<ARTICLE>                     5
<LEGEND>
This  Schedule  contains  summary  financial   information  extracted  from  the
financial  statements contained in the body of the accompanying Form 10-Q and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER>                                   1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-END>                                   MAR-31-1999 
<CASH>                                               4,015 
<SECURITIES>                                             0 
<RECEIVABLES>                                            0 
<ALLOWANCES>                                             0 
<INVENTORY>                                              0 
<CURRENT-ASSETS>                                         0 
<PP&E>                                                   0 
<DEPRECIATION>                                           0 
<TOTAL-ASSETS>                                      28,672 
<CURRENT-LIABILITIES>                                    0 
<BONDS>                                             20,320 
<PREFERRED-MANDATORY>                                    0 
<PREFERRED>                                              0 
<COMMON>                                               100 
<OTHER-SE>                                         (9,409) 
<TOTAL-LIABILITY-AND-EQUITY>                        28,672 
<SALES>                                              2,250 
<TOTAL-REVENUES>                                     2,302 
<CGS>                                                2,218 
<TOTAL-COSTS>                                        2,218 
<OTHER-EXPENSES>                                       649 
<LOSS-PROVISION>                                       255 
<INTEREST-EXPENSE>                                     584 
<INCOME-PRETAX>                                     (1,404)
<INCOME-TAX>                                             8 
<INCOME-CONTINUING>                                 (1,412)
<DISCONTINUED>                                           0 
<EXTRAORDINARY>                                          0 
<CHANGES>                                                0 
<NET-INCOME>                                        (1,412)
<EPS-PRIMARY>                                         (.14)
<EPS-DILUTED>                                         (.14)