<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 167,201 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 161,643,257 <DEPRECIATION> 23,313,000 <TOTAL-ASSETS> 143,120,069 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 49,410 <COMMON> 0 <OTHER-SE> 811 <TOTAL-LIABILITY-AND-EQUITY> 143,120,069 <SALES> 10,527,731 <TOTAL-REVENUES> 10,740,940 <CGS> 0 <TOTAL-COSTS> 5,099,678 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 5,055,478 <INCOME-PRETAX> 585,784 <INCOME-TAX> 226,600 <INCOME-CONTINUING> 359,184 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 359,184 <EPS-PRIMARY> 0.20 <EPS-DILUTED> 0.20