<ARTICLE>    5
<MULTIPLIER> 1,000
       
                          
<PERIOD-TYPE>                3-MOS
<FISCAL-YEAR-END>                    DEC-31-1997
<PERIOD-START>                       JAN-01-1997
<PERIOD-END>                         MAR-31-1997
<CASH>                                        56
<SECURITIES>                                   0
<RECEIVABLES>                                  0
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               0
<PP&E>                                         0
<DEPRECIATION>                                 0
<TOTAL-ASSETS>                            23,913
<CURRENT-LIABILITIES>                          0
<BONDS>                                        0
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                      17
<OTHER-SE>                             (170,730)
<TOTAL-LIABILITY-AND-EQUITY>              23,913
<SALES>                                        0
<TOTAL-REVENUES>                             328
<CGS>                                          0
<TOTAL-COSTS>                                  0
<OTHER-EXPENSES>                              57
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                         3,327
<INCOME-PRETAX>                          (3,056)
<INCOME-TAX>                                   2
<INCOME-CONTINUING>                      (3,058)
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                             (3,058)
<EPS-PRIMARY>                             (1.77)
<EPS-DILUTED>                             (1.77)