<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 1,003,049 <SECURITIES> 0 <RECEIVABLES> 310,602 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 52,678,295 <DEPRECIATION> (22,916,080) <TOTAL-ASSETS> 32,519,040 <CURRENT-LIABILITIES> 0 <BONDS> 23,764,703 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 32,519,040 <SALES> 1,949,655 <TOTAL-REVENUES> 1,966,764 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,500,663 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 535,834 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> (69,733) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (69,733) <EPS-PRIMARY> 0 <EPS-DILUTED> 0