<TABLE> <S> <C>
                                                               
<ARTICLE>                                                                 5
<LEGEND>                                                     
This schedule contains summary financial information extracted from
financial statements, schedules and other disclosure contained in
Form 10-K for the year ended September 30, 1998 of B. F. Saul Real
Estate Investment Trust and is qualified in its entirety by reference
to such financial statements, schedules and other disclosure.
</LEGEND>                                                    
<MULTIPLIER>                                                              1000
                                                                     
<S>                                                                 <C>
<PERIOD-TYPE>                                                                       12-MOS
<FISCAL-YEAR-END>                                                              SEP-30-1998
<PERIOD-END>                                                                   SEP-30-1998
<CASH>                                                                               13950
<SECURITIES>                                                                             0
<RECEIVABLES>                                                                            0
<ALLOWANCES>                                                                             0
<INVENTORY>                                                                              0
<CURRENT-ASSETS>                                                                         0
<PP&E>                                                                              320061
<DEPRECIATION>                                                                       96072
<TOTAL-ASSETS>                                                                           0
<CURRENT-LIABILITIES>                                                                    0
<BONDS>                                                                                  0
<PREFERRED-MANDATORY>                                                                    0
<PREFERRED>                                                                              0
<COMMON>                                                                                 0
<OTHER-SE>                                                                               0
<TOTAL-LIABILITY-AND-EQUITY>                                                             0
<SALES>                                                                                  0
<TOTAL-REVENUES>                                                                    100179
<CGS>                                                                                    0
<TOTAL-COSTS>                                                                        54754
<OTHER-EXPENSES>                                                                     21065
<LOSS-PROVISION>                                                                         0
<INTEREST-EXPENSE>                                                                   42817
<INCOME-PRETAX>                                                                     (18457)
<INCOME-TAX>                                                                             0
<INCOME-CONTINUING>                                                                      0
<DISCONTINUED>                                                                           0
<EXTRAORDINARY>                                                                          0
<CHANGES>                                                                                0
<NET-INCOME>                                                                             0
<EPS-PRIMARY>                                                                            0
<EPS-DILUTED>                                                                            0
        

</TABLE>