<ARTICLE> 5 <PERIOD-TYPE> 6-mos <FISCAL-YEAR-END> dec-31-1997 <PERIOD-START> jan-01-1997 <PERIOD-END> jun-30-1997 <CASH> 2,044,370 <SECURITIES> 0 <RECEIVABLES> 1,848,662 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 119,551,807 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 71,343,091 <TOTAL-LIABILITY-AND-EQUITY> 119,551,807 <SALES> 0 <TOTAL-REVENUES> 11,856,429 <CGS> 0 <TOTAL-COSTS> 7,882,198 <OTHER-EXPENSES> 302,003 <LOSS-PROVISION> 118,564 <INTEREST-EXPENSE> 1,885,260 <INCOME-PRETAX> 1,668,404 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,668,404 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,668,404 <EPS-PRIMARY> 0 <EPS-DILUTED> 0