<ARTICLE> 5
       
                             
<PERIOD-TYPE>                    9-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               JUL-31-1997
<CASH>                                         4234000
<SECURITIES>                                         0
<RECEIVABLES>                                  2837000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                       130064000<F1>
<DEPRECIATION>                                22742000
<TOTAL-ASSETS>                               130714000
<CURRENT-LIABILITIES>                          1397000<F2>
<BONDS>                                       38857000
<COMMON>                                         51000       
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                    88633000
<TOTAL-LIABILITY-AND-EQUITY>                 130714000
<SALES>                                              0
<TOTAL-REVENUES>                              19676000
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               9665000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             2500000
<INCOME-PRETAX>                                7511000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            7511000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   7511000
<EPS-PRIMARY>                                     1.46
<EPS-DILUTED>                                     1.46
<FN>
<F1>This item consists of Real Estate Investments Owned
<F2>This item consists of Mortgage Notes Payable
</FN>