<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> OCT-31-1998 <PERIOD-END> JUL-31-1998 <CASH> 649 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 78,697 <DEPRECIATION> (13,826) <TOTAL-ASSETS> 71,251 <CURRENT-LIABILITIES> 0 <BONDS> 48,020 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 19,314 <OTHER-SE> 1,486 <TOTAL-LIABILITY-AND-EQUITY> 71,251 <SALES> 0 <TOTAL-REVENUES> 10,733 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 5,224 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,813 <INCOME-PRETAX> 2,696 <INCOME-TAX> 8 <INCOME-CONTINUING> 2,688 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,688 <EPS-PRIMARY> 1.72 <EPS-DILUTED> 1.72