<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUL-31-1994
<PERIOD-START>                             AUG-01-1994
<PERIOD-END>                               JAN-31-1995
<CASH>                                           8,138
<SECURITIES>                                         0
<RECEIVABLES>                                    9,648
<ALLOWANCES>                                   (1,000)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                16,786
<PP&E>                                         373,719
<DEPRECIATION>                                (44,441)
<TOTAL-ASSETS>                                 346,064
<CURRENT-LIABILITIES>                            3,695
<BONDS>                                         37,066
<COMMON>                                           109
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     245,194
<TOTAL-LIABILITY-AND-EQUITY>                   346,064
<SALES>                                         30,480<F1>
<TOTAL-REVENUES>                                30,480
<CGS>                                            9,360<F2>
<TOTAL-COSTS>                                    9,360
<OTHER-EXPENSES>                                 6,381<F3>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               3,340
<INCOME-PRETAX>                                 11,399
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             11,399
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  1,250<F4>
<CHANGES>                                            0
<NET-INCOME>                                    12,649
<EPS-PRIMARY>                                     1.16
<EPS-DILUTED>                                     1.16
<FN>
<F1>Rental and other revenue
<F2>Operating expenses of equity investments
<F3>Includes 3,740 of depreciation expense
<F4>Net gain on sales of investments
</FN>