<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL REPORT ON FORM 10-K AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-K. </LEGEND> <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 7,969,815 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 14,447,030 <CURRENT-LIABILITIES> 0 <BONDS> 47,605,156 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (33,238,559) <TOTAL-LIABILITY-AND-EQUITY> 14,447,030 <SALES> 0 <TOTAL-REVENUES> 3,666,547 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 861,698 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 5,664,830 <INCOME-PRETAX> (2,859,981) <INCOME-TAX> 0 <INCOME-CONTINUING> (2,859,981) <DISCONTINUED> 4,884,825 <EXTRAORDINARY> 1,653,096 <CHANGES> 0 <NET-INCOME> 3,677,940 <EPS-PRIMARY> 71.35 <EPS-DILUTED> 71.35