<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> JUN-30-1998 <PERIOD-END> JUN-30-1998 <CASH> 11,575 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 97,796 <PP&E> 2,962,632 <DEPRECIATION> 242,803 <TOTAL-ASSETS> 2,829,200 <CURRENT-LIABILITIES> 102,952 <BONDS> 1,451,129 <PREFERRED-MANDATORY> 0 <PREFERRED> 255,000 <COMMON> 101,988 <OTHER-SE> 866,456 <TOTAL-LIABILITY-AND-EQUITY> 2,829,200 <SALES> 222,275 <TOTAL-REVENUES> 224,434 <CGS> 0 <TOTAL-COSTS> 90,272 <OTHER-EXPENSES> 52,635 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 48,561 <INCOME-PRETAX> 52,189 <INCOME-TAX> 0 <INCOME-CONTINUING> 52,189 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 52,189 <EPS-PRIMARY> .42 <EPS-DILUTED> .42