<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-31-1998
<PERIOD-START>                            JAN-01-1998
<PERIOD-END>                              MAR-31-1998
<CASH>                                         77,575
<SECURITIES>                                        0         
<RECEIVABLES>                                   3,798
<ALLOWANCES>                                        0
<INVENTORY>                                         0
<CURRENT-ASSETS>                              259,630 
<PP&E>                                      7,362,929
<DEPRECIATION>                              (508,394)
<TOTAL-ASSETS>                              7,329,342
<CURRENT-LIABILITIES>                         262,444
<BONDS>                                     2,786,096
<PREFERRED-MANDATORY>                               0
<PREFERRED>                                 1,041,700
<COMMON>                                            0
<OTHER-SE>                                          0
<TOTAL-LIABILITY-AND-EQUITY>                7,329,342
<SALES>                                       283,517
<TOTAL-REVENUES>                              286,341
<CGS>                                               0         
<TOTAL-COSTS>                                 106,787
<OTHER-EXPENSES>                                4,880
<LOSS-PROVISION>                                    0
<INTEREST-EXPENSE>                             50,878
<INCOME-PRETAX>                                59,406
<INCOME-TAX>                                        0
<INCOME-CONTINUING>                            59,406
<DISCONTINUED>                                  1,869
<EXTRAORDINARY>                                     0
<CHANGES>                                           0 
<NET-INCOME>                                   39,583
<EPS-PRIMARY>                                     .38
<EPS-DILUTED>                                     .38