<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                           2,567
<SECURITIES>                                         0
<RECEIVABLES>                                      834
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 5,676
<PP&E>                                         333,036
<DEPRECIATION>                                  11,639
<TOTAL-ASSETS>                                 327,073
<CURRENT-LIABILITIES>                           50,319
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           122
<OTHER-SE>                                     263,789
<TOTAL-LIABILITY-AND-EQUITY>                   327,073
<SALES>                                              0
<TOTAL-REVENUES>                                49,354
<CGS>                                                0
<TOTAL-COSTS>                                   13,663
<OTHER-EXPENSES>                                10,406
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,166
<INCOME-PRETAX>                                 23,119
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             23,119
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    23,119
<EPS-PRIMARY>                                     1.97
<EPS-DILUTED>                                     1.96