<ARTICLE> 5
<LEGEND>  This Schedule contains summary financial information extracted from
the consolidated balance sheets and consolidated statements of operation and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1
       
                        
<PERIOD-TYPE>              12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<CASH>                                      18,129,887
<SECURITIES>                                         0
<RECEIVABLES>                              124,706,499
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            29,165,376
<PP&E>                                     153,029,835
<DEPRECIATION>                              (2,707,390)
<TOTAL-ASSETS>                             384,970,658
<CURRENT-LIABILITIES>                       12,788,324
<BONDS>                                    137,176,790
<COMMON>                                       207,504
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                 231,417,319
<TOTAL-LIABILITY-AND-EQUITY>               384,970,658
<SALES>                                              0
<TOTAL-REVENUES>                            29,677,423
<CGS>                                                0
<TOTAL-COSTS>                                7,643,615
<OTHER-EXPENSES>                             5,062,895
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           4,599,309
<INCOME-PRETAX>                             12,294,054
<INCOME-TAX>                                 2,850,298
<INCOME-CONTINUING>                          9,443,756
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 9,443,756
<EPS-PRIMARY>                                     0.47
<EPS-DILUTED>                                     0.46