<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 3,456,079 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 6,823,224 <DEPRECIATION> (1,177,733) <TOTAL-ASSETS> 13,804,037 <CURRENT-LIABILITIES> 0 <BONDS> 2,750,096 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 13,804,037 <SALES> 362,907 <TOTAL-REVENUES> 496,055 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 367,471 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 62,881 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 65,703 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 65,703 <EPS-PRIMARY> 0 <EPS-DILUTED> 0