-------------------------------
                       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 10, 1998
                                                --------------------------------

                         United Investors Realty Trust
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

            Texas                        0-23833                76-0265701
-------------------------------        -----------        ----------------------
(State or other jurisdiction of        (Commission            (IRS Employer
 incorporation or organization)        File Number)         Identification No.)

      5847 San Felipe, Suite 850
              Houston, TX                                  77057
----------------------------------------               ------------
(Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code:       (713) 781-2860
                                                   -----------------------------

                                      N.A.
         -------------------------------------------------------------
         (Former name or former address, if changed since last report)


<PAGE>


Item 2.   Acquisition or Disposition if Assets

     On May 27, 1998, United Investors Realty Trust (the "Registrant")  acquired
the Big Curve Shopping  Center located in Yuma,  Arizona (the  "Property").  The
Property  was  purchased  pursuant  to a Contract  of Sale dated  March 23, 1998
through a wholly owned  subsidiary  controlled by the Trust.  The  Property,  an
approximately  126,400 square foot community  shopping center,  located in Yuma,
Arizona, was purchased from Dermot Big Curve, LLC for $8,850,000.  The asset was
acquired with available cash of $2,884,870.66  and by taking title subject to an
existing loan having a principal  balance  outstanding on the date of closing of
$5,965,129.34.  Interest on this loan is payable at the rate of 9.19% per annum.
This loan  matures on October 1, 2006 and may be prepaid on or after  October 1,
2000 with a yield maintenance based penalty with a minimum of one percent of the
then  outstanding  principal  balance.  The  Registrant  intends to  continue to
operate the Property as a shopping center.


Item  7.    Financial Statements and Exhibits.

         (a)      Financial Statements.

                  It is impractical to provide the required financial statements
                  Big Curve shopping center at this time. The required financial
                  statements of the Big Curve  shopping  center will be filed by
                  amendment  as soon as  practicable,  but not later than August
                  11, 1998.

         (b)      Pro Forma Financial Information.

                  It  is   impracticable  to  provide  the  required  pro  forma
                  financial  information  for Big Curve shopping  center at this
                  time. The required pro forma financial  information of the Big
                  Curve  shopping  center will be filed by  amendment as soon as
                  practicable, but not later than August 11, 1998.

         (c       Exhibits.

                  The Exhibits to this  report are listed  on the Exhibit  Index
                  set forth elsewhere herein.

                                   SIGNATURES

         Pursuant To the  requirements  of Section 13 or 15(d) 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, on June , 1998.



                           UNITED INVESTORS REALTY TRUST


                           By: /s/ Daniel M. Jones, III
                                   ---------------------------------------------
                                   Daniel M. Jones, III
                                   Chief Financial Officer

<PAGE>


                          UNITED INVESTORS REALTY TRUST

                                  EXHIBIT INDEX


Number and Description of Exhibit


10.28    Contract of Sale between  Dermot Big Curve,  LLC. And United  Investors
         Realty Trust dated March 23, 1998.

10.29    Promissory  Note  dated as of  September  20,  1996 made by Dermot  Big
         Curve, LLC to Liberty Mortgage Acceptance  Corporation,  as beneficiary
         in the principal amount of $6,072,000.
[{"type": "8-K", "sequence": "1", "description": "CURRENT REPORT FOR UNITED INVESTORS REALTY TRUST", "secsgml_size_bytes": 4847}]
{"company-data": {"conformed-name": "UNITED INVESTORS REALTY TRUST", "cik": "0000868196", "assigned-sic": "6798", "irs-number": "760265701", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13915", "film-number": "98646751"}, "business-address": {"street1": "5847 SAN FELIPE STE 850", "city": "HOUSTON", "state": "TX", "zip": "77057", "phone": "7137812860"}, "mail-address": {"street1": "5847 SAN FELIPE SUITE 850", "city": "HOUSTON", "state": "TX", "zip": "77057"}}
-------------------------------
                       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 10, 1998
                                                --------------------------------

                         United Investors Realty Trust
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

            Texas                        0-23833                76-0265701
-------------------------------        -----------        ----------------------
(State or other jurisdiction of        (Commission            (IRS Employer
 incorporation or organization)        File Number)         Identification No.)

      5847 San Felipe, Suite 850
              Houston, TX                                  77057
----------------------------------------               ------------
(Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code:       (713) 781-2860
                                                   -----------------------------

                                      N.A.
         -------------------------------------------------------------
         (Former name or former address, if changed since last report)
Item 2.   Acquisition or Disposition if Assets

     On May 27, 1998, United Investors Realty Trust (the "Registrant")  acquired
the Big Curve Shopping  Center located in Yuma,  Arizona (the  "Property").  The
Property  was  purchased  pursuant  to a Contract  of Sale dated  March 23, 1998
through a wholly owned  subsidiary  controlled by the Trust.  The  Property,  an
approximately  126,400 square foot community  shopping center,  located in Yuma,
Arizona, was purchased from Dermot Big Curve, LLC for $8,850,000.  The asset was
acquired with available cash of $2,884,870.66  and by taking title subject to an
existing loan having a principal  balance  outstanding on the date of closing of
$5,965,129.34.  Interest on this loan is payable at the rate of 9.19% per annum.
This loan  matures on October 1, 2006 and may be prepaid on or after  October 1,
2000 with a yield maintenance based penalty with a minimum of one percent of the
then  outstanding  principal  balance.  The  Registrant  intends to  continue to
operate the Property as a shopping center.

Item  7.    Financial Statements and Exhibits.

         (a)      Financial Statements.

                  It is impractical to provide the required financial statements
                  Big Curve shopping center at this time. The required financial
                  statements of the Big Curve  shopping  center will be filed by
                  amendment  as soon as  practicable,  but not later than August
                  11, 1998.

         (b)      Pro Forma Financial Information.

                  It  is   impracticable  to  provide  the  required  pro  forma
                  financial  information  for Big Curve shopping  center at this
                  time. The required pro forma financial  information of the Big
                  Curve  shopping  center will be filed by  amendment as soon as
                  practicable, but not later than August 11, 1998.

         (c       Exhibits.

                  The Exhibits to this  report are listed  on the Exhibit  Index
                  set forth elsewhere herein.

                                   SIGNATURES

         Pursuant To the  requirements  of Section 13 or 15(d) 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, on June , 1998.

                           UNITED INVESTORS REALTY TRUST

                           By: /s/ Daniel M. Jones, III
                                   ---------------------------------------------
                                   Daniel M. Jones, III
                                   Chief Financial Officer
UNITED INVESTORS REALTY TRUST

                                  EXHIBIT INDEX

Number and Description of Exhibit

10.28    Contract of Sale between  Dermot Big Curve,  LLC. And United  Investors
         Realty Trust dated March 23, 1998.

10.29    Promissory  Note  dated as of  September  20,  1996 made by Dermot  Big
         Curve, LLC to Liberty Mortgage Acceptance  Corporation,  as beneficiary
         in the principal amount of $6,072,000.