<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 4,368 <SECURITIES> 0 <RECEIVABLES> 13,788 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 593,693 <DEPRECIATION> 31,463 <TOTAL-ASSETS> 594,535 <CURRENT-LIABILITIES> 0 <BONDS> 189,027 <PREFERRED-MANDATORY> 0 <PREFERRED> 10 <COMMON> 244 <OTHER-SE> 363,761 <TOTAL-LIABILITY-AND-EQUITY> 594,535 <SALES> 21,736 <TOTAL-REVENUES> 21,747 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 7,830 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,548 <INCOME-PRETAX> 11,369 <INCOME-TAX> 0 <INCOME-CONTINUING> 11,369 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 10,308 <EPS-PRIMARY> 0.41 <EPS-DILUTED> 0