<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 1,740,417 <SECURITIES> 0 <RECEIVABLES> 19,005 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 51,741,145 <DEPRECIATION> (31,451,060) <TOTAL-ASSETS> 30,933,820 <CURRENT-LIABILITIES> 0 <BONDS> 38,675,122 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 30,933,820 <SALES> 3,890,225 <TOTAL-REVENUES> 3,939,990 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,557,875 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 932,351 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 449,764 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 449,764 <EPS-PRIMARY> 0 <EPS-DILUTED> 0