<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-END> DEC-31-1994 <CASH> 20,151,000 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 967,718,000 <DEPRECIATION> 28,274,000 <TOTAL-ASSETS> 820,309,000 <CURRENT-LIABILITIES> 0 <BONDS> 0 <COMMON> 2,883,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 222,775,000 <OTHER-SE> 362,128,000 <TOTAL-LIABILITY-AND-EQUITY> 820,309,000 <SALES> 0 <TOTAL-REVENUES> 147,196,000 <CGS> 0 <TOTAL-COSTS> 81,090,000 <OTHER-EXPENSES> 7,614,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,893,000 <INCOME-PRETAX> 42,118,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 42,118,000 <EPS-PRIMARY> 1.05 <EPS-DILUTED> 1.07