<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 1,882,000 <SECURITIES> 0 <RECEIVABLES> 6,835,000 <ALLOWANCES> (562,000) <INVENTORY> 0 <CURRENT-ASSETS> 2,081,000 <PP&E> 42,730,000 <DEPRECIATION> (7,523,000) <TOTAL-ASSETS> 45,308,000 <CURRENT-LIABILITIES> 2,429,000 <BONDS> 33,466,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 37,068,000 <OTHER-SE> (30,989,000) <TOTAL-LIABILITY-AND-EQUITY> 45,308,000<F1> <SALES> 0 <TOTAL-REVENUES> 1,294,000 <CGS> 0 <TOTAL-COSTS> 2,458,000 <OTHER-EXPENSES> 79,000<F2> <LOSS-PROVISION> 562,000 <INTEREST-EXPENSE> 724,000 <INCOME-PRETAX> (1,243,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (1,243,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,243,000) <EPS-PRIMARY> (0.34) <EPS-DILUTED> (0.34) <FN> <F1>includes $3,334,000 of Minority Interest in Joint Venture <F2>represents Minority Interest portion of Current net loss. </FN>