<ARTICLE> 5 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> OCT-31-1996 <PERIOD-START> NOV-01-1995 <PERIOD-END> OCT-31-1996 <CASH> 667,934 <SECURITIES> 0 <RECEIVABLES> 42,918 <ALLOWANCES> 77,727 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 6,535,765 <DEPRECIATION> (557,822) <TOTAL-ASSETS> 6,749,551 <CURRENT-LIABILITIES> 0 <BONDS> 5,755,906 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 6,749,551 <SALES> 0 <TOTAL-REVENUES> 1,192,846 <CGS> 0 <TOTAL-COSTS> 1,177,982 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 550,891 <INCOME-PRETAX> 14,864 <INCOME-TAX> 0 <INCOME-CONTINUING> 14,864 <DISCONTINUED> 0 <EXTRAORDINARY> (20,402) <CHANGES> 0 <NET-INCOME> (5,538) <EPS-PRIMARY> 0 <EPS-DILUTED> 0