<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 11,477,120 <SECURITIES> 0 <RECEIVABLES> 51,754,338 <ALLOWANCES> 1,954,076 <INVENTORY> 0 <CURRENT-ASSETS> 66,091,986 <PP&E> 106,813,239 <DEPRECIATION> 6,630,347 <TOTAL-ASSETS> 917,613,394 <CURRENT-LIABILITIES> 29,701,147 <BONDS> 462,842,130 <PREFERRED-MANDATORY> 98,457,258 <PREFERRED> 0 <COMMON> 2,796,322 <OTHER-SE> 219,549,766 <TOTAL-LIABILITY-AND-EQUITY> 917,613,394 <SALES> 0 <TOTAL-REVENUES> 116,403,618 <CGS> 0 <TOTAL-COSTS> 77,779,207 <OTHER-EXPENSES> 41,665,424 <LOSS-PROVISION> 1,115,995 <INTEREST-EXPENSE> 31,830,146 <INCOME-PRETAX> (35,987,154) <INCOME-TAX> (1,405,679) <INCOME-CONTINUING> (37,392,833) <DISCONTINUED> 0 <EXTRAORDINARY> (2,293,475) <CHANGES> 0 <NET-INCOME> (39,686,308) <EPS-PRIMARY> 0 <EPS-DILUTED> 0