<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S UNAUDITED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30,
1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>

                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               SEP-30-1999
<CASH>                                         140,752
<SECURITIES>                                    77,472
<RECEIVABLES>                                   48,253
<ALLOWANCES>                                     6,340
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                       3,840,944
<DEPRECIATION>                               (286,650)
<TOTAL-ASSETS>                               5,308,120
<CURRENT-LIABILITIES>                                0
<BONDS>                                      2,072,966
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    478,029
<COMMON>                                         3,437
<OTHER-SE>                                   1,545,734
<TOTAL-LIABILITY-AND-EQUITY>                 5,308,120
<SALES>                                              0
<TOTAL-REVENUES>                               513,307
<CGS>                                                0
<TOTAL-COSTS>                                  206,340
<OTHER-EXPENSES>                                87,834
<LOSS-PROVISION>                                 3,049
<INTEREST-EXPENSE>                             105,986
<INCOME-PRETAX>                                156,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            156,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   132,235
<EPS-BASIC>                                       1.55
<EPS-DILUTED>                                     1.51