<ARTICLE> 5 <PERIOD-TYPE> 6-mos <FISCAL-YEAR-END> dec-31-1997 <PERIOD-START> jan-01-1997 <PERIOD-END> jun-30-1997 <CASH> 565,012 <SECURITIES> 0 <RECEIVABLES> 722,075 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 30,842,277 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 28,187,583 <TOTAL-LIABILITY-AND-EQUITY> 30,842,277 <SALES> 0 <TOTAL-REVENUES> 2,992,141 <CGS> 0 <TOTAL-COSTS> 2,502,041 <OTHER-EXPENSES> 145,157 <LOSS-PROVISION> 14,738 <INTEREST-EXPENSE> 408,356 <INCOME-PRETAX> (78,151) <INCOME-TAX> 0 <INCOME-CONTINUING> (78,151) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (78,151) <EPS-PRIMARY> 0 <EPS-DILUTED> 0