<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 6,212 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 780,956 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 780,956 <SALES> 0 <TOTAL-REVENUES> 23,564 <CGS> 0 <TOTAL-COSTS> 10,584 <OTHER-EXPENSES> 1,176 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,262 <INCOME-PRETAX> 10,474 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 10,474 <EPS-PRIMARY> 0.55 <EPS-DILUTED> 0.55<F1> <FN> <F1>EPS-DILUTED NOT SEPARATELY REPORTED BECAUSE INCLUSION OF OPTIONS USING TREASURY STOCK METHOD AND THE ASSUMED CONVERSION OF DEBENTURES OUTSTANDING NOT MATERIALLY DILUTIVE. </FN>