<ARTICLE> 5 <LEGEND> Unaudited. </LEGEND> <MULTIPLIER> 1 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 501,181 <SECURITIES> 1,979,275 <RECEIVABLES> 71,672 <ALLOWANCES> (46,150) <INVENTORY> 0 <CURRENT-ASSETS> 1,293,615 <PP&E> 38,280,806 <DEPRECIATION> 11,627,704 <TOTAL-ASSETS> 29,925,992 <CURRENT-LIABILITIES> 2,045,550 <BONDS> 27,548,466 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 29,925,992 <SALES> 0 <TOTAL-REVENUES> 4,646,628 <CGS> 0 <TOTAL-COSTS> 2,268,137 <OTHER-EXPENSES> 950,548 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,792,476 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (12,306) <EPS-PRIMARY> (0.23) <EPS-DILUTED> 0