UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

     For the quarterly period ended June 30, 2000

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from __________ to __________

                         Commission File Number 0-17626
                         Commission File Number 0-17853


                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP
                                       and
                     FFCA INVESTOR SERVICES CORPORATION 88-B
               ---------------------------------------------------
               (Exact Name of Co-Registrants as Specified in Their
                            Organizational Documents)


               Delaware                                      86-0588512
  -----------------------------------               ----------------------------
  (Partnership State of Organization)               (Partnership I.R.S. Employer
                                                        Identification Number)


               Delaware                                      86-0588514
  -----------------------------------               ----------------------------
  (Corporation State of Incorporation)              (Corporation I.R.S. Employer
                                                        Identification Number)

          The Perimeter Center
       17207 North Perimeter Drive
          Scottsdale, Arizona                                  85255
----------------------------------------                     ----------
(Address of principal executive offices)                     (zip code)


       Co-Registrants' telephone number including area code (480) 585-4500

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.  Yes [X]   No [ ]
<PAGE>
                         PART 1 - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.


                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                                 BALANCE SHEETS
                       JUNE 30, 2000 AND DECEMBER 31, 1999
                                   (Unaudited)


                                                      June 30,     December 31,
                                                        2000           1999
                                                    ------------   ------------
                                     ASSETS

LAND:
  Held for sale                                     $  1,105,172   $  5,109,126
  Subject to sale agreements                           1,744,690      3,118,364
  Subject to sale agreement with affiliate               623,963        788,287
                                                    ------------   ------------

       Total land                                      3,473,825      9,015,777

LOAN RECEIVABLE FROM AFFILIATE                                --      7,598,415

CASH AND CASH EQUIVALENTS                             20,487,721     16,667,333

PREPAID EXPENSES AND OTHER                               247,964        159,228
                                                    ------------   ------------

       Total assets                                 $ 24,209,510   $ 33,440,753
                                                    ============   ============

                        LIABILITIES AND PARTNERS' CAPITAL


DISTRIBUTION PAYABLE TO LIMITED PARTNERS            $ 16,679,590   $ 14,314,676

ACCOUNTS PAYABLE AND ACCRUED EXPENSES                    156,327        163,786
                                                    ------------   ------------

       Total liabilities                              16,835,917     14,478,462
                                                    ------------   ------------
PARTNERS' CAPITAL (DEFICIT):
  General partner                                         11,673         (3,844)
  Limited partners                                     7,361,920     18,966,135
                                                    ------------   ------------

       Total partners' capital                         7,373,593     18,962,291
                                                    ------------   ------------

       Total liabilities and partners' capital      $ 24,209,510   $ 33,440,753
                                                    ============   ============

                                       1
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF OPERATIONS
            FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999
                                   (Unaudited)


<TABLE>
<CAPTION>
                                              Three Months Ended           Six Months Ended
                                           -------------------------   -------------------------
                                             6/30/00       6/30/99       6/30/00       6/30/99
                                           -----------   -----------   -----------   -----------
<S>                                        <C>           <C>           <C>           <C>
REVENUES:
  Land sales                               $ 9,633,413   $        --   $16,237,212   $        --
  Interest on loan to affiliate                 70,958       212,500       283,458       425,000
  Additional interest from affiliate         1,130,058            --     1,130,058            --
  Interest on investments and other            234,850        21,323       423,562        46,336
                                           -----------   -----------   -----------   -----------

                                            11,069,279       233,823    18,074,290       471,336
                                           -----------   -----------   -----------   -----------

EXPENSES:
  Cost of land sales                         2,971,523            --     6,429,666            --
  General partner fees                          31,033        62,536        75,913       124,386
  Property management fees                       9,000         9,000        18,000        18,000
  Marketing                                         --         2,836            --         8,549
  Property taxes                                11,358        38,634        31,867        89,429
  Other operating                               69,094        77,203       159,628       132,618
                                           -----------   -----------   -----------   -----------

                                             3,092,008       190,209     6,715,074       372,982
                                           -----------   -----------   -----------   -----------

