<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 152,545 <SECURITIES> 0 <RECEIVABLES> 2,126 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 211,632 <PP&E> 2,747,081 <DEPRECIATION> (273,395) <TOTAL-ASSETS> 2,784,866 <CURRENT-LIABILITIES> 120,514 <BONDS> 1,237,623 <PREFERRED-MANDATORY> 0 <PREFERRED> 393,000 <COMMON> 458 <OTHER-SE> 878,432 <TOTAL-LIABILITY-AND-EQUITY> 2,784,866 <SALES> 341,815 <TOTAL-REVENUES> 344,047 <CGS> 0 <TOTAL-COSTS> 141,602 <OTHER-EXPENSES> 6,690 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 61,492 <INCOME-PRETAX> 67,504 <INCOME-TAX> 0 <INCOME-CONTINUING> 67,504 <DISCONTINUED> 2,346 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 38,337 <EPS-PRIMARY> .94 <EPS-DILUTED> .94