<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                         DEC-31-1996
<PERIOD-START>                            JAN-01-1996
<PERIOD-END>                              DEC-31-1996
<CASH>                                        147,271 
<SECURITIES>                                        0 
<RECEIVABLES>                                   1,450 
<ALLOWANCES>                                        0 
<INVENTORY>                                         0 
<CURRENT-ASSETS>                              196,896       
<PP&E>                                      2,983,510      
<DEPRECIATION>                              (301,512)    
<TOTAL-ASSETS>                              2,986,127      
<CURRENT-LIABILITIES>                         122,386    
<BONDS>                                     1,254,274  
<PREFERRED-MANDATORY>                               0 
<PREFERRED>                                   393,000 
<COMMON>                                          512 
<OTHER-SE>                                  1,065,318       
<TOTAL-LIABILITY-AND-EQUITY>                2,986,127         
<SALES>                                       473,980          
<TOTAL-REVENUES>                              478,385          
<CGS>                                               0          
<TOTAL-COSTS>                                 188,812          
<OTHER-EXPENSES>                                9,857       
<LOSS-PROVISION>                                    0      
<INTEREST-EXPENSE>                             85,593       
<INCOME-PRETAX>                                97,033       
<INCOME-TAX>                                        0      
<INCOME-CONTINUING>                            97,033      
<DISCONTINUED>                                 22,402  
<EXTRAORDINARY>                               (3,512)      
<CHANGES>                                           0  
<NET-INCOME>                                   72,609 
<EPS-PRIMARY>                                    1.70 
<EPS-DILUTED>                                    1.70