<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> SEP-30-1998 <CASH> 49,368 <SECURITIES> 0 <RECEIVABLES> 28,861 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 3,831,313 <DEPRECIATION> 148,339 <TOTAL-ASSETS> 4,066,031 <CURRENT-LIABILITIES> 106,322 <BONDS> 1,504,852 <PREFERRED-MANDATORY> 0 <PREFERRED> 295,000 <COMMON> 691 <OTHER-SE> 2,094,798 <TOTAL-LIABILITY-AND-EQUITY> 4,066,031 <SALES> 0 <TOTAL-REVENUES> 233,530 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 147,295 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 46,486 <INCOME-PRETAX> 86,235 <INCOME-TAX> 0 <INCOME-CONTINUING> 86,235 <DISCONTINUED> 0 <EXTRAORDINARY> 3,075 <CHANGES> 0 <NET-INCOME> 83,160 <EPS-PRIMARY> 1.57 <EPS-DILUTED> 1.56