<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE SECOND QUARTER 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q. </LEGEND> <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 6,308,934 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 13,133,249 <CURRENT-LIABILITIES> 0 <BONDS> 45,267,812 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (32,247,616) <TOTAL-LIABILITY-AND-EQUITY> 13,133,249 <SALES> 0 <TOTAL-REVENUES> 448,733 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 562,977 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,772,942 <INCOME-PRETAX> (2,887,186) <INCOME-TAX> 0 <INCOME-CONTINUING> (2,887,186) <DISCONTINUED> 4,903,873 <EXTRAORDINARY> 1,653,096 <CHANGES> 0 <NET-INCOME> 3,669,783 <EPS-PRIMARY> 71.19 <EPS-DILUTED> 71.19