<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> SEP-30-1996 <CASH> 7,803 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 35,826 <PP&E> 1,491,511 <DEPRECIATION> 159,429 <TOTAL-ASSETS> 1,375,711 <CURRENT-LIABILITIES> 49,091 <BONDS> 795,894 <PREFERRED-MANDATORY> 0 <PREFERRED> 105,000 <COMMON> 58,744 <OTHER-SE> 364,952 <TOTAL-LIABILITY-AND-EQUITY> 1,375,711 <SALES> 175,119 <TOTAL-REVENUES> 176,316 <CGS> 0 <TOTAL-COSTS> 76,399 <OTHER-EXPENSES> 39,110 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 35,413 <INCOME-PRETAX> 20,260 <INCOME-TAX> 0 <INCOME-CONTINUING> 20,260 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 20,260 <EPS-PRIMARY> .36 <EPS-DILUTED> .36