<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                       1,558,000
<SECURITIES>                                   930,000
<RECEIVABLES>                                  747,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             3,235,000
<PP&E>                                      34,619,000<F1>
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              37,854,000
<CURRENT-LIABILITIES>                          286,000
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    37,568,000
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                37,854,000
<SALES>                                      1,154,000<F2>
<TOTAL-REVENUES>                             1,154,000
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               443,000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                711,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            711,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   711,000
<EPS-PRIMARY>                                     0.25
<EPS-DILUTED>                                     0.25
<FN>
<F1>Includes mortgage and promissory notes of $31,719,000.
<F2>Includes gain on sale of real estate of $184,000 and recovery of bad debt of
    $186,000.
</FN>