<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED CONSOLIDATED BALANCE SHEETS AND CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS OF THE COMPANY'S FORM 10-K AND IS QUALIFIED IN ITS ENTIRETY BY 
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<CASH>                                       1,554,000
<SECURITIES>                                         0
<RECEIVABLES>                               14,479,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     512,357,000
<DEPRECIATION>                              18,611,000
<TOTAL-ASSETS>                             530,296,000
<CURRENT-LIABILITIES>                       20,698,000
<BONDS>                                    309,829,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       126,000
<OTHER-SE>                                 199,643,000
<TOTAL-LIABILITY-AND-EQUITY>               530,296,000
<SALES>                                              0
<TOTAL-REVENUES>                            61,016,000
<CGS>                                                0
<TOTAL-COSTS>                               13,390,000
<OTHER-EXPENSES>                            14,190,000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                          14,033,000
<INCOME-PRETAX>                             19,403,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                         19,403,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                19,403,000
<EPS-PRIMARY>                                     1.60
<EPS-DILUTED>                                     1.58