<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <CASH> 36,086 <SECURITIES> 0 <RECEIVABLES> 24,674 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 48,788 <PP&E> 1,691,530 <DEPRECIATION> 97,535 <TOTAL-ASSETS> 1,779,412 <CURRENT-LIABILITIES> 41,764 <BONDS> 605,212 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 481 <OTHER-SE> 998,669 <TOTAL-LIABILITY-AND-EQUITY> 1,779,412 <SALES> 0 <TOTAL-REVENUES> 188,780 <CGS> 0 <TOTAL-COSTS> 109,934 <OTHER-EXPENSES> 5,988 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 30,300 <INCOME-PRETAX> 48,546 <INCOME-TAX> 0 <INCOME-CONTINUING> 48,546 <DISCONTINUED> (2,858) <EXTRAORDINARY> (3,368) <CHANGES> 0 <NET-INCOME> 36,332 <EPS-PRIMARY> 1.21 <EPS-DILUTED> 1.21