NET INCOME                                 $ 7,977,271   $    43,614   $11,359,216   $    98,354
                                           ===========   ===========   ===========   ===========
NET INCOME ALLOCATED TO:
  General partner                          $    13,154   $       436   $    15,517   $       984
  Limited partners                           7,964,117        43,178    11,343,699        97,370
                                           -----------   -----------   -----------   -----------

                                           $ 7,977,271   $    43,614   $11,359,216   $    98,354
                                           ===========   ===========   ===========   ===========
NET INCOME PER LIMITED
  PARTNERSHIP UNIT (based on
  50,000 units held by limited partners)   $    159.28   $       .86   $    226.87   $      1.95
                                           ===========   ===========   ===========   ===========
</TABLE>

                                       2
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL
                     FOR THE SIX MONTHS ENDED JUNE 30, 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                         Limited Partners
                                        General    ----------------------------
                                        Partner       Number                         Total
                                        Amount       of Units         Amount         Amount
                                     ------------  ------------    ------------   ------------
<S>                                  <C>           <C>             <C>            <C>
BALANCE, December 31, 1999             $ (3,844)      50,000       $ 18,966,135   $ 18,962,291

  Net Income                             15,517           --         11,343,699     11,359,216

  Distribution to Limited Partners           --           --        (22,947,914)   (22,947,914)
                                       --------       ------       ------------   ------------

BALANCE, June 30, 2000                 $ 11,673       50,000       $  7,361,920   $  7,373,593
                                       ========       ======       ============   ============
</TABLE>

                                       3
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF CASH FLOWS
                 FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                     2000                1999
                                                                 ------------        ------------
<S>                                                         <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net income                                                      $ 11,359,216        $     98,354
 Adjustments to net income:
  Gain on sale of property                                           (113,298)                 --
  Change in assets and liabilities:
   Decrease in land held for sale                                   4,003,954           2,200,287
   Decrease (increase) in land subject to sales agreements            749,711          (2,200,287)
   Decrease (increase) in prepaid expenses and other                  (88,736)             67,600
   Increase (decrease) in accounts payable and accrued
    expenses                                                           (7,459)              5,977
                                                                 ------------        ------------

          Net cash provided by operating activities                15,903,388             171,931
                                                                 ------------        ------------
CASH FLOW FROM INVESTING ACTIVITY:
 Receipt of loan payoff from affiliate                              7,598,415                  --
 Proceeds from sale of property to affiliate                          901,585                  --
                                                                 ------------        ------------

          Net cash provided by investing activities                 8,500,000                  --
                                                                 ------------        ------------
CASH FLOWS FOR FINANCING ACTIVITIES:
 Limited partner distributions declared                           (22,947,914)                 --
 Increase (decrease) in distribution payable                        2,364,914            (441,000)
                                                                 ------------        ------------

          Net cash used in financing activities                   (20,583,000)           (441,000)
                                                                 ------------        ------------
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                3,820,388            (269,069)

CASH AND CASH EQUIVALENTS, beginning of period                     16,667,333           2,292,149
                                                                 ------------        ------------

CASH AND CASH EQUIVALENTS, end of period                         $ 20,487,721        $  2,023,080
                                                                 ============        ============
</TABLE>
                                       4
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

     Scottsdale  Land  Trust  Limited  Partnership  (the  Registrant)   received
$50,000,000 in gross proceeds from its public  offering of the Units on November
23, 1988. After deducting  organizational and offering expenses,  the Registrant
had $43,250,000 in net proceeds available for investment.  The net proceeds were
used to purchase the property (The Perimeter  Center),  fund the construction of
the  infrastructure  and  fund  the  $8.5  million  loan  to  Franchise  Finance
Corporation of America (FFCA), in accordance with the partnership agreement.  In
May 2000,  the  entire  principal  balance  of the loan was paid in full by FFCA
together with accrued  interest and  additional  interest in the amount of $1.13
million (as discussed below).  The Registrant's  primary sources of revenue have
been land sales,  interest  payments received from FFCA under the loan agreement
(interest  payments  were made  through May 1, 2000,  at which time the loan was
paid in full) and interest earned on the Registrant's temporary investments.  As
land parcels are sold,  distributions  of the net cash sale proceeds are made in
accordance  with the  partnership  agreement.  Once all of The Perimeter  Center
parcels are sold,  the  Registrant  will  liquidate and distribute its assets in
accordance with the partnership agreement. As of July 31, 2000, all land parcels
were sold or are under  contract for sale. A proxy  statement was filed with the
Securities and Exchange Commission in April 2000, requesting an investor vote on
the sale of an  additional  land  parcel to FFCA and on the  dissolution  of the
partnership  upon sale of the remaining  parcels under contract.  Both proposals
passed  during the quarter ended June 30, 2000.  Cash reserves  remaining in the
Registrant  total  approximately  $3.7 million.  These reserves may be used from
time to time to pay amounts  assessed by city or county taxing  authorities  for
developmental or other costs.

