WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  


<ARTICLE>                     5
<MULTIPLIER>                                   1
<CURRENCY>                                    US Dollars

                             
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                              Oct-31-2000
<PERIOD-START>                                 Nov-01-1999
<PERIOD-END>                                   Jan-31-2000
<EXCHANGE-RATE>                                1
<CASH>                                         3,618,000
<SECURITIES>                                   0
<RECEIVABLES>                                  3,707,000
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               7,325,000
<PP&E>                                         203,742,000 <F1>
<DEPRECIATION>                                 31,855,000
<TOTAL-ASSETS>                                 183,190,000
<CURRENT-LIABILITIES>                          3,642,000 <F2>
<BONDS>                                        51,096,000
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    33,462,000
<COMMON>                                       122,181,000
<OTHER-SE>                                     (32,068,000)
<TOTAL-LIABILITY-AND-EQUITY>                   183,190,000
<SALES>                                        0
<TOTAL-REVENUES>                               7,812,000
<CGS>                                          0
<TOTAL-COSTS>                                  0
<OTHER-EXPENSES>                               4,797,000
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             1,115,000
<INCOME-PRETAX>                                1,900,000
<INCOME-TAX>                                   113,000 <F3>
<INCOME-CONTINUING>                            1,787,000
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      786,000 <F4>
<NET-INCOME>                                   1,001,000
<EPS-BASIC>                                    .09 <F5>
<EPS-DILUTED>                                  .10 <F5>
[EPS-BASIC]                                    .09 <F6>
[EPS-DILUTED]                                  .10 <F6>


<FN>
<F1>  This item consists of Real Estate Investment
<F2>  This item includes Bank Loan of $2,000,000
<F3>  This item consists of Minority Interest in Consolidated Joint Ventures
<F4>  This item consists of Preferred Stock Dividends
<F5>  Applicable to Common Shareholders
<F6>  Applicable to Class A Shareholders
</FN>