<ARTICLE>  5
<LEGEND>
ART. 5 FDS FOR 10-K
</LEGEND>
<MULTIPLIER>  1,000
       
                                                   
<PERIOD-TYPE>                                         YEAR
<FISCAL-YEAR-END>                                     APR-30-1996
<PERIOD-END>                                          APR-30-1996
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<DEPRECIATION>                                                 14
<TOTAL-ASSETS>                                             25,036
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<BONDS>                                                    53,330
<COMMON>                                                      102
<PREFERRED-MANDATORY>                                           0
<PREFERRED>                                                     1
<OTHER-SE>                                                (35,777)
<TOTAL-LIABILITY-AND-EQUITY>                               25,036
<SALES>                                                     3,620
<TOTAL-REVENUES>                                            3,620
<CGS>                                                           0
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<OTHER-EXPENSES>                                            3,351
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<INTEREST-EXPENSE>                                          4,845
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<INCOME-TAX>                                                    0
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<EXTRAORDINARY>                                                 0
<CHANGES>                                                       0
<NET-INCOME>                                               (5,631)
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