<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE THIRD QUARTER 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q. </LEGEND> <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> SEP-30-1995 <CASH> 3,283,207 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 11,364,795 <CURRENT-LIABILITIES> 0 <BONDS> 41,804,901 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (30,542,478) <TOTAL-LIABILITY-AND-EQUITY> 11,364,795 <SALES> 0 <TOTAL-REVENUES> 84,701 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 378,794 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 4,094,313 <INCOME-PRETAX> (4,388,406) <INCOME-TAX> 0 <INCOME-CONTINUING> (4,388,406) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (4,388,406) <EPS-PRIMARY> (85.14) <EPS-DILUTED> (85.14)