<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <CASH> 496,000 <SECURITIES> 0 <RECEIVABLES> 9,790,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,561,000 <PP&E> 53,346,000 <DEPRECIATION> (16,497,000) <TOTAL-ASSETS> 47,081,000 <CURRENT-LIABILITIES> 316,000 <BONDS> 32,959,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 37,068,000 <OTHER-SE> (26,607,000) <TOTAL-LIABILITY-AND-EQUITY> 47,081,000<F2> <SALES> 0 <TOTAL-REVENUES> 3,644,000 <CGS> 0 <TOTAL-COSTS> 3,728,000<F1> <OTHER-EXPENSES> 204,000<F3> <LOSS-PROVISION> 230,000 <INTEREST-EXPENSE> 1,895,000 <INCOME-PRETAX> (288,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (288,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (288,000) <EPS-PRIMARY> (.08) <EPS-DILUTED> (.08) <FN> <F3>Represents Minority Intrest Portion of Current Net Income/(loss) <F2>Includes $3,345,000 of Minority Intrest in Joint Venture <F1>Includes a gain from the Sale of a Property of $792,000 </FN>