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, 1999

[ ]  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, 1999 AND DECEMBER 31, 1998
                                   (Unaudited)


                                                    June 30,       December 31,
                                                      1999             1998
                                                  ------------     ------------
                                     ASSETS
LAND:
  Held for sale                                   $ 10,286,157     $ 12,486,444
  Subject to sale agreements                         5,262,658        3,062,371
  Subject to sale agreement with affiliate             788,287          788,287
                                                  ------------     ------------
    Total land                                      16,337,102       16,337,102

LOAN RECEIVABLE FROM AFFILIATE                       7,598,415        7,598,415

CASH AND CASH EQUIVALENTS                            2,023,080        2,292,149

PREPAID EXPENSES AND OTHER                             187,102          254,702
                                                  ------------     ------------
    Total assets                                  $ 26,145,699     $ 26,482,368
                                                  ============     ============

                       LIABILITIES AND PARTNERS' CAPITAL

DISTRIBUTION PAYABLE TO LIMITED PARTNERS          $        307     $    441,307

ACCOUNTS PAYABLE AND ACCRUED EXPENSES                  204,170          198,193
                                                  ------------     ------------
    Total liabilities                                  204,477          639,500
                                                  ------------     ------------
PARTNERS' CAPITAL (DEFICIT):
  General partner                                       (6,543)          (7,527)
  Limited partners                                  25,947,765       25,850,395
                                                  ------------     ------------
    Total partners' capital                         25,941,222       25,842,868
                                                  ------------     ------------
    Total liabilities and partners' capital       $ 26,145,699     $ 26,482,368
                                                  ============     ============
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF OPERATIONS
            FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)


<TABLE>
<CAPTION>
                                     Three Months   Three Months   Six Months    Six Months
                                        Ended          Ended         Ended         Ended
                                       6/30/99        6/30/98       6/30/99       6/30/98
                                      ----------     ----------    ----------    ----------
<S>                                   <C>            <C>           <C>           <C>
REVENUES:
  Land sales                           $      --     $1,093,825     $      --    $2,871,073
  Interest on loan to affiliate          212,500        212,500       425,000       425,000
  Interest on investments and other       21,323         33,467        46,336        82,345
                                       ---------     ----------     ---------    ----------
                                         233,823      1,339,792       471,336     3,378,418
                                       ---------     ----------     ---------    ----------

EXPENSES:
  Cost of land sales                          --        675,929            --     1,758,434
  General partner fees                    62,536         65,585       124,386       132,071
  Property management fees                 9,000          9,000        18,000        18,000
  Marketing                                2,836          6,917         8,549        10,071
  Property taxes                          38,634         35,803        89,429        68,898
  Other operating                         77,203         72,535       132,618       133,011
                                       ---------     ----------     ---------    ----------
                                         190,209        865,769       372,982     2,120,485
                                       ---------     ----------     ---------    ----------
NET INCOME                             $  43,614     $  474,023     $  98,354    $1,257,933
                                       =========     ==========     =========    ==========

NET INCOME ALLOCATED TO:
  General partner                      $     436     $      561     $     984    $    1,453
  Limited partners                        43,178        473,462        97,370     1,256,480
                                       ---------     ----------     ---------    ----------
                                       $  43,614     $  474,023     $  98,354    $1,257,933
                                       =========     ==========     =========    ==========

NET INCOME PER LIMITED
  PARTNERSHIP UNIT (based on 50,000
  units held by limited partners)      $     .86     $     9.47     $    1.95    $    25.13
                                       =========     ==========     =========    ==========
</TABLE>
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL
                     FOR THE SIX MONTHS ENDED JUNE 30, 1999
                                   (Unaudited)

                                              Limited Partners
                               General    -----------------------
                               Partner      Number                     Total
                               Amount      of Units     Amount         Amount
                              ---------    --------   -----------    -----------
BALANCE, December 31, 1998    $ (7,527)     50,000    $25,850,395    $25,842,868

  Net Income                       984          --         97,370         98,354
                              --------      ------    -----------    -----------
BALANCE, June 30, 1999        $ (6,543)     50,000    $25,947,765    $25,941,222
                              ========      ======    ===========    ===========
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF CASH FLOWS
                 FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)