     During the  quarter  ended June 30,  2000 (the  "period"),  the  Registrant
closed one land sale transaction,  representing  16.67 acres, to an unaffiliated
third  party.  This  land  sale  transaction  provided  cash  sale  proceeds  of
approximately $8.7 million. The parcel had a total original cost of $1.6 million
and closing and other costs  (including  broker  commissions)  of  approximately
$547,000.  This  parcel  sale  resulted in a gain  totaling  approximately  $6.5
million. Also in the second quarter, the Registrant received $8.5 million on the
payoff of the principal balance of the FFCA loan, together with accrued interest
and additional  interest of $1.13  million.  Upon FFCA's payoff of the loan, the
Registrant  recognized  the sale of the  original  FFCA  land  parcel.  The $8.5
million loan payoff included  approximately  $900,000 of land sale proceeds. The
original cost of the FFCA parcel was approximately $788,000, resulting in a gain
of  approximately  $112,000.  Distributions  payable from the parcel sale to the
unaffiliated third party and the loan principal payoff amounted to approximately
$16.7 million for the period.

     At July 27, 2000, the three remaining land parcels (approximately 17 acres)
were all  under  contract  for sale at  prices  aggregating  approximately  $9.2
million.  The original cost of these three parcels  totaled  approximately  $3.5
million.  Two of the parcels are under contract with unaffiliated  third parties
and one parcel is under  contract with FFCA.  The FFCA contract was entered into
on February 7, 2000, to purchase a parcel  (approximately 3.6 acres) adjacent to
its corporate headquarters.  This related party sale has been approved by a vote
of the  limited  partners  of the  Partnership.  Since  the  contracts  with the
unaffiliated  parties are subject to a due  diligence  process,  the  Registrant
cannot predict which, if any, of the contracts will result in the sale of a land
parcel or the timing or the amount of any future  cash  distributions.  Once the
remaining  parcels are sold, the  Partnership  will liquidate and distribute its
assets in accordance with the partnership agreement.

     Revenues totaled approximately $11.1 million for the quarter ended June 30,
2000 as compared to approximately  $234,000 for the comparable  quarter in 1999.
Total revenues for the six months ended June 30, 2000 were  approximately  $18.1
million as  compared  to  approximately  $471,000  for the same  period in 1999.
Revenues in 2000 were higher  because land sales  comprised  the majority of the
revenues  in 2000 and there  were no land  sales  during the first six months of
1999.  Interest  income  on the  loan  to an  affiliate  had a net  decrease  of
approximately  $142,000 as compared to the second  quarter of the prior year due
to the payoff of the loan on May 1, 2000,  resulting in the Registrant receiving
one  month's  interest  during the  quarter  as  compared  to a full  quarter of
interest reported in the comparable quarter of 1999. The payoff of the FFCA loan
to the Registrant also resulted in payment of additional interest from affiliate

