<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 6,871,612 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,871,612 <PP&E> 30,775,170 <DEPRECIATION> 0 <TOTAL-ASSETS> 37,646,782 <CURRENT-LIABILITIES> 160,734 <BONDS> 4,240,202 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 33,245,846 <TOTAL-LIABILITY-AND-EQUITY> 37,646,782 <SALES> 1,122,281 <TOTAL-REVENUES> 1,209,393 <CGS> 373,781 <TOTAL-COSTS> 373,781 <OTHER-EXPENSES> 311,292 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 524,320 <INCOME-TAX> 0 <INCOME-CONTINUING> 524,320 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 524,320 <EPS-PRIMARY> 5.46 <EPS-DILUTED> 5.46