<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> APR-01-1999 <PERIOD-END> JUN-30-1999 <CASH> 15,324,540 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 295,736,769 <DEPRECIATION> 42,819,484 <TOTAL-ASSETS> 283,680,593 <CURRENT-LIABILITIES> 0 <BONDS> 220,766,866 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 42,123 <OTHER-SE> 36,454,887 <TOTAL-LIABILITY-AND-EQUITY> 283,680,593 <SALES> 0 <TOTAL-REVENUES> 8,941,682 <CGS> 0 <TOTAL-COSTS> 3,787,816 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 3,688,032 <INCOME-PRETAX> 1,465,834 <INCOME-TAX> 557,015 <INCOME-CONTINUING> 908,819 <DISCONTINUED> 0 <EXTRAORDINARY> 214,263 <CHANGES> 0 <NET-INCOME> 694,556 <EPS-BASIC> .16 <EPS-DILUTED> .16