<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> SEP-30-1997 <CASH> 1,170,846 <SECURITIES> 415,098 <RECEIVABLES> 31,488,153 <ALLOWANCES> 117,042 <INVENTORY> 0 <CURRENT-ASSETS> 4,256,060 <PP&E> 27,467,711 <DEPRECIATION> 6,210,779 <TOTAL-ASSETS> 60,470,458 <CURRENT-LIABILITIES> 4,975,423 <BONDS> 41,131,286 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 358,665 <OTHER-SE> 11,141,044 <TOTAL-LIABILITY-AND-EQUITY> 60,470,458 <SALES> 0 <TOTAL-REVENUES> 10,573,596 <CGS> 0 <TOTAL-COSTS> 4,755,219 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,553,229 <INCOME-PRETAX> 2,074,692 <INCOME-TAX> 0 <INCOME-CONTINUING> 2,074,692 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,074,692 <EPS-PRIMARY> .58 <EPS-DILUTED> .58