<ARTICLE> 5 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <CASH> 1,279,558 <SECURITIES> 000 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 29,270,616 <DEPRECIATION> (11,874,334) <TOTAL-ASSETS> 18,919,780 <CURRENT-LIABILITIES> 000 <BONDS> 11,769,703 <COMMON> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <OTHER-SE> 6,697,983 <TOTAL-LIABILITY-AND-EQUITY> 18,919,780 <SALES> 000 <TOTAL-REVENUES> 4,327,837 <CGS> 000 <TOTAL-COSTS> 2,222,474 <OTHER-EXPENSES> 1,187,367 <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 920,596 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (2,600) <EPS-PRIMARY> (.03) <EPS-DILUTED> (.03)