<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <CASH> 1,271,000 <SECURITIES> 0 <RECEIVABLES> 6,924,000 <ALLOWANCES> 136,000 <INVENTORY> 0 <CURRENT-ASSETS> 1,698,000 <PP&E> 70,575,000 <DEPRECIATION> (16,626,000) <TOTAL-ASSETS> 65,240,000 <CURRENT-LIABILITIES> 919,000 <BONDS> 47,675,000 <COMMON> 37,068,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (23,743,000) <TOTAL-LIABILITY-AND-EQUITY> 65,240,000<F1> <SALES> 0 <TOTAL-REVENUES> 3,051,000 <CGS> 0 <TOTAL-COSTS> 3,838,000 <OTHER-EXPENSES> 85,000<F2> <LOSS-PROVISION> 136,000 <INTEREST-EXPENSE> 1,810,000 <INCOME-PRETAX> (872,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (872,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (872,000) <EPS-PRIMARY> (0.24) <EPS-DILUTED> (0.24) <FN> <F1>Includes $3,321,000 of minority interest in joint venture <F2>Represents minority interest portion of current net income </FN>