<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 2,499,417 <SECURITIES> 0 <RECEIVABLES> 77,260 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 4,120,638 <DEPRECIATION> (1,115,687) <TOTAL-ASSETS> 12,285,891 <CURRENT-LIABILITIES> 0 <BONDS> 2,704,067 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 9,249,762 <TOTAL-LIABILITY-AND-EQUITY> 12,285,891 <SALES> 330,636 <TOTAL-REVENUES> 450,583 <CGS> 203,327 <TOTAL-COSTS> 288,914 <OTHER-EXPENSES> 96,196 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 62,131 <INCOME-PRETAX> 3,342 <INCOME-TAX> 0 <INCOME-CONTINUING> 3,342 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 3,342 <EPS-PRIMARY> 0 <EPS-DILUTED> 0