<ARTICLE> 5 <RESTATED> <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 23,838,306 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 197,908,257 <DEPRECIATION> 25,402,000 <TOTAL-ASSETS> 204,552,126 <CURRENT-LIABILITIES> 0 <BONDS> 154,719,546 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 44,976 <OTHER-SE> 33,050,014 <TOTAL-LIABILITY-AND-EQUITY> 204,552,126 <SALES> 0 <TOTAL-REVENUES> 16,127,473 <CGS> 0 <TOTAL-COSTS> 7,547,287 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 7,480,490 <INCOME-PRETAX> 1,099,696 <INCOME-TAX> 433,000 <INCOME-CONTINUING> 666,696 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 666,696 <EPS-PRIMARY> .88 <EPS-DILUTED> .30