<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 1,418,805 <SECURITIES> 0 <RECEIVABLES> 247,349 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 81,641,029 <DEPRECIATION> (45,107,293) <TOTAL-ASSETS> 41,943,685 <CURRENT-LIABILITIES> 0 <BONDS> 54,698,629 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 41,943,685 <SALES> 3,807,257 <TOTAL-REVENUES> 3,830,247 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 3,109,867 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,208,667 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> (488,287) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (488,287) <EPS-PRIMARY> 0 <EPS-DILUTED> 0