<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 1,421 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> (1,194) <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 283,791 <DEPRECIATION> (48,134) <TOTAL-ASSETS> 270,023 <CURRENT-LIABILITIES> 0 <BONDS> 189,938 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 69,910 <TOTAL-LIABILITY-AND-EQUITY> 270,023 <SALES> 0 <TOTAL-REVENUES> 14,256 <CGS> 0 <TOTAL-COSTS> 7,406 <OTHER-EXPENSES> 2,532 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 3,732 <INCOME-PRETAX> 131 <INCOME-TAX> 0 <INCOME-CONTINUING> 131 <DISCONTINUED> 0 <EXTRAORDINARY> (262) <CHANGES> 0 <NET-INCOME> (131) <EPS-PRIMARY> (.03) <EPS-DILUTED> (.03)