<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 1996 AND THE
CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 1996 AS CONTAINED IN THE COMPANY'S
10-K FOR DECEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
10-K.
</LEGEND>
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLAR
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<CASH>                                       6,218,327
<SECURITIES>                                         0
<RECEIVABLES>                                7,842,568
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     339,410,672
<DEPRECIATION>                            (51,342,953)
<TOTAL-ASSETS>                             309,126,114
<CURRENT-LIABILITIES>                                0
<BONDS>                                    188,197,207
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           943
<OTHER-SE>                                  92,658,204
<TOTAL-LIABILITY-AND-EQUITY>               309,126,114
<SALES>                                              0
<TOTAL-REVENUES>                            31,675,355
<CGS>                                                0
<TOTAL-COSTS>                                8,313,432
<OTHER-EXPENSES>                               619,362
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                          12,817,528
<INCOME-PRETAX>                              6,155,886
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          5,465,824
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 5,465,824
<EPS-PRIMARY>                                     0.58
<EPS-DILUTED>                                     0.58