<ARTICLE> 5 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <CASH> 18,529 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 100,737 <PP&E> 3,916,785 <DEPRECIATION> 280,663 <TOTAL-ASSETS> 3,755,388 <CURRENT-LIABILITIES> 148,076 <BONDS> 2,117,749 <PREFERRED-MANDATORY> 0 <PREFERRED> 430,000 <COMMON> 103,639 <OTHER-SE> 840,482 <TOTAL-LIABILITY-AND-EQUITY> 3,755,388 <SALES> 478,718 <TOTAL-REVENUES> 482,100 <CGS> 0 <TOTAL-COSTS> 199,560 <OTHER-EXPENSES> 128,963 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 106,238 <INCOME-PRETAX> 72,470 <INCOME-TAX> 0 <INCOME-CONTINUING> 72,470 <DISCONTINUED> 0 <EXTRAORDINARY> (138) <CHANGES> 0 <NET-INCOME> 72,332 <EPS-PRIMARY> .49 <EPS-DILUTED> .49