<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS    
<FISCAL-YEAR-END>                        DEC-31-1997  
<PERIOD-START>                           JAN-01-1997   
<PERIOD-END>                             JUN-30-1997    
<CASH>                                       311,358
<SECURITIES>                                       0
<RECEIVABLES>                                  2,078
<ALLOWANCES>                                       0
<INVENTORY>                                        0
<CURRENT-ASSETS>                             429,076
<PP&E>                                     4,482,434
<DEPRECIATION>                             (357,599)
<TOTAL-ASSETS>                             4,738,734
<CURRENT-LIABILITIES>                        181,441
<BONDS>                                    1,715,387
<PREFERRED-MANDATORY>                              0
<PREFERRED>                                  725,495
<COMMON>                                         736
<OTHER-SE>                                 1,936,453
<TOTAL-LIABILITY-AND-EQUITY>               4,738,734
<SALES>                                      301,920
<TOTAL-REVENUES>                             306,324
<CGS>                                              0
<TOTAL-COSTS>                                112,246
<OTHER-EXPENSES>                               6,206
<LOSS-PROVISION>                                   0
<INTEREST-EXPENSE>                            52,144
<INCOME-PRETAX>                               71,384
<INCOME-TAX>                                       0
<INCOME-CONTINUING>                           71,384
<DISCONTINUED>                                 3,632
<EXTRAORDINARY>                                    0
<CHANGES>                                          0
<NET-INCOME>                                  47,732
<EPS-PRIMARY>                                    .86
<EPS-DILUTED>                                    .86