<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> DEC-31-1995 <CASH> 33,898 <SECURITIES> 0 <RECEIVABLES> 399,165 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 526,653 <PP&E> 108,788,000 <DEPRECIATION> 13,338,300 <TOTAL-ASSETS> 96,778,868 <CURRENT-LIABILITIES> 8,311,837 <BONDS> 82,552,733 <PREFERRED-MANDATORY> 0 <PREFERRED> 49,410 <COMMON> 3,150 <OTHER-SE> 3,995,721 <TOTAL-LIABILITY-AND-EQUITY> 96,778,868 <SALES> 0 <TOTAL-REVENUES> 8,557,297 <CGS> 0 <TOTAL-COSTS> 3,880,421 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 3,776,165 <INCOME-PRETAX> 900,711 <INCOME-TAX> 30,000 <INCOME-CONTINUING> 870,711 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 870,711 <EPS-PRIMARY> .11 <EPS-DILUTED> .11