<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> SEP-30-1996 <CASH> 2,844 <SECURITIES> 0 <RECEIVABLES> 4,245 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 347,853 <DEPRECIATION> 42,935 <TOTAL-ASSETS> 325,649 <CURRENT-LIABILITIES> 0 <BONDS> 174,101 <PREFERRED-MANDATORY> 0 <PREFERRED> 1 <COMMON> 65 <OTHER-SE> 111,161 <TOTAL-LIABILITY-AND-EQUITY> 325,649 <SALES> 0 <TOTAL-REVENUES> 55,765 <CGS> 0 <TOTAL-COSTS> 17,737 <OTHER-EXPENSES> 12,285<F1> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 10,282 <INCOME-PRETAX> 8,447 <INCOME-TAX> 0 <INCOME-CONTINUING> 8,447 <DISCONTINUED> 0 <EXTRAORDINARY> (561) <CHANGES> 0 <NET-INCOME> 7,886 <EPS-PRIMARY> .94 <EPS-DILUTED> .94 <FN> <F1>Depreciation and Amortization </FN>