<ARTICLE> 5 <LEGEND> Unaudited. </LEGEND> <MULTIPLIER> 1 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <CASH> 470,539 <SECURITIES> 1,938,799 <RECEIVABLES> 119,991 <ALLOWANCES> 47,300 <INVENTORY> 0 <CURRENT-ASSETS> 1,164,098 <PP&E> 37,724,758 <DEPRECIATION> 9,823,539 <TOTAL-ASSETS> 31,004,116 <CURRENT-LIABILITIES> 2,248,244 <BONDS> 28,527,286 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 31,004,116 <SALES> 0 <TOTAL-REVENUES> 1,455,176 <CGS> 0 <TOTAL-COSTS> 685,673 <OTHER-EXPENSES> 341,824 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 594,670 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (166,991) <EPS-PRIMARY> (3.08) <EPS-DILUTED> 0