<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                           2,092
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                (86,127)
<TOTAL-ASSETS>                                 581,378
<CURRENT-LIABILITIES>                                0
<BONDS>                                        207,432
<COMMON>                                           234
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          2
<OTHER-SE>                                     350,590
<TOTAL-LIABILITY-AND-EQUITY>                   581,378
<SALES>                                              0
<TOTAL-REVENUES>                                22,121
<CGS>                                                0
<TOTAL-COSTS>                                    3,725
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               5,766
<INCOME-PRETAX>                                 10,751
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             10,751
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    10,751
<EPS-PRIMARY>                                        0<F1>
<EPS-DILUTED>                                        0<F1>
<FN>
<F1>Primary and fully diluted earnings per share
attributable to Core Group Common Stock $.40;
Psychiatric Group Depositary Shares $.68.
</FN>