<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND CONSOLIDATED STATEMENTS OF OPERATIONS OF ALTERRA
HEALTHCARE CORPORATION FILED WITH THE COMPANY'S FORM 10-Q FOR THE PERIOD ENDED
JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS AND RELATED FOOTNOTES.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                          57,930
<SECURITIES>                                         0
<RECEIVABLES>                                    7,244
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               106,337
<PP&E>                                         756,037
<DEPRECIATION>                                (29,476)
<TOTAL-ASSETS>                                 893,081
<CURRENT-LIABILITIES>                           61,348
<BONDS>                                        634,873
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       179,264
<OTHER-SE>                                       5,295
<TOTAL-LIABILITY-AND-EQUITY>                   893,081
<SALES>                                        174,811
<TOTAL-REVENUES>                               174,811
<CGS>                                                0
<TOTAL-COSTS>                                  157,440
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              14,075
<INCOME-PRETAX>                                 16,296
<INCOME-TAX>                                     6,193
<INCOME-CONTINUING>                             10,103
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                        3,837
<NET-INCOME>                                    10,103
<EPS-BASIC>                                       0.28
<EPS-DILUTED>                                     0.28