<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> MAR-31-1999 <CASH> 2,578,880 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,578,880 <PP&E> 5,870,088 <DEPRECIATION> 0 <TOTAL-ASSETS> 8,448,968 <CURRENT-LIABILITIES> 142,264 <BONDS> 1,369,577 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 6,937,127 <TOTAL-LIABILITY-AND-EQUITY> 8,448,968 <SALES> 234,793 <TOTAL-REVENUES> 276,942 <CGS> 54,451 <TOTAL-COSTS> 54,451 <OTHER-EXPENSES> 102,795 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 119,696 <INCOME-TAX> 0 <INCOME-CONTINUING> 119,696 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 119,696 <EPS-PRIMARY> 2.43 <EPS-DILUTED> 2.43