<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> DEC-31-1998 <CASH> 9,646 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 803,152 <DEPRECIATION> 70,940 <TOTAL-ASSETS> 821,439 <CURRENT-LIABILITIES> 26,000 <BONDS> 339,164 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 172 <OTHER-SE> 340,192 <TOTAL-LIABILITY-AND-EQUITY> 821,439 <SALES> 0 <TOTAL-REVENUES> 120,588 <CGS> 0 <TOTAL-COSTS> 36,644 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 24,245 <INCOME-PRETAX> 32,054 <INCOME-TAX> 0 <INCOME-CONTINUING> 32,054 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 26,096 <EPS-PRIMARY> 1.55 <EPS-DILUTED> 1.53