<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                       5,038,000
<SECURITIES>                                         0
<RECEIVABLES>                                7,741,000
<ALLOWANCES>                               (1,608,000)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     479,478,000
<DEPRECIATION>                            (21,976,000)
<TOTAL-ASSETS>                             558,628,000
<CURRENT-LIABILITIES>                                0
<BONDS>                                    238,748,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                   324,411,000
<OTHER-SE>                                (11,757,000)
<TOTAL-LIABILITY-AND-EQUITY>               558,628,000
<SALES>                                              0
<TOTAL-REVENUES>                            63,135,000
<CGS>                                                0
<TOTAL-COSTS>                               37,562,000
<OTHER-EXPENSES>                             1,777,000
<LOSS-PROVISION>                             1,008,000
<INTEREST-EXPENSE>                          19,450,000
<INCOME-PRETAX>                             23,796,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                         23,796,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                23,796,000
<EPS-PRIMARY>                                     1.62
<EPS-DILUTED>                                     1.59