<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 1,890,112 <SECURITIES> 0 <RECEIVABLES> 10,420 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 52,121,836 <DEPRECIATION> (20,933,129) <TOTAL-ASSETS> 34,589,648 <CURRENT-LIABILITIES> 0 <BONDS> 24,131,026 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 34,589,026 <SALES> 1,969,533 <TOTAL-REVENUES> 1,996,123 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,451,226 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 541,501 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 3,396 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 3,396 <EPS-PRIMARY> 0 <EPS-DILUTED> 0