<ARTICLE> 5 <MULTIPLIER> 1 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-1-1998 <PERIOD-END> MAR-31-1998 <CASH> 933,593 <SECURITIES> 2,073,995 <RECEIVABLES> 186,529 <ALLOWANCES> 142,367 <INVENTORY> 0 <CURRENT-ASSETS> 1,625,474 <PP&E> 38,652,190 <DEPRECIATION> 13,437,523 <TOTAL-ASSETS> 28,914,136 <CURRENT-LIABILITIES> 2,286,991 <BONDS> 27,432,422 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 28,914,136 <SALES> 0 <TOTAL-REVENUES> 1,269,086 <CGS> 0 <TOTAL-COSTS> 639,423 <OTHER-EXPENSES> 272,144 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 478,180 <INCOME-PRETAX> (120,661) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (120,661) <EPS-BASIC> (2.28) <EPS-DILUTED> 0