<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JUL-01-1999 <PERIOD-END> SEP-30-1999 <CASH> 16,050,437 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 335,141,644 <DEPRECIATION> 46,843,871 <TOTAL-ASSETS> 319,916,342 <CURRENT-LIABILITIES> 0 <BONDS> 250,461,369 <PREFERRED-MANDATORY> 42,093 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 37,536,422 <TOTAL-LIABILITY-AND-EQUITY> 319,916,342 <SALES> 0 <TOTAL-REVENUES> 10,597,947 <CGS> 0 <TOTAL-COSTS> 4,654,647 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 4,267,127 <INCOME-PRETAX> 1,676,173 <INCOME-TAX> 636,946 <INCOME-CONTINUING> 1,039,227 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,039,227 <EPS-BASIC> .25 <EPS-DILUTED> .24