<ARTICLE> 5
<LEGEND> This Schedule contains summary financial information
extracted from the consolidated balance sheets and consolidated
statements of income and is qualified in its entirety by
reference to such financial statements.

       
                        
<PERIOD-TYPE>               3-MOS
<FISCAL-YEAR-END>           JUL-31-1994
<PERIOD-END>                OCT-31-1994
<CASH>                            1,867
<SECURITIES>                      5,991
<RECEIVABLES>                     8,830
<ALLOWANCES>                     (2,562)   
<INVENTORY>                           0
<CURRENT-ASSETS>                      0
<PP&E>                          661,781    
<DEPRECIATION>                   52,555     
<TOTAL-ASSETS>                  652,964<F1>
<CURRENT-LIABILITIES>                 0
<BONDS>                          72,444   
<COMMON>                        608,853    
<PREFERRED-MANDATORY>                 0
<PREFERRED>                           0
<OTHER-SE>                      (42,305)
<TOTAL-LIABILITY-AND-EQUITY>    652,964<F2>
<SALES>                               0
<TOTAL-REVENUES>                 29,961
<CGS>                                 0
<TOTAL-COSTS>                    13,969   
<OTHER-EXPENSES>                    495 
<LOSS-PROVISION>                    238  
<INTEREST-EXPENSE>                    0
<INCOME-PRETAX>                  15,259     
<INCOME-TAX>                          0
<INCOME-CONTINUING>              15,259
<DISCONTINUED>                        0
<EXTRAORDINARY>                       0
<CHANGES>                             0
<NET-INCOME>                     15,259  
<EPS-PRIMARY>                       .29
<EPS-DILUTED>                       .29
<FN>
<F1> Additional Liabilities not shown are: Other Liabilities, and
      Tenants' Security Deposits which total 13,994.
<F2> Other Assets not shown are: Other Receivables, Prepaid
      Expenses and Deferred Charges, and Other Assets which total
      29,612.