<ARTICLE> 5 <PERIOD-TYPE> 12-mos <FISCAL-YEAR-END> dec-31-1998 <PERIOD-END> dec-31-1998 <CASH> 8,872,945 <SECURITIES> 0 <RECEIVABLES> 2,050,366 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 86,671,855 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 54,621,053 <TOTAL-LIABILITY-AND-EQUITY> 86,671,855 <SALES> 0 <TOTAL-REVENUES> 22,011,168 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 14,355,781 <LOSS-PROVISION> 55,409 <INTEREST-EXPENSE> 2,738,745 <INCOME-PRETAX> 4,861,233 <INCOME-TAX> 0 <INCOME-CONTINUING> 4,861,233 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 4,861,233 <EPS-PRIMARY> 0 <EPS-DILUTED> 0