<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 801,000 <SECURITIES> 0 <RECEIVABLES> 3,239,000 <ALLOWANCES> 369,000 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 313,490,000 <DEPRECIATION> 48,776,000 <TOTAL-ASSETS> 277,354,000 <CURRENT-LIABILITIES> 39,584,000 <BONDS> 153,221,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 90,000 <OTHER-SE> 83,391,000 <TOTAL-LIABILITY-AND-EQUITY> 277,354,000 <SALES> 0 <TOTAL-REVENUES> 11,777,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 7,480,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 3,647,000 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 664,000 <EPS-PRIMARY> 0.08 <EPS-DILUTED> 0.08