<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                          11,230
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         556,122
<DEPRECIATION>                                  22,813
<TOTAL-ASSETS>                                 556,442
<CURRENT-LIABILITIES>                                0
<BONDS>                                        180,000
<COMMON>                                           149
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     283,478
<TOTAL-LIABILITY-AND-EQUITY>                   556,442
<SALES>                                              0
<TOTAL-REVENUES>                                30,591
<CGS>                                                0
<TOTAL-COSTS>                                    8,749
<OTHER-EXPENSES>                                 6,510
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               4,704
<INCOME-PRETAX>                                  9,103
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              9,103
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                (6,896)
<CHANGES>                                            0
<NET-INCOME>                                     1,462
<EPS-PRIMARY>                                      .62 <F1>
<EPS-DILUTED>                                      .62 <F1>
<FN>
<F1>
EPS excludes extraordinary loss of $.49 per share
</FN>