<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 14,642,429 <SECURITIES> 0 <RECEIVABLES> 8,408,358 <ALLOWANCES> 1,162,570 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 636,787,422 <DEPRECIATION> 22,041,114 <TOTAL-ASSETS> 641,149,145 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 428,429,261 <TOTAL-LIABILITY-AND-EQUITY> 641,149,145 <SALES> 0 <TOTAL-REVENUES> 75,251,178 <CGS> 0 <TOTAL-COSTS> 17,139,654 <OTHER-EXPENSES> 11,904,788 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 13,613,704 <INCOME-PRETAX> 23,509,522 <INCOME-TAX> 0 <INCOME-CONTINUING> 23,509,522 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 23,509,522 <EPS-PRIMARY> 1.20 <EPS-DILUTED> 1.12