<ARTICLE> 5
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-START>                             JUL-01-2000
<PERIOD-END>                               SEP-30-2000
<CASH>                                          66,319<F1>
<SECURITIES>                                         0
<RECEIVABLES>                                    5,971<F2>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 434,925
<CURRENT-LIABILITIES>                                0
<BONDS>                                        128,755<F3>
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           192
<OTHER-SE>                                     288,932
<TOTAL-LIABILITY-AND-EQUITY>                   434,925
<SALES>                                              0
<TOTAL-REVENUES>                                12,198
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 8,905
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 514
<INCOME-PRETAX>                                  5,048
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              5,048
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     5,048
<EPS-BASIC>                                        .26
<EPS-DILUTED>                                      .26
<FN>
<F1>INCLUDES RESTRICTED CASH OF $969
<F2>INCLUDES DEFERRED RENT RECEIVABLE OF $2,002
<F3>INCLUDES NOTE PAYBLE-INTERIM FINANCING OF $97,830
</FN>