<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FORM 10-Q.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 APR-01-1998
<PERIOD-END>                                   JUN-30-1998
<CASH>                                         5,357,000
<SECURITIES>                                   874,000
<RECEIVABLES>                                  1,206,000
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               0
<PP&E>                                         147,446,000
<DEPRECIATION>                                 8,521,000
<TOTAL-ASSETS>                                 149,890,000
<CURRENT-LIABILITIES>                          0
<BONDS>                                        0
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       102,000
<OTHER-SE>                                     81,003,000
<TOTAL-LIABILITY-AND-EQUITY>                   149,890,000
<SALES>                                        5,937,000
<TOTAL-REVENUES>                               5,937,000
<CGS>                                          0
<TOTAL-COSTS>                                  0
<OTHER-EXPENSES>                               3,790,000
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             1,412,000
<INCOME-PRETAX>                                735,000
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            0
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   735,000
<EPS-PRIMARY>                                  .09
<EPS-DILUTED>                                  .08