<ARTICLE> 5 <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <EXCHANGE-RATE> 1 <CASH> 465,269 <SECURITIES> 0 <RECEIVABLES> 26,775 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 23,157,969 <DEPRECIATION> (3,826,732) <TOTAL-ASSETS> 32,553,258 <CURRENT-LIABILITIES> 0 <BONDS> 20,691,666 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 7,725,892 <TOTAL-LIABILITY-AND-EQUITY> 32,553,258 <SALES> 0 <TOTAL-REVENUES> 1,528,869 <CGS> 0 <TOTAL-COSTS> 1,161,568 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 477,176 <INCOME-PRETAX> (109,875) <INCOME-TAX> 0 <INCOME-CONTINUING> (109,875) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (109,875) <EPS-PRIMARY> (5.83) <EPS-DILUTED> (5.83)