<TABLE> <S> <C>


<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL  INFORMATION EXTRACTED FROM THE RELATED
FINANCIAL  STATEMENTS OF GABLES REALTY LIMITED  PARTNERSHIP  AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO THE RELATED FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER>                                  1000

<S>                                             <C>               <C>             <C>          <C>
<PERIOD-TYPE>                                  YEAR              3-MOS            6-MOS        9-MOS
<FISCAL-YEAR-END>                              DEC-31-1996       DEC-31-1997    DEC-31-1997    DEC-31-1997
<PERIOD-START>                                 JAN-01-1996       JAN-01-1997    JAN-01-1997    JAN-01-1997
<PERIOD-END>                                   DEC-31-1996       MAR-31-1997    JUN-30-1997    SEP-30-1997
<CASH>                                         12,815            9,067          10,816         10,257
<SECURITIES>                                   0                 0              0              0
<RECEIVABLES>                                  21,505            0              0              0
<ALLOWANCES>                                   0                 0              0              0
<INVENTORY>                                    0                 0              0              0
<CURRENT-ASSETS>                               0                 0              0              0
<PP&E>                                         784,600           821,748        868,605        1,007,520
<DEPRECIATION>                                 74,903            78,803         84,343         90,459
<TOTAL-ASSETS>                                 759,660           766,035        810,892        943,405
<CURRENT-LIABILITIES>                          0                 0              0              0
<BONDS>                                        390,321           402,613        447,350        440,728
<PREFERRED-MANDATORY>                          0                 0              0              0
<PREFERRED>                                    0                 0              0              0
<COMMON>                                       0                 0              0              0
<OTHER-SE>                                     332,908           334,275        331,729        462,357
<TOTAL-LIABILITY-AND-EQUITY>                   759,660           766,035        810,892        943,405
<SALES>                                        0                 0              0              0
<TOTAL-REVENUES>                               116,181           32,232         65,973         102,866
<CGS>                                          0                 0              0              0
<TOTAL-COSTS>                                  66,247            18,744         37,965         58,689
<OTHER-EXPENSES>                               0                 0              0              0
<LOSS-PROVISION>                               0                 0              0              0
<INTEREST-EXPENSE>                             23,036            6,224          12,974         19,227
<INCOME-PRETAX>                                27,541            12,310         20,235         29,054
<INCOME-TAX>                                   0                 0              0              0
<INCOME-CONTINUING>                            27,541            12,310         20,235         29,054
<DISCONTINUED>                                 0                 0              0              0
<EXTRAORDINARY>                                631               712            712            712
<CHANGES>                                      0                 0              0              0
<NET-INCOME>                                   26,910            11,598         19,523         28,342
<EPS-PRIMARY>                                  1.33              0.51           0.85           1.23
<EPS-DILUTED>                                  1.32              0.50           0.84           1.22


</TABLE>