<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                           DEC-31-1996
<PERIOD-START>                               JAN-1-1996
<PERIOD-END>                                MAR-31-1996
<CASH>                                           11,670
<SECURITIES>                                      5,756
<RECEIVABLES>                                     8,842
<ALLOWANCES>                                      6,305
<INVENTORY>                                           0
<CURRENT-ASSETS>                                      0
<PP&E>                                          211,337
<DEPRECIATION>                                   18,259
<TOTAL-ASSETS>                                  224,636
<CURRENT-LIABILITIES>                                 0
<BONDS>                                         141,717
<COMMON>                                              0
<PREFERRED-MANDATORY>                                 0
<PREFERRED>                                           0
<OTHER-SE>                                       76,557
<TOTAL-LIABILITY-AND-EQUITY>                    224,636
<SALES>                                               0
<TOTAL-REVENUES>                                 10,707
<CGS>                                                 0
<TOTAL-COSTS>                                     6,210
<OTHER-EXPENSES>                                  1,137
<LOSS-PROVISION>                                      0
<INTEREST-EXPENSE>                                2,927
<INCOME-PRETAX>                                   1,423
<INCOME-TAX>                                          0
<INCOME-CONTINUING>                               1,423
<DISCONTINUED>                                        0
<EXTRAORDINARY>                                       0
<CHANGES>                                             0
<NET-INCOME>                                      1,423
<EPS-PRIMARY>                                       .33
<EPS-DILUTED>                                       .33