<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 5,556,513 <SECURITIES> 0 <RECEIVABLES> 9,008,984 <ALLOWANCES> 1,357,948 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 779,008,510 <DEPRECIATION> 20,812,516 <TOTAL-ASSETS> 776,211,194 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 455,776,133 <TOTAL-LIABILITY-AND-EQUITY> 776,211,194 <SALES> 0 <TOTAL-REVENUES> 23,799,232 <CGS> 0 <TOTAL-COSTS> 5,138,249 <OTHER-EXPENSES> 4,145,466 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 3,409,517 <INCOME-PRETAX> 18,131,408 <INCOME-TAX> 0 <INCOME-CONTINUING> 18,131,408 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 18,131,408 <EPS-PRIMARY> 0.71 <EPS-DILUTED> 0.70