<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-2000 <PERIOD-START> JAN-01-2000 <PERIOD-END> MAR-31-2000 <CASH> 41,710 <SECURITIES> 95 <RECEIVABLES> 21,053 <ALLOWANCES> 1,500 <INVENTORY> 0 <CURRENT-ASSETS> 61,358 <PP&E> 1,664,350 <DEPRECIATION> 13,737 <TOTAL-ASSETS> 3,896,540 <CURRENT-LIABILITIES> 57,379 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 11 <COMMON> 85 <OTHER-SE> 1,849,106 <TOTAL-LIABILITY-AND-EQUITY> 3,896,540 <SALES> 0 <TOTAL-REVENUES> 110,888 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 19,785 <LOSS-PROVISION> 1,500 <INTEREST-EXPENSE> 37,789 <INCOME-PRETAX> 51,814 <INCOME-TAX> 0 <INCOME-CONTINUING> 52,306 <DISCONTINUED> 0 <EXTRAORDINARY> 317 <CHANGES> 0 <NET-INCOME> 51,989 <EPS-BASIC> 0.50 <EPS-DILUTED> 0.50