<ARTICLE>  5 
<LEGEND>  
This schedule contains summary financial information extracted from financial
statements, schedules and other disclosure contained in Form 10-Q for the period
ended March 31, 1997 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>                                                   6-MOS
<FISCAL-YEAR-END>                                          SEP-30-1997
<PERIOD-END>                                               MAR-31-1997
<CASH>                                                      15849
<SECURITIES>                                                    0
<RECEIVABLES>                                                   0
<ALLOWANCES>                                                    0
<INVENTORY>                                                     0
<CURRENT-ASSETS>                                                0
<PP&E>                                                     282832
<DEPRECIATION>                                              81818
<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>                                            39212
<CGS>                                                           0
<TOTAL-COSTS>                                               22813
<OTHER-EXPENSES>                                             9875
<LOSS-PROVISION>                                                0
<INTEREST-EXPENSE>                                          20378
<INCOME-PRETAX>                                            (13854)
<INCOME-TAX>                                                    0
<INCOME-CONTINUING>                                             0
<DISCONTINUED>                                                  0
<EXTRAORDINARY>                                                 0
<CHANGES>                                                       0
<NET-INCOME>                                                    0
<EPS-PRIMARY>                                                   0
<EPS-DILUTED>                                                   0