<ARTICLE> 5
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               DEC-31-1999
<CASH>                                           2,376
<SECURITIES>                                         0
<RECEIVABLES>                                    1,928
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         714,768
<DEPRECIATION>                                  18,279
<TOTAL-ASSETS>                                 721,034
<CURRENT-LIABILITIES>                                0
<BONDS>                                        399,627
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                         22
<COMMON>                                           176
<OTHER-SE>                                     191,903
<TOTAL-LIABILITY-AND-EQUITY>                   721,034
<SALES>                                              0
<TOTAL-REVENUES>                                81,112
<CGS>                                                0
<TOTAL-COSTS>                                   34,400
<OTHER-EXPENSES>                                 3,204
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              22,783
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             20,725
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  (903)
<CHANGES>                                            0
<NET-INCOME>                                    15,083
<EPS-BASIC>                                       0.72
<EPS-DILUTED>                                     0.66