<ARTICLE> 5 <PERIOD-TYPE> 12-mos <FISCAL-YEAR-END> dec-31-1997 <PERIOD-END> dec-31-1997 <CASH> 733,263 <SECURITIES> 0 <RECEIVABLES> 2,194,261 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 106,707,576 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 64,614,239 <TOTAL-LIABILITY-AND-EQUITY> 106,707,576 <SALES> 0 <TOTAL-REVENUES> 23,437,655 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 16,222,741 <LOSS-PROVISION> 1,801,707 <INTEREST-EXPENSE> 3,599,776 <INCOME-PRETAX> 1,813,431 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,813,431 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,813,431 <EPS-PRIMARY> 0 <EPS-DILUTED> 0