<ARTICLE> 5
<LEGEND>  This Schedule contains summary financial information extracted from
the consolidated balance sheets and consolidated statements of operation and
is qualified in its entirety by reference to such financial statements (000's
are omitted).
</LEGEND>
<MULTIPLIER> 1
       
                        
<PERIOD-TYPE>              12-MOS
<FISCAL-YEAR-END>                          JUL-31-1997
<PERIOD-END>                               JUL-31-1997
<CASH>                                          42,781
<SECURITIES>                                     2,035
<RECEIVABLES>                                   12,035   
<ALLOWANCES>                                     5,581   
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0     
<PP&E>                                       1,277,775    
<DEPRECIATION>                                 105,866   
<TOTAL-ASSETS>                               1,261,144 
<CURRENT-LIABILITIES>                                0
<BONDS>                                        478,207   
<COMMON>                                       735,196    
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     72,775     
<OTHER-SE>                                     (63,016)
<TOTAL-LIABILITY-AND-EQUITY>                 1,261,144
<SALES>                                              0
<TOTAL-REVENUES>                               206,821
<CGS>                                                0
<TOTAL-COSTS>                                   96,039     
<OTHER-EXPENSES>                                 2,203
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              28,256         
<INCOME-PRETAX>                                 77,037    
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             77,037    
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    77,037
<EPS-PRIMARY>                                     1.31
<EPS-DILUTED>                                     1.31