                                       5
<PAGE>
of approximately $1.13 million. Interest on investments and other income for the
period  increased by approximately  $214,000 from the comparable  quarter of the
prior year due to the increase in temporary  investment  securities  held during
the period. The higher cash balance in 2000 resulted from net land sale proceeds
held  during  the  quarter  prior to  distribution  of the  cash to the  limited
partners.  Total  expenses  (excluding  the cost of land  sales) for the quarter
ended June 30, 2000  decreased  by  approximately  $70,000  from the  comparable
quarter of the prior year.  Year to date  expenses  (excluding  the cost of land
sales) show a similar  decrease  from the  comparable  period of the prior year.
These  decreases  were  primarily due to lower  property taxes and lower general
partner fees.  Property  taxes  decreased  due to the sale of land parcels.  The
general  partner fee decreased  from the  comparable  period  because the fee is
based on Assets Under Management,  as defined in the partnership agreement,  and
as  parcels  are sold the  general  partner  fee is reduced  accordingly.  These
reductions  were  partially  offset by an increase in costs related to the proxy
statement filed in April 2000.

     In the opinion of management,  the financial  information  included in this
report  reflects  all  adjustments  necessary  for fair  presentation.  All such
adjustments are of a normal recurring nature.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

     The financial  instruments  held by the Registrant at June 30, 2000 consist
of cash equivalents. The Registrant intends to hold the investments to maturity;
therefore,  these  financial  instruments  do not  subject the  Registrant  to a
material exposure to changes in interest rates.


                          PART II - OTHER INFORMATION

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     A Notice of Consent Solicitation and a Consent Solicitation Statement, both
dated  May 12,  2000,  were  sent  to the  investors.  No  meeting  was  held in
connection with the Consent Solicitation or Consent Solicitation Statement.  The
following  table sets forth each of the items that the  investors  were asked to
vote upon and the results of the vote as of June 26, 2000, the date on which the
Consent Solicitation was terminated:

               Proposal                                            Results
               --------                                            -------
1.   A proposal to sell a parcel of land to a                 For         26,873
     related party                                            Against      1,186
                                                              Abstain        722

2.   A proposal to terminate and liquidate the                For         27,800
     Partnership when all remaining unsold parcels            Against        390
     have been sold.                                          Abstain        591


                                       6
<PAGE>
                     FFCA INVESTOR SERVICES CORPORATION 88-B

                          BALANCE SHEET - JUNE 30, 2000


                                     ASSETS

Cash                                                                        $100
Investment in Scottsdale Land Trust Limited Partnership, at cost             100
                                                                           -----

         Total Assets                                                      $ 200
                                                                           =====

                                    LIABILITY

Payable to Parent                                                          $ 100
                                                                           -----

                              STOCKHOLDER'S EQUITY

Common Stock; $l par value; 100 shares authorized,
  issued and outstanding                                                     100
                                                                           -----

         Liability and Stockholder's Equity                                $ 200
                                                                           =====

     Note:  FFCA  Investor  Services  Corporation  88-B (88-B) was  organized on
August 11, 1987 to act as the assignor  limited partner in Scottsdale Land Trust
Limited  Partnership  (SLT). The assignor limited partner is the owner of record
of the limited partnership units of SLT. All rights and powers of 88-B have been
assigned to the holders,  who are the registered  and  beneficial  owners of the
units.  Other  than to  serve as  assignor  limited  partner,  88-B has no other
business purpose and will not engage in any other activity or incur any debt.

                                       7
<PAGE>
                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant has caused this report to be signed on its behalf by the  undersigned
thereunto duly authorized.

                                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                                    By FFCA MANAGEMENT COMPANY LIMITED
                                       PARTNERSHIP
                                       General Partner


                                    By PERIMETER CENTER MANAGEMENT COMPANY
                                       Corporate General Partner


Date: August 4, 2000                By /s/ John Barravecchia
                                       -----------------------------------------
                                       John Barravecchia, Executive Vice
                                       President, Treasurer and Chief Financial
                                       Officer

                                       8
<PAGE>
                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
co-registrant  has  caused  this  report  to be  signed  on  its  behalf  by the
undersigned thereunto duly authorized.

                                    FFCA INVESTOR SERVICES CORPORATION 88-B


Date: August 4, 2000                By /s/ John Barravecchia
                                       -----------------------------------------
                                       John Barravecchia, President, Secretary
                                       and Treasurer, Chief Financial Officer

                                       9