<ARTICLE> 5 <PERIOD-TYPE> 12-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1994 DEC-31-1995 <PERIOD-END> DEC-31-1994 MAR-31-1995 <CASH> 4,199,844 3,927,468 <SECURITIES> 0 0 <RECEIVABLES> 64,464 57,022 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 0 0 <PP&E> 87,104,715 87,530,757 <DEPRECIATION> (44,274,163) (45,208,318) <TOTAL-ASSETS> 51,749,891 51,068,517 <CURRENT-LIABILITIES> 0 0 <BONDS> 52,098,952 51,936,945 <COMMON> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <OTHER-SE> (3,001,001) (3,428,116) <TOTAL-LIABILITY-AND-EQUITY> 51,749,891 51,068,517 <SALES> 18,202,306 4,678,641 <TOTAL-REVENUES> 18,642,220 4,745,095 <CGS> 0 0 <TOTAL-COSTS> 0 0 <OTHER-EXPENSES> 14,145,459 3,710,520 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 4,884,548 1,209,446 <INCOME-PRETAX> (387,787) (174,871) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (387,787) (174,871) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (387,787) (174,871) <EPS-PRIMARY> 0 0 <EPS-DILUTED> 0 0