<ARTICLE> 5 <LEGEND> Unaudited. </LEGEND> <MULTIPLIER> 1 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <CASH> 579,160 <SECURITIES> 1,940,299 <RECEIVABLES> 117,288 <ALLOWANCES> 42,950 <INVENTORY> 0 <CURRENT-ASSETS> 1,227,116 <PP&E> 38,079,083 <DEPRECIATION> 11,026,631 <TOTAL-ASSETS> 30,219,867 <CURRENT-LIABILITIES> 2,442,013 <BONDS> 27,553,670 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 30,219,867 <SALES> 0 <TOTAL-REVENUES> 1,531,180 <CGS> 0 <TOTAL-COSTS> 729,588 <OTHER-EXPENSES> 310,871 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 610,819 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (120,098) <EPS-PRIMARY> (2.22) <EPS-DILUTED> 0