<ARTICLE> 5
<LEGEND>
Second-quarter and six-month 1996 amounts have been restated to reflect FM
Properties Inc.'s accounting for its investment in the Partnership under the
equity basis of accounting.
</LEGEND>
<RESTATED> 
<CIK> 0000885508
<NAME> FM PROPERTIES INC.
<MULTIPLIER> 1,000
       
                                                  
<PERIOD-TYPE>                   6-MOS                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1996
<PERIOD-END>                               JUN-30-1997             JUN-30-1996
<CASH>                                               0                       0
<SECURITIES>                                         0                       0
<RECEIVABLES>                                        0                       0
<ALLOWANCES>                                         0                       0
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                                 4,656                   2,684
<PP&E>                                               0                       0
<DEPRECIATION>                                       0                       0
<TOTAL-ASSETS>                                  64,737                  60,515
<CURRENT-LIABILITIES>                                0                       0
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                           143                     143
<OTHER-SE>                                      63,172                  58,986
<TOTAL-LIABILITY-AND-EQUITY>                    64,737                  60,515
<SALES>                                              0                       0
<TOTAL-REVENUES>                                     0                       0
<CGS>                                                0                       0
<TOTAL-COSTS>                                        0                       0
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                                   0                       0
<INCOME-PRETAX>                                  3,936                   (394)
<INCOME-TAX>                                       220                       0
<INCOME-CONTINUING>                              3,716                   (394)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                     3,716                   (394)
<EPS-PRIMARY>                                      .26                   (.03)
<EPS-DILUTED>                                        0                       0