<ARTICLE> 5

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                       1,008,360
<SECURITIES>                                         0
<RECEIVABLES>                               12,778,171
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             8,921,621
<PP&E>                                     225,757,927
<DEPRECIATION>                             (6,250,485)
<TOTAL-ASSETS>                             251,313,772
<CURRENT-LIABILITIES>                          744,415
<BONDS>                                    114,550,582
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        95,081
<OTHER-SE>                                 135,204,694
<TOTAL-LIABILITY-AND-EQUITY>               251,313,772
<SALES>                                              0
<TOTAL-REVENUES>                            14,084,158
<CGS>                                                0
<TOTAL-COSTS>                                2,331,582
<OTHER-EXPENSES>                                61,419
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           4,483,667
<INCOME-PRETAX>                              7,207,490
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          7,207,490
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                    (336,875)
<NET-INCOME>                                 6,870,615
<EPS-BASIC>                                        .72
<EPS-DILUTED>                                      .72