<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF THE COMPANY AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO BOTH THOSE FINANCIAL STATEMENTS AND
THE FOOTNOTES PROVIDED WITHIN THIS SCHEDULE.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-Mos
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                      23,738,000
<SECURITIES>                                         0
<RECEIVABLES>                                1,302,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            25,040,000
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                             226,578,000
<CURRENT-LIABILITIES>                        1,060,000
<BONDS>                                              0
<COMMON>                                   188,624,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                 24,471,000
<OTHER-SE>                                  12,423,000
<TOTAL-LIABILITY-AND-EQUITY>               226,578,000
<SALES>                                              0
<TOTAL-REVENUES>                             5,344,000
<CGS>                                                0
<TOTAL-COSTS>                                  812,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              4,532,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          4,532,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 4,532,000
<EPS-PRIMARY>                                      .36<F1>
<EPS-DILUTED>                                      .36<F1>  
<FN>
<F1>
The earnings per share reflects the earnings per share of the Growth Shares. 
</FN>