<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Registrant's audited financial statements incorporated by reference to the
accompanying Form 10-K and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-START>                             JAN-01-1994
<PERIOD-END>                               DEC-31-1994
<CASH>                                          59,766
<SECURITIES>                                         0
<RECEIVABLES>                                    4,712
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                64,478
<PP&E>                                         673,083
<DEPRECIATION>                                  39,570
<TOTAL-ASSETS>                                 840,206
<CURRENT-LIABILITIES>                           17,854
<BONDS>                                        216,513
<COMMON>                                           574
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     601,465
<TOTAL-LIABILITY-AND-EQUITY>                   840,206
<SALES>                                              0
<TOTAL-REVENUES>                                86,683
<CGS>                                                0
<TOTAL-COSTS>                                   19,840
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                              (10,000)
<INTEREST-EXPENSE>                               8,965
<INCOME-PRETAX>                                 51,872
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             57,878
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                (1,953)
<CHANGES>                                            0
<NET-INCOME>                                    49,919
<EPS-PRIMARY>                                      .95
<EPS-DILUTED>                                        0