<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 10-K AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FORM 10-K.
</LEGEND>
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<CASH>                                         127,131
<SECURITIES>                                         0
<RECEIVABLES>                                   33,708
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                       2,802,598
<DEPRECIATION>                               (228,880)
<TOTAL-ASSETS>                               4,268,285
<CURRENT-LIABILITIES>                                0
<BONDS>                                      1,660,715
<PREFERRED-MANDATORY>                          149,500
<PREFERRED>                                    792,468
<COMMON>                                           485
<OTHER-SE>                                   1,109,611
<TOTAL-LIABILITY-AND-EQUITY>                 4,268,285
<SALES>                                        401,242
<TOTAL-REVENUES>                               431,692
<CGS>                                          260,149
<TOTAL-COSTS>                                  283,534
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              89,424
<INCOME-PRETAX>                                 64,474
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             64,474
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    64,474
<EPS-PRIMARY>                                     0.84
<EPS-DILUTED>                                     0.80