is one of the world's leading
  financial  management  and advisory  companies with offices in over 40 countries
  and total  client  assets of  approximately  USD1.7  trillion.  The real  estate
  activities of Merrill Lynch in Europe include senior,  mezzanine and securitized
  financing,  principal real estate  investment,  as well as a dedicated  advisory
  practice.
  
  <PAGE>
  
           Greenbau Estuary Limited was incorporated in Jersey for purposes of
  making an  investment  in BEP  Property  and is owned by Peter  Kasch and Julian
  Newiss  who  are  employees  of  The  Greenwich   International  (U.K.)  Limited
  Partnership,  an English limited  partnership  ("Greenwich  U.K.").  The general
  partner of  Greenwich  U.K. is  Greenwich  Group  International  LLC, a New York
  limited  liability  company  (collectively  with Greenwich  U.K., the "Greenwich
  Group").  Greenwich Group is an  international  real estate  investment  banking
  organization  based in New York, with offices in Boston,  Washington,  D.C., Los
  Angeles,  London,  Frankfurt  and  Singapore.  Since  its  founding  in  1995,
  Greenwich  Group has purchased,  in partnership  with various  investment  funds
  approximately L500 million in real estate within the United Kingdom.
  
  
  
  
  <PAGE>
  
                                     SIGNATURES
  
  
           Pursuant to the requirements of the Securities Exchange Act of 1934,
  Wilshire Real Estate Investment Inc. has duly caused this report to be signed on
  its behalf by the undersigned hereunto duly authorized.
  
  Date:  January 12, 2001
  
                                             WILSHIRE REAL ESTATE
                                                INVESTMENT INC.
  
  
                                             By: /s/ Lawrence A. Mendelsohn
                                                   Lawrence A. Mendelsohn
                                                    President
  
  
                                             By: /s/ Chris Tassos
                                                   Chris Tassos
                                                Executive Vice President and Chief
                                                               Financial Officer
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "0001.txt", "secsgml_size_bytes": 6086}]
metadata_filer: {"company-data": {"conformed-name": "WILSHIRE REAL ESTATE INVESTMENT TRUST INC", "cik": "0001048566", "assigned-sic": "6798", "irs-number": "522081138", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23911", "film-number": "1508761"}, "business-address": {"street1": "1310 S W 17TH ST", "city": "PORTLAND", "state": "OR", "zip": "97201", "phone": "5037216500"}, "mail-address": {"street1": "1310 S W 17TH ST", "city": "PORTLAND", "state": "OR", "zip": "97201"}}
text: SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, DC 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) December 22, 2000.
  
                        Wilshire Real Estate Investment Inc.
                 (Exact Name of Registrant as Specified in Charter)
  
          Maryland                   0-23911                   52-2081138
  (State or Other Jurisdiction    (Commission                 (IRS Employer
       of Incorporation)          File Number)               Identification No.)
  
                     1631 SW Columbia Street, Portland, OR 97201
                 (Address of principal executive offices) (Zip Code)
  
          Registrant's telephone number, including area code (503) 721-6500
  Item 5.  Other Events.
  
           Wilshire Real Estate Investment Inc. (the "Company") owns all of the
  issued  and  outstanding  share  capital  of  BEP  Islands  Limited,  a  company
  incorporated  in Jersey,  Channel  Islands.  BEP Islands  Limited  holds 2,647 A
  shares (or approximately  26.47% of the issued and outstanding share capital) of
  BEP Property Holdings Limited, a company incorporated in Jersey, Channel Islands
  ("BEP Property"),  which owns all of the issued and outstanding share capital of
  BEP  Acquisitions  Limited,  a company  incorporated in Jersey,  Channel Islands
  ("BEP Acquisitions").
  
