<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q FOR THE THREE MONTH PERIOD ENDED MARCH 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> MAR-31-1999 <CASH> 5,451 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,451 <PP&E> 706,884 <DEPRECIATION> 10,083 <TOTAL-ASSETS> 836,416 <CURRENT-LIABILITIES> 17,293 <BONDS> 293,880 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 517,494 <TOTAL-LIABILITY-AND-EQUITY> 836,416 <SALES> 0 <TOTAL-REVENUES> 21,114 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 6,778 <LOSS-PROVISION> 165 <INTEREST-EXPENSE> 4,141 <INCOME-PRETAX> 9,866 <INCOME-TAX> 0 <INCOME-CONTINUING> 9,866 <DISCONTINUED> 0 <EXTRAORDINARY> (39) <CHANGES> 0 <NET-INCOME> 9,827 <EPS-PRIMARY> .39 <EPS-DILUTED> .39