<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>