<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-2000 <PERIOD-START> JAN-01-2000 <PERIOD-END> MAR-31-2000 <CASH> 229,693 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 4,995,886 <DEPRECIATION> 488,480 <TOTAL-ASSETS> 6,018,509 <CURRENT-LIABILITIES> 0 <BONDS> 3,007,050 <PREFERRED-MANDATORY> 149,500 <PREFERRED> 671,250 <COMMON> 679 <OTHER-SE> 1,600,755 <TOTAL-LIABILITY-AND-EQUITY> 6,018,509 <SALES> 237,630 <TOTAL-REVENUES> 253,520 <CGS> 168,214 <TOTAL-COSTS> 173,000 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 59,110 <INCOME-PRETAX> 28,454 <INCOME-TAX> 0 <INCOME-CONTINUING> 28,454 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 28,454 <EPS-BASIC> 0.17 <EPS-DILUTED> 0.17