<ARTICLE> 5
<LEGEND> This schedule contains summary financial information extracted from 
Consolidated Balance Sheet and Statement of Operations and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                         DEC-31-1997
<PERIOD-START>                            JAN-01-1997
<PERIOD-END>                              MAR-31-1997
<CASH>                                         84,829 
<SECURITIES>                                        0 
<RECEIVABLES>                                   1,351 
<ALLOWANCES>                                        0 
<INVENTORY>                                         0 
<CURRENT-ASSETS>                              144,073       
<PP&E>                                      3,201,581      
<DEPRECIATION>                              (328,321)    
<TOTAL-ASSETS>                              3,113,235      
<CURRENT-LIABILITIES>                         128,593    
<BONDS>                                     1,294,641  
<PREFERRED-MANDATORY>                               0 
<PREFERRED>                                   393,000 
<COMMON>                                            0 
<OTHER-SE>                                          0       
<TOTAL-LIABILITY-AND-EQUITY>                3,113,235         
<SALES>                                       139,496          
<TOTAL-REVENUES>                              141,387          
<CGS>                                               0          
<TOTAL-COSTS>                                  51,916          
<OTHER-EXPENSES>                                2,975       
<LOSS-PROVISION>                                    0      
<INTEREST-EXPENSE>                             23,896       
<INCOME-PRETAX>                                32,756       
<INCOME-TAX>                                        0      
<INCOME-CONTINUING>                            32,756      
<DISCONTINUED>                                  3,632  
<EXTRAORDINARY>                                     0      
<CHANGES>                                           0  
<NET-INCOME>                                   27,327 
<EPS-PRIMARY>                                    0.46 
<EPS-DILUTED>                                    0.46