<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<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
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             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>                                   (47)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                               (47)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                    697
<CHANGES>                                            0
<NET-INCOME>                                     1,423
<EPS-PRIMARY>                                      .33
<EPS-DILUTED>                                      .33