<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> JUN-30-1996 <CASH> 2,757 <SECURITIES> 0 <RECEIVABLES> 3,103 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 337,817 <DEPRECIATION> 39,083 <TOTAL-ASSETS> 317,962 <CURRENT-LIABILITIES> 0 <BONDS> 165,743 <PREFERRED-MANDATORY> 0 <PREFERRED> 1 <COMMON> 63 <OTHER-SE> 112,073 <TOTAL-LIABILITY-AND-EQUITY> 317,962 <SALES> 0 <TOTAL-REVENUES> 36,312 <CGS> 0 <TOTAL-COSTS> 11,365 <OTHER-EXPENSES> 8,107<F1> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,668 <INCOME-PRETAX> 5,483 <INCOME-TAX> 0 <INCOME-CONTINUING> 5,483 <DISCONTINUED> 0 <EXTRAORDINARY> (561) <CHANGES> 0 <NET-INCOME> 4,922 <EPS-PRIMARY> .58 <EPS-DILUTED> .58 <FN> <F1>Depreciation and amortization </FN>