<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> DEC-31-1996 <CASH> 1,144,427 <SECURITIES> 2,320,432 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,400,268 <PP&E> 63,081,717 <DEPRECIATION> 15,329,988 <TOTAL-ASSETS> 53,583,381 <CURRENT-LIABILITIES> 1,350,276 <BONDS> 30,025,487 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 22,207,618 <TOTAL-LIABILITY-AND-EQUITY> 53,583,381 <SALES> 0 <TOTAL-REVENUES> 11,250,156 <CGS> 0 <TOTAL-COSTS> 8,909,937 <OTHER-EXPENSES> 1,778,930 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 165,347 <INCOME-PRETAX> 395,975 <INCOME-TAX> 0 <INCOME-CONTINUING> 395,975 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 395,975 <EPS-PRIMARY> .12 <EPS-DILUTED> 0