<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <CASH> 2,137,000 <SECURITIES> 0 <RECEIVABLES> 2,987,000 <ALLOWANCES> 352,000 <INVENTORY> 0 <CURRENT-ASSETS> 7,332,000 <PP&E> 264,682,000 <DEPRECIATION> 23,119,000 <TOTAL-ASSETS> 277,608,000 <CURRENT-LIABILITIES> 46,943,000 <BONDS> 124,759,000 <COMMON> 89,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 104,708,000 <TOTAL-LIABILITY-AND-EQUITY> 277,608,000 <SALES> 0 <TOTAL-REVENUES> 10,520,000 <CGS> 0 <TOTAL-COSTS> 5,770,000 <OTHER-EXPENSES> 504,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 3,551,000 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 695,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 695,000 <EPS-PRIMARY> .08 <EPS-DILUTED> 0