<ARTICLE> 9
<LEGEND>
This schedule contains summary financial information extracted from financial
statements, schedules and other disclosure contained in Form 10-Q for the period
ended June 30, 2000 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

                                               
<PERIOD-TYPE>                                                9-MOS
<FISCAL-YEAR-END>                                      SEP-30-2000
<PERIOD-END>                                           JUN-30-2000
<CASH>                                                      287969
<INT-BEARING-DEPOSITS>                                           0
<FED-FUNDS-SOLD>                                             55000
<TRADING-ASSETS>                                                 0
<INVESTMENTS-HELD-FOR-SALE>                                      0
<INVESTMENTS-CARRYING>                                       45462
<INVESTMENTS-MARKET>                                         45157
<LOANS>                                                    8134485
<ALLOWANCE>                                                  59638
<TOTAL-ASSETS>                                                   0
<DEPOSITS>                                                 6898278
<SHORT-TERM>                                                882110
<LIABILITIES-OTHER>                                         219719
<LONG-TERM>                                                1672071
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<INTEREST-INVEST>                                            60300
<INTEREST-OTHER>                                             18517
<INTEREST-TOTAL>                                            539965
<INTEREST-DEPOSIT>                                          155674
<INTEREST-EXPENSE>                                          283782
<INTEREST-INCOME-NET>                                       256183
<LOAN-LOSSES>                                                34522
<SECURITIES-GAINS>                                               0
<EXPENSE-OTHER>                                             271828
<INCOME-PRETAX>                                              56011
<INCOME-PRE-EXTRAORDINARY>                                       0
<EXTRAORDINARY>                                                  0
<CHANGES>                                                        0
<NET-INCOME>                                                     0
<EPS-BASIC>                                                    0
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<YIELD-ACTUAL>                                                3.78
<LOANS-NON>                                                  17666
<LOANS-PAST>                                                     0
<LOANS-TROUBLED>                                             11714
<LOANS-PROBLEM>                                                  0
<ALLOWANCE-OPEN>                                             58139
<CHARGE-OFFS>                                                35775
<RECOVERIES>                                                  2752
<ALLOWANCE-CLOSE>                                            59638
<ALLOWANCE-DOMESTIC>                                         59638
<ALLOWANCE-FOREIGN>                                              0
<ALLOWANCE-UNALLOCATED>                                          0