<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM (IDENTIFY
SPECIFIC FINANCIAL STATEMENTS HERE) THE CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS OF THE THE COMPANY
</LEGEND>
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                       2,060,000
<SECURITIES>                                         0
<RECEIVABLES>                                3,630,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     238,774,000
<DEPRECIATION>                               8,804,000
<TOTAL-ASSETS>                             248,454,000
<CURRENT-LIABILITIES>                       10,720,000
<BONDS>                                     70,817,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       114,000
<OTHER-SE>                                 166,803,000
<TOTAL-LIABILITY-AND-EQUITY>               248,454,000
<SALES>                                              0
<TOTAL-REVENUES>                            34,846,000
<CGS>                                                0
<TOTAL-COSTS>                                8,766,000
<OTHER-EXPENSES>                            28,877,000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           7,043,000
<INCOME-PRETAX>                            (2,797,000)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (2,797,000)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (2,797,000)
<EPS-PRIMARY>                                   (0.35)
<EPS-DILUTED>                                   (0.35)