<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 10,303,446 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 10,303,446 <PP&E> 31,953,418 <DEPRECIATION> 0 <TOTAL-ASSETS> 42,256,864 <CURRENT-LIABILITIES> 134,409 <BONDS> 1,142,731 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 40,979,724 <TOTAL-LIABILITY-AND-EQUITY> 42,256,864 <SALES> 1,042,035 <TOTAL-REVENUES> 1,176,911 <CGS> 354,269 <TOTAL-COSTS> 354,269 <OTHER-EXPENSES> 375,982 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 446,660 <INCOME-TAX> 0 <INCOME-CONTINUING> 446,660 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 446,660 <EPS-PRIMARY> 5.37 <EPS-DILUTED> 5.37