<TABLE> <S> <C>

<ARTICLE> 5
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>                     <C>
<PERIOD-TYPE>                   YEAR                   YEAR                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1997             DEC-31-1996
<PERIOD-START>                             JAN-01-1998             JAN-01-1997             JAN-01-1996
<PERIOD-END>                               DEC-31-1998             DEC-31-1997             DEC-31-1996
<CASH>                                           9,292                   9,757                  29,720
<SECURITIES>                                         0                       0                       0
<RECEIVABLES>                                    6,765                   1,613                   1,324
<ALLOWANCES>                                         0                       0                       0
<INVENTORY>                                          0                       0                       0
<CURRENT-ASSETS>                                     0                       0                       0
<PP&E>                                       1,531,163               1,506,030                 683,515
<DEPRECIATION>                                 128,765                  74,584                  41,707
<TOTAL-ASSETS>                               1,552,273               1,469,472                 689,714
<CURRENT-LIABILITIES>                                0                       0                       0
<BONDS>                                              0                       0                       0
<PREFERRED-MANDATORY>                                0                       0                       0
<PREFERRED>                                         70                      57                      58
<COMMON>                                           236                     180                     169
<OTHER-SE>                                     532,897                 394,978                 396,308
<TOTAL-LIABILITY-AND-EQUITY>                 1,552,273               1,469,472                 689,714
<SALES>                                              0                       0                       0
<TOTAL-REVENUES>                               278,817                 169,537                 109,475
<CGS>                                                0                       0                       0
<TOTAL-COSTS>                                  120,202                  73,288                  47,560
<OTHER-EXPENSES>                                     0                       0                       0
<LOSS-PROVISION>                                     0                       0                       0
<INTEREST-EXPENSE>                              54,409                  28,447                  20,573
<INCOME-PRETAX>                                 29,754                  25,058                  17,188
<INCOME-TAX>                                         0                       0                       0
<INCOME-CONTINUING>                             29,754                  25,058                  17,188
<DISCONTINUED>                                       0                       0                       0
<EXTRAORDINARY>                                  (423)                   (422)                 (1,848)
<CHANGES>                                            0                       0                       0
<NET-INCOME>                                    10,736                   9,396                  13,182
<EPS-PRIMARY>                                      .58                     .53                     .90
<EPS-DILUTED>                                      .58                     .53                     .89
        

</TABLE>