<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                       4,789,000
<SECURITIES>                                         0
<RECEIVABLES>                               18,247,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     802,704,000
<DEPRECIATION>                            (39,566,000)
<TOTAL-ASSETS>                             804,567,000
<CURRENT-LIABILITIES>                                0
<BONDS>                                    293,088,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      3,000
<COMMON>                                       375,000
<OTHER-SE>                                 472,289,000
<TOTAL-LIABILITY-AND-EQUITY>               804,567,000
<SALES>                                              0
<TOTAL-REVENUES>                            23,687,000
<CGS>                                                0
<TOTAL-COSTS>                               12,552,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           4,595,000
<INCOME-PRETAX>                              6,597,000
<INCOME-TAX>                                 6,597,000
<INCOME-CONTINUING>                          6,597,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 6,597,000
<EPS-PRIMARY>                                     0.17<F1>
<EPS-DILUTED>                                     0.17
<FN>
<F1>FOR THE PURPOSES OF THIS EXHIBIT, PRIMARY MEANS BASIC
</FN>