<ARTICLE> 5 <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> DEC-31-1995 <EXCHANGE-RATE> 1 <CASH> 33,898 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 108,788,000 <DEPRECIATION> 13,338,300 <TOTAL-ASSETS> 96,778,868 <CURRENT-LIABILITIES> 0 <BONDS> 87,825,287 <PREFERRED-MANDATORY> 0 <PREFERRED> 49,410 <COMMON> 700 <OTHER-SE> 3,998,171 <TOTAL-LIABILITY-AND-EQUITY> 96,778,868 <SALES> 0 <TOTAL-REVENUES> 8,373,769 <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> 17.88 <EPS-DILUTED> 0.48