<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> SEP-30-1998 <CASH> 28,485 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 68,301 <PP&E> 3,099,553 <DEPRECIATION> 269,659 <TOTAL-ASSETS> 2,926,680 <CURRENT-LIABILITIES> 113,069 <BONDS> 1,548,898 <PREFERRED-MANDATORY> 0 <PREFERRED> 255,000 <COMMON> 103,207 <OTHER-SE> 861,342 <TOTAL-LIABILITY-AND-EQUITY> 2,926,680 <SALES> 346,171 <TOTAL-REVENUES> 348,906 <CGS> 0 <TOTAL-COSTS> 143,209 <OTHER-EXPENSES> 83,116 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 75,784 <INCOME-PRETAX> 66,071 <INCOME-TAX> 0 <INCOME-CONTINUING> 66,071 <DISCONTINUED> 0 <EXTRAORDINARY> 116 <CHANGES> 0 <NET-INCOME> 65,955 <EPS-PRIMARY> .50 <EPS-DILUTED> .50