CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS           
                             

As independent public accountants, we hereby consent to the incorporation
of our report dated June 23, 1998 on the statement of the excess of
revenues over specific operating expenses for Hickory Hollow Mall,
Rivergate Mall, Village at Rivergate, Courtyard at Hickory Hollow and
Lions Head Village for the year ended December 31, 1997 included in this
Form 8-K, into the Company's previously filed Registration Statement Form
S-3 (File No. 333-47041).


                                        Arthur Andersen LLP



New York, New York
June 23, 1998