<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>              3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                      22,087,769
<SECURITIES>                                         0 
<RECEIVABLES>                               99,315,649
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            34,133,556
<PP&E>                                     164,723,671
<DEPRECIATION>                             (3,725,550)
<TOTAL-ASSETS>                             403,203,537
<CURRENT-LIABILITIES>                        9,781,714
<BONDS>                                    154,945,129
<COMMON>                                       207,504
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                 234,059,341
<TOTAL-LIABILITY-AND-EQUITY>               403,203,537
<SALES>                                              0
<TOTAL-REVENUES>                             8,968,461
<CGS>                                                0
<TOTAL-COSTS>                                2,607,781
<OTHER-EXPENSES>                               974,907
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           1,906,652
<INCOME-PRETAX>                              3,471,249
<INCOME-TAX>                                   863,000
<INCOME-CONTINUING>                          2,608,249
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,608,249
<EPS-PRIMARY>                                     0.13
<EPS-DILUTED>                                     0.13