<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM (A) THE CONSOLIDATED BALANCE AT MARCH 31, 1998 AND THE CONSOLIDATED STATEMENT OF OPERATIONS FOR THE QUARTER ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH (B) FIRST QUARTER FILING ON FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 1998. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 2,892 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 1,506,470 <DEPRECIATION> 88,762 <TOTAL-ASSETS> 1,447,464 <CURRENT-LIABILITIES> 0 <BONDS> 605,191 <PREFERRED-MANDATORY> 0 <PREFERRED> 83 <COMMON> 262 <OTHER-SE> 793,570 <TOTAL-LIABILITY-AND-EQUITY> 1,447,464 <SALES> 43,666 <TOTAL-REVENUES> 45,385 <CGS> 0 <TOTAL-COSTS> 26,157 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,249 <INCOME-PRETAX> 12,979 <INCOME-TAX> 0 <INCOME-CONTINUING> 12,979 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 12,979 <EPS-PRIMARY> 0.34 <EPS-DILUTED> 0.34