<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THIRD
QUARTER FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                      11,433,318
<SECURITIES>                                         0
<RECEIVABLES>                                2,011,572
<ALLOWANCES>                                   973,638
<INVENTORY>                                          0
<CURRENT-ASSETS>                            13,482,809
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              56,215,558
<CURRENT-LIABILITIES>                        8,660,374
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                56,215,558
<SALES>                                              0
<TOTAL-REVENUES>                            17,659,188
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                            19,522,067
<LOSS-PROVISION>                               543,074
<INTEREST-EXPENSE>                           3,580,896
<INCOME-PRETAX>                            (1,862,879)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (1,862,879)
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0