<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> 33,206 <SECURITIES> 0 <RECEIVABLES> 46,850 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 80,056 <PP&E> 3,223,930 <DEPRECIATION> 43,904 <TOTAL-ASSETS> 3,327,273 <CURRENT-LIABILITIES> 109,606 <BONDS> 1,306,602 <PREFERRED-MANDATORY> 0 <PREFERRED> 96,100 <COMMON> 1,670,576 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 3,327,273 <SALES> 0 <TOTAL-REVENUES> 254,860 <CGS> 0 <TOTAL-COSTS> 163,488 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 47,105 <INCOME-PRETAX> 91,372 <INCOME-TAX> 0 <INCOME-CONTINUING> 91,372 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 83,243 <EPS-PRIMARY> 0.97 <EPS-DILUTED> 0.97