<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> DEC-31-1995 <CASH> 6,386 <SECURITIES> 4,753 <RECEIVABLES> 6,305 <ALLOWANCES> (7,005) <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 205,269 <DEPRECIATION> 17,735 <TOTAL-ASSETS> 218,568 <CURRENT-LIABILITIES> 0 <BONDS> 135,590 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 75,985 <TOTAL-LIABILITY-AND-EQUITY> 218,568 <SALES> 0 <TOTAL-REVENUES> 37,586 <CGS> 0 <TOTAL-COSTS> 22,682 <OTHER-EXPENSES> 4,279 <LOSS-PROVISION> 541 <INTEREST-EXPENSE> 10,009 <INCOME-PRETAX> (1,443) <INCOME-TAX> 0 <INCOME-CONTINUING> (1,443) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,443) <EPS-PRIMARY> (.33) <EPS-DILUTED> (.33)