<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 THOSE FINANCIAL STATEMENTS AND THE FOOTNOTES PROVIDED
WITHIN THIS SCHEDULE.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1996
<CASH>                                      11,500,000
<SECURITIES>                                         0 
<RECEIVABLES>                                1,591,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            13,091,000
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                             228,726,000
<CURRENT-LIABILITIES>                          731,000
<BONDS>                                              0
<COMMON>                                   189,835,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                 25,057,000
<OTHER-SE>                                  12,288,000
<TOTAL-LIABILITY-AND-EQUITY>               228,726,000
<SALES>                                              0
<TOTAL-REVENUES>                            10,670,000
<CGS>                                                0
<TOTAL-COSTS>                                1,551,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              9,119,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          9,119,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 9,119,000
<EPS-PRIMARY>                                      .72<F1>
<EPS-DILUTED>                                      .72<F1>
<FN>
<F1>  The earnings per share reflects the earnings per share of the
Growth Shares.  
</FN>