                                                        1999           1998
                                                     -----------    -----------
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                         $    98,354    $ 1,257,933
  Adjustments to net income:
    Change in assets and liabilities:
      Decrease in land held for sale                   2,200,287        913,036
      Decrease (increase) in land subject
        to sales agreements                           (2,200,287)       578,404
      Decrease in prepaid expenses and other              67,600         16,961
      Increase in accounts payable and accrued
        expenses                                           5,977          5,070
                                                     -----------    -----------
        Net cash provided by operating activities        171,931      2,771,404
                                                     -----------    -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Limited partner distributions declared                      --     (2,604,079)
  Decrease in distribution payable                      (441,000)    (3,229,921)
                                                     -----------    -----------
        Net cash used in financing activities           (441,000)    (5,834,000)
                                                     -----------    -----------
NET DECREASE IN CASH AND CASH EQUIVALENTS               (269,069)    (3,062,596)

CASH AND CASH EQUIVALENTS, beginning of period         2,292,149      5,844,446
                                                     -----------    -----------
CASH AND CASH EQUIVALENTS, end of period             $ 2,023,080    $ 2,781,850
                                                     ===========    ===========
<PAGE>
PART I - FINANCIAL INFORMATION

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.
Pursuant to the loan agreement,  FFCA makes monthly payments of interest only to
the Registrant and is current on such payments.  The entire principal balance of
the loan is due in May 2000,  or earlier  if all of The  Perimeter  Center  land
parcels are sold prior to that date.  When the Registrant  receives full payment
on the loan, the cash proceeds will be  distributed  to the limited  partners in
accordance with the partnership agreement,  net of cash reserves, if any, needed
for  future  operations  of  the  Registrant.  Cash  reserves  remaining  in the
Registrant at June 30, 1999 total approximately $1.9 million. These reserves may
be used from time to time to pay amounts  assessed by the city or county  taxing
authorities for  developmental or other costs. The Registrant's  primary sources
of revenue are land sales,  interest  payments received from FFCA under the loan
agreement 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.

     During the quarter ended June 30, 1999 (the period),  the Registrant closed
no land sale transactions; therefore, there were no cash distributions declared.
At June 30, 1999,  the  Registrant  had five parcels of land  (approximately  25
acres)  under  contract for sale,  at a price  aggregating  approximately  $11.7
million,  to four  unaffiliated  third parties.  The original cost of these five
parcels totaled  approximately $5.3 million. One of these parcels,  representing
4.5 acres,  was sold subsequent to June 30, 1999 for  approximately  $2 million.
The parcel had a total original cost of  approximately  $890,000 and closing and
other costs of  approximately  $135,000.  This parcel sale resulted in a gain in
July 1999 totaling approximately $1 million.

     Approximately  60 acres  (excluding the parcels in escrow) remain available
for sale and the Registrant has entered into  preliminary  negotiations  for the
sale of several of the remaining land parcels.  The Registrant  cannot determine
which,  if any, of these  negotiations  will result in the sale of a land parcel
and,  therefore,  cannot  predict  the  timing  or  amount  of any  future  cash
distributions.

     Total revenues were  approximately  $234,000 for the quarter ended June 30,
1999 as compared to  approximately  $1.3 million for the  comparable  quarter in
1998.  Total revenues for the six months ended June 30, 1999 were  approximately
$471,000 as compared to approximately  $3.4 million for the same period in 1998.
Revenues in 1998 were higher  because land sales  comprised  the majority of the
revenues  in 1998.  Interest  on  investments  and other  income  for the period
decreased by approximately  $12,000 from the comparable period of the prior year
due to the decrease in temporary  investment  securities held during the quarter
ended June 30, 1999. The higher cash balance in 1998 resulted from net land sale
proceeds  held  during that  quarter  prior to  distribution  of the cash to the
limited partners. Year-to-date amounts were similarly affected.

     Total  expenses  (excluding  the cost of land sales) for the quarter  ended
June  30,  1999  were  comparable  to the  prior  year.  Year to  date  expenses
(excluding the cost of land sales)  increased by  approximately  $11,000 for the
six month period over the  comparable  period of the prior year due primarily to
an increase in property taxes which was offset somewhat by a decrease in general
partner fees. Property taxes increased,  despite the sale of land parcels during
the past twelve months,  due to higher assessed land values. The general partner
fee  decreased  during the six month  period over the  comparable  period of the
prior year  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.
<PAGE>
     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, 1999 consist
of cash  equivalents  and a loan  receivable  from an affiliate.  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.
<PAGE>
                     FFCA INVESTOR SERVICES CORPORATION 88-B

                          BALANCE SHEET - JUNE 30, 1999


                                     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.
<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, 1999                By /s/ John Barravecchia
                                    --------------------------------------------
                                    John Barravecchia, Executive Vice President,
                                    Treasurer and Chief Financial Officer
<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, 1999                By /s/ John Barravecchia
                                    --------------------------------------------
                                    John Barravecchia, President, Secretary and
                                    Treasurer