<ARTICLE> 5 <PERIOD-TYPE> 12-mos <FISCAL-YEAR-END> dec-31-1998 <PERIOD-END> dec-31-1998 <CASH> 1,576,029 <SECURITIES> 0 <RECEIVABLES> 6,380,886 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 212,456,902 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 119,711,246 <TOTAL-LIABILITY-AND-EQUITY> 212,456,902 <SALES> 0 <TOTAL-REVENUES> 37,195,090 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 26,385,159 <LOSS-PROVISION> 56,955 <INTEREST-EXPENSE> 5,473,480 <INCOME-PRETAX> 5,279,496 <INCOME-TAX> 0 <INCOME-CONTINUING> 5,279,496 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 5,279,496 <EPS-PRIMARY> 0 <EPS-DILUTED> 0