<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Operating Partnership's unaudited financial statements for the three months
ended March 31, 1998 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                         236,657
<SECURITIES>                                    35,685
<RECEIVABLES>                                   23,712
<ALLOWANCES>                                       730
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                       2,126,130
<DEPRECIATION>                                 183,402
<TOTAL-ASSETS>                               2,965,189
<CURRENT-LIABILITIES>                                0
<BONDS>                                      1,385,132
<PREFERRED-MANDATORY>                          280,601      
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                   1,149,662
<TOTAL-LIABILITY-AND-EQUITY>                 2,965,189
<SALES>                                              0
<TOTAL-REVENUES>                                90,211
<CGS>                                                0
<TOTAL-COSTS>                                   34,153
<OTHER-EXPENSES>                                15,313
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              19,823
<INCOME-PRETAX>                                 34,064
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             34,064
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    26,064
<EPS-PRIMARY>                                     0.36
<EPS-DILUTED>                                     0.35