<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <CASH> 458,925 <SECURITIES> 0 <RECEIVABLES> 1,360,521 <ALLOWANCES> 88,193 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 93,565,276 <DEPRECIATION> (44,949,079) <TOTAL-ASSETS> 109,858,396 <CURRENT-LIABILITIES> 6,119,491 <BONDS> 54,739,238 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 48,999,667 <TOTAL-LIABILITY-AND-EQUITY> 109,858,396 <SALES> 0 <TOTAL-REVENUES> 9,168,839 <CGS> 0 <TOTAL-COSTS> 19,589,610 <OTHER-EXPENSES> (33,994) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,075,042 <INCOME-PRETAX> (1,239,842) <INCOME-TAX> 0 <INCOME-CONTINUING> (1,239,842) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,239,842) <EPS-PRIMARY> (4.70) <EPS-DILUTED> (4.70)