<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS 
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                      15,986,049
<SECURITIES>                                         0
<RECEIVABLES>                               11,727,020
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     369,551,017
<DEPRECIATION>                              61,854,694
<TOTAL-ASSETS>                             368,432,501
<CURRENT-LIABILITIES>                                0
<BONDS>                                    327,553,944
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         8,000
<OTHER-SE>                                  22,957,901
<TOTAL-LIABILITY-AND-EQUITY>               368,432,501
<SALES>                                              0
<TOTAL-REVENUES>                           128,270,779
<CGS>                                                0
<TOTAL-COSTS>                               76,949,952
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                          31,572,501
<INCOME-PRETAX>                              1,175,017
<INCOME-TAX>                                   487,761
<INCOME-CONTINUING>                            687,256
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   687,256
<EPS-PRIMARY>                                     0.86
<EPS-DILUTED>                                     0.86