<ARTICLE>                                            5

                        
<PERIOD-TYPE>              3-MOS
<FISCAL-YEAR-END>                           DEC-31-1999
<PERIOD-END>                                JUN-30-2000
<CASH>                                                                3,445,125
<SECURITIES>                                                                  0
<RECEIVABLES>                                                         3,767,603
<ALLOWANCES>                                                                  0
<INVENTORY>                                                                   0
<CURRENT-ASSETS>                                                              0
<PP&E>                                                              125,100,974
<DEPRECIATION>                                                        1,715,455
<TOTAL-ASSETS>                                                      135,262,274
<CURRENT-LIABILITIES>                                                         0
<BONDS>                                                                       0
<PREFERRED-MANDATORY>                                                         0
<PREFERRED>                                                                   0
<COMMON>                                                             41,885,295
<OTHER-SE>                                                            (202,419)
<TOTAL-LIABILITY-AND-EQUITY>                                        135,262,274
<SALES>                                                                       0
<TOTAL-REVENUES>                                                      7,389,420
<CGS>                                                                         0
<TOTAL-COSTS>                                                         6,193,661
<OTHER-EXPENSES>                                                              0
<LOSS-PROVISION>                                                              0
<INTEREST-EXPENSE>                                                    3,059,738
<INCOME-PRETAX>                                                       1,195,759
<INCOME-TAX>                                                                  0
<INCOME-CONTINUING>                                                   1,195,759
<DISCONTINUED>                                                                0
<EXTRAORDINARY>                                                               0
<CHANGES>                                                                     0
<NET-INCOME>                                                          1,195,759
<EPS-BASIC>                                                                 .31
<EPS-DILUTED>                                                               .31
<FN>
Current  Assets and  Current  Liabilities  are not  separated  to  conform  with
industry standards.
Income is from rental income. There are no Sales or Cost of Goods Sold.
</FN>