<ARTICLE> 5
<LEGEND>
The 1996 and 1995 financial statements contained in this amended 10-Q/A
have been restated to reflect FM Properties Inc.'s investment in the
Partnership under the equity basis of accounting.  FM Properties had
previously consolidated the 99.8% owned Partnership.
</LEGEND>
<RESTATED> 
<CIK> 0000885508
<NAME> FM PROPERTIES INC.
<MULTIPLIER> 1,000
       
                                                  
<PERIOD-TYPE>                   9-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1995
<PERIOD-END>                               SEP-30-1996             SEP-30-1995
<CASH>                                               0                       0
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<TOTAL-ASSETS>                                  61,975                  54,655
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<PREFERRED>                                          0                       0
<COMMON>                                           143                     143
<OTHER-SE>                                      60,446                  54,294
<TOTAL-LIABILITY-AND-EQUITY>                    61,975                  54,655
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<INCOME-PRETAX>                                    540                 (4,933)
<INCOME-TAX>                                     (526)                       0
<INCOME-CONTINUING>                              1,066                 (4,933)
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<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                     1,066                 (4,933)
<EPS-PRIMARY>                                      .07                   (.35)
<EPS-DILUTED>                                        0                       0