<ARTICLE> 5
<LEGEND>
THE FINANCIAL DATA SCHEDULE INFORMATION HAS BEEN EXTRACTED FROM THE REGISTRANTS
CONSOLIDATED BALANCE SHEET DATED MARCH 31, 1999 AND THE CONSOLIDATED STATEMENT
OF INCOME FOR THE THREE MONTHS ENDED MARCH 31, 1999.
</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>                                             247
<SECURITIES>                                     4,086
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         470,700
<DEPRECIATION>                                 (7,676)
<TOTAL-ASSETS>                                 472,810
<CURRENT-LIABILITIES>                                0
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           139
<OTHER-SE>                                     248,159
<TOTAL-LIABILITY-AND-EQUITY>                   472,810
<SALES>                                              0
<TOTAL-REVENUES>                                11,497
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 2,907
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               3,152
<INCOME-PRETAX>                                  5,438
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     5,438
<EPS-PRIMARY>                                     0.39
<EPS-DILUTED>                                     0.39