<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. </LEGEND> <MULTIPLIER>1,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> JUL-31-1994 <PERIOD-END> JUL-31-1994 <CASH> 3,116 <SECURITIES> 6,293 <RECEIVABLES> 8,622 <ALLOWANCES> (2,332) <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 621,342 <DEPRECIATION> (49,102) <TOTAL-ASSETS> 616,993<F1> <CURRENT-LIABILITIES> 0 <BONDS> 35,560 <COMMON> 605,437 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (39,944) <TOTAL-LIABILITY-AND-EQUITY> 616,993<F2> <SALES> 0 <TOTAL-REVENUES> 100,955 <CGS> 0 <TOTAL-COSTS> 45,761 <OTHER-EXPENSES> 2,713 <LOSS-PROVISION> 1,152 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 52,319<F3> <INCOME-TAX> 0 <INCOME-CONTINUING> 52,319<F3> <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 52,319<F3> <EPS-PRIMARY> 1.06 <EPS-DILUTED> 1.06 <FN> <F1> Other Assets not shown are: Other Receivables, Prepaid Expenses and Deferred Charges, and Other Assets which total 29,054. <F2> Additional liabilities not shown are: Other Liabilities, and Tenants' Security Deposits which total 15,490. <F3> Includes Capital Gains of 990.