<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> OCT-31-1994 <PERIOD-END> JUL-31-1994 <CASH> 3593000 <SECURITIES> 0 <RECEIVABLES> 1965000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 158610000<F1> <DEPRECIATION> (36898000) <TOTAL-ASSETS> 139606000 <CURRENT-LIABILITIES> 1075000 <BONDS> 4697000 <COMMON> 120579000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (30233000) <TOTAL-LIABILITY-AND-EQUITY> 139606000 <SALES> 0 <TOTAL-REVENUES> 14066000 <CGS> 0 <TOTAL-COSTS> 5473000 <OTHER-EXPENSES> 1214000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2678000 <INCOME-PRETAX> 1700000 <INCOME-TAX> 0 <INCOME-CONTINUING> 1700000 <DISCONTINUED> 0 <EXTRAORDINARY> 82000<F2> <CHANGES> 0 <NET-INCOME> 1782000 <EPS-PRIMARY> .34 <EPS-DILUTED> .34 <FN> <F1>This item consists of Real Estate Investments: Properties Owned <F2>This item consists of Gains on Sales of Properties </FN>