<TABLE> <S> <C>

<PAGE>


<ARTICLE> 5
<MULTIPLIER> 1,000

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                         DEC-31-2000
<PERIOD-START>                            JAN-01-2000
<PERIOD-END>                              SEP-30-2000
<CASH>                                         28,467
<SECURITIES>                                        0
<RECEIVABLES>                                  20,677
<ALLOWANCES>                                        0
<INVENTORY>                                   114,304<F1>
<CURRENT-ASSETS>                                    0
<PP&E>                                      1,337,595
<DEPRECIATION>                                (54,114)
<TOTAL-ASSETS>                              1,446,929
<CURRENT-LIABILITIES>                         244,751<F2>
<BONDS>                                       868,415
                               0
                                        40
<COMMON>                                          156
<OTHER-SE>                                    333,567
<TOTAL-LIABILITY-AND-EQUITY>                1,446,929
<SALES>                                             0
<TOTAL-REVENUES>                              173,511
<CGS>                                               0
<TOTAL-COSTS>                                       0
<OTHER-EXPENSES>                              111,838<F3>
<LOSS-PROVISION>                                    0
<INTEREST-EXPENSE>                             42,458
<INCOME-PRETAX>                                19,215
<INCOME-TAX>                                        0
<INCOME-CONTINUING>                                 0
<DISCONTINUED>                                      0
<EXTRAORDINARY>                                 1,265
<CHANGES>                                           0
<NET-INCOME>                                   17,950
<EPS-BASIC>                                      0.58
<EPS-DILUTED>                                    0.57

<FN>
<F1> Amount includes restricted cash escrows ($71,142), net deferred costs
     ($26,381), and other assets ($16,781).

<F2> Amount includes accrued interest payable ($4,810) accrued real estate taxes
     (30,694), accounts payable and accrued expenses ($26,541), liabilities for
     leases assumed ($2,525), dividends payable ($8,244), other liabilities
     ($10,645) and minority interests of ($161,292).

<F3> Amount includes property operations ($39,371), real estate taxes ($29,756),
     depreciation and amortization ($28,788), general and administrative
     expenses ($6,861), and minority interests allocation ($7,062).
</FN>



</TABLE>



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