<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FORM
10-Q FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                                   1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 JAN-01-1998
<PERIOD-END>                                   MAR-31-1998
<CASH>                                              13,692
<SECURITIES>                                             0
<RECEIVABLES>                                            0
<ALLOWANCES>                                             0
<INVENTORY>                                              0
<CURRENT-ASSETS>                                    15,015
<PP&E>                                             668,211
<DEPRECIATION>                                       1,832
<TOTAL-ASSETS>                                     725,320
<CURRENT-LIABILITIES>                               21,974
<BONDS>                                            202,626
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                              0
<COMMON>                                                 0
<OTHER-SE>                                         498,543
<TOTAL-LIABILITY-AND-EQUITY>                       725,320
<SALES>                                                  0
<TOTAL-REVENUES>                                    21,701
<CGS>                                                    0
<TOTAL-COSTS>                                            0
<OTHER-EXPENSES>                                     4,507
<LOSS-PROVISION>                                         0
<INTEREST-EXPENSE>                                   4,692
<INCOME-PRETAX>                                     10,283
<INCOME-TAX>                                             0
<INCOME-CONTINUING>                                 10,283
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                       (569)
<CHANGES>                                                0
<NET-INCOME>                                         9,714
<EPS-PRIMARY>                                          .40
<EPS-DILUTED>                                          .40