<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-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> 18,186,307 <CGS> 0 <TOTAL-COSTS> 7,692,111 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 7,495,746 <INCOME-PRETAX> 2,998,450 <INCOME-TAX> 1,139,404 <INCOME-CONTINUING> 1,859,046 <DISCONTINUED> 0 <EXTRAORDINARY> 214,263 <CHANGES> 0 <NET-INCOME> 1,644,783 <EPS-BASIC> .39 <EPS-DILUTED> .38