           On December 22, 2000, the boards of directors of BEP Acquisitions and
  Bourne End  Properties  Plc, a company  registered in England and Wales ("Bourne
  End")  announced  that they had agreed to the terms of an offer (the "Offer") by
  BEP Acquisitions  for all of the issued and outstanding  capital stock of Bourne
  End. On January 5, 2001, BEP  Acquisitions  commenced the Offer. The Offer is 69
  pence in cash for each Bourne End share and values Bourne End's  existing  share
  capital of 60,899,334 Bourne End shares at approximately L42 million.  The Offer
  expires  at 3:00  p.m.  on  January  26,  2001.  The Offer is  subject  to valid
  acceptances  being  received (and not withdrawn) in respect of not less than 90%
  of the Bourne End shares and other customary conditions.
  
           The Board of Directors of Bourne End has unanimously recommended that
  the  shareholders of Bourne End accept the Offer.  BEP Acquisitions has received
  irrevocable undertakings to accept the Offer in respect of 25,537,563 Bourne End
  shares,   representing   approximately  41.9%  of  the  outstanding  shares.  In
  addition,  BEP Acquisition has received a non-binding letter of intent from an
  institutional  fund manager to accept the Offer in respect of  7,905,000  Bourne
  End  shares,  representing  approximately  12.9% of the  outstanding  Bourne End
  shares.
  
           Bourne End has agreed to pay BEP Acquisitions an inducement fee of
  L414,000 if the Offer lapses or is withdrawn  following  the  announcement  of a
  competing  cash offer by a third  party at not less than 10% more than the price
  of the Offer.
  
           Bourne End is a specialist investor in retail property, currently
  owning nine town shopping centers in England and Scotland.  The shopping centers
  range in size from 80,000 sq. ft. to approximately 340,000 sq. ft.
  
           BEP Acquisitions was incorporated in Jersey for the purposes of making
  the Offer. BEP Acquisitions' share capital is wholly owned by BEP Property.  The
  shareholders  in BEP  Property  are as  follows:  BEP Islands  Limited  (2,647 A
  shares),  Merrill Lynch (Jersey)  Holdings Limited (7,059 B shares) and Greenbau
  Estuary Limited (294 C shares).
  
           Merrill Lynch (Jersey) Holdings Limited is a subsidiary of Merrill
  Lynch & Co., Inc. ("Merrill Lynch"). Merrill Lynch is one of the world's leading
  financial  management  and advisory  companies with offices in over 40 countries
  and total  client  assets of  approximately  USD1.7  trillion.  The real  estate
  activities of Merrill Lynch in Europe include senior,  mezzanine and securitized
  financing,  principal real estate  investment,  as well as a dedicated  advisory
  practice.
  Greenbau Estuary Limited was incorporated in Jersey for purposes of
  making an  investment  in BEP  Property  and is owned by Peter  Kasch and Julian
  Newiss  who  are  employees  of  The  Greenwich   International  (U.K.)  Limited
  Partnership,  an English limited  partnership  ("Greenwich  U.K.").  The general
  partner of  Greenwich  U.K. is  Greenwich  Group  International  LLC, a New York
  limited  liability  company  (collectively  with Greenwich  U.K., the "Greenwich
  Group").  Greenwich Group is an  international  real estate  investment  banking
  organization  based in New York, with offices in Boston,  Washington,  D.C., Los
  Angeles,  London,  Frankfurt  and  Singapore.  Since  its  founding  in  1995,
  Greenwich  Group has purchased,  in partnership  with various  investment  funds
  approximately L500 million in real estate within the United Kingdom.
  SIGNATURES
  
           Pursuant to the requirements of the Securities Exchange Act of 1934,
  Wilshire Real Estate Investment Inc. has duly caused this report to be signed on
  its behalf by the undersigned hereunto duly authorized.
  
  Date:  January 12, 2001
  
                                             WILSHIRE REAL ESTATE
                                                INVESTMENT INC.
  
                                             By: /s/ Lawrence A. Mendelsohn
                                                   Lawrence A. Mendelsohn
                                                    President
  
                                             By: /s/ Chris Tassos
                                                   Chris Tassos
                                                Executive Vice President and Chief
                                                               Financial Officer