<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 8,083 <SECURITIES> 0 <RECEIVABLES> 3,755 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 13,454 <PP&E> 832,126 <DEPRECIATION> 28,029 <TOTAL-ASSETS> 866,913 <CURRENT-LIABILITIES> 4,101 <BONDS> 124,889 <PREFERRED-MANDATORY> 0 <PREFERRED> 151,250 <COMMON> 235 <OTHER-SE> 508,218 <TOTAL-LIABILITY-AND-EQUITY> 866,913 <SALES> 0 <TOTAL-REVENUES> 74,997 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,273 <INCOME-PRETAX> 35,106 <INCOME-TAX> 0 <INCOME-CONTINUING> 35,106 <DISCONTINUED> 0 <EXTRAORDINARY> 2,354 <CHANGES> 0 <NET-INCOME> 32,752 <EPS-PRIMARY> 1.22 <EPS-DILUTED> 1.22