<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>