<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          OCT-31-1995
<PERIOD-END>                               JAN-31-1995
<CASH>                                         3884000
<SECURITIES>                                         0
<RECEIVABLES>                                  2476000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                       166142000<F1>
<DEPRECIATION>                              (26920000)
<TOTAL-ASSETS>                               152836000
<CURRENT-LIABILITIES>                          1012000
<BONDS>                                       62534000
<COMMON>                                     120711000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                  (33085000)
<TOTAL-LIABILITY-AND-EQUITY>                 152836000
<SALES>                                              0
<TOTAL-REVENUES>                               5169000
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               2319000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             1148000
<INCOME-PRETAX>                                 575000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             575000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    575000
<EPS-PRIMARY>                                      .11
<EPS-DILUTED>                                      .11
<FN>
<F1>This item consists of Real Estate Investments:Properties Owned
</FN>