<ARTICLE>                     5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-END>                                   MAR-31-1998
<CASH>                                         5,181
<SECURITIES>                                   0
<RECEIVABLES>                                  0
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               0
<PP&E>                                         475,317
<DEPRECIATION>                                 68,644
<TOTAL-ASSETS>                                 432,590
<CURRENT-LIABILITIES>                          0
<BONDS>                                        253,411
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    1
<COMMON>                                       79
<OTHER-SE>                                     121,109
<TOTAL-LIABILITY-AND-EQUITY>                   432,590
<SALES>                                        0
<TOTAL-REVENUES>                               22,806
<CGS>                                          0
<TOTAL-COSTS>                                  6,652
<OTHER-EXPENSES>                               5,134<F1>
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             4,792
<INCOME-PRETAX>                                5,523
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            4,115
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                (332)
<CHANGES>                                      0
<NET-INCOME>                                   3,783
<EPS-PRIMARY>                                  .42
<EPS-DILUTED>                                  .41
<FN>
<F1>DEPRECIATION AND AMORTIZATION
</FN>