<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted fromthe Form
10-QSB Consolidated Balance Sheet as of March 31, 1996 and the Consolidated
Statement of Earnings for the Three Month Period Ended March 31, 1996 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER>   1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                           5,642
<SECURITIES>                                         0
<RECEIVABLES>                                      584
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 7,862
<PP&E>                                          58,391
<DEPRECIATION>                                     268
<TOTAL-ASSETS>                                  89,268
<CURRENT-LIABILITIES>                            5,604
<BONDS>                                         36,563
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        266
<COMMON>                                            35
<OTHER-SE>                                      42,222
<TOTAL-LIABILITY-AND-EQUITY>                    89,268
<SALES>                                              0
<TOTAL-REVENUES>                                   899
<CGS>                                                0
<TOTAL-COSTS>                                       73
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  26
<INCOME-PRETAX>                                     76
<INCOME-TAX>                                        29
<INCOME-CONTINUING>                                 47
<DISCONTINUED>                                     580
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       627
<EPS-PRIMARY>                                     0.17
<EPS-DILUTED>                                        0