<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> MAR-31-1999 <CASH> 21,887 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 105,048 <PP&E> 3,961,017 <DEPRECIATION> 308,397 <TOTAL-ASSETS> 3,779,555 <CURRENT-LIABILITIES> 132,357 <BONDS> 2,174,512 <PREFERRED-MANDATORY> 0 <PREFERRED> 430,000 <COMMON> 104,071 <OTHER-SE> 828,442 <TOTAL-LIABILITY-AND-EQUITY> 3,779,555 <SALES> 153,791 <TOTAL-REVENUES> 154,238 <CGS> 0 <TOTAL-COSTS> 61,259 <OTHER-EXPENSES> 33,959 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 38,079 <INCOME-PRETAX> 20,082 <INCOME-TAX> 0 <INCOME-CONTINUING> 20,082 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 20,082 <EPS-PRIMARY> .10 <EPS-DILUTED> .10