<ARTICLE> 5 <CIK> 0000804138 <NAME> ASSET INVESTORS COMPANY <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> SEP-30-1999 <CASH> 1,604 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,234 <PP&E> 115,748 <DEPRECIATION> (6,205) <TOTAL-ASSETS> 159,578 <CURRENT-LIABILITIES> 4,060 <BONDS> 55,456 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 56 <OTHER-SE> 84,620 <TOTAL-LIABILITY-AND-EQUITY> 159,578 <SALES> 0 <TOTAL-REVENUES> 13,953 <CGS> 0 <TOTAL-COSTS> 8,885 <OTHER-EXPENSES> 393 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,853 <INCOME-PRETAX> 1,822 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,822 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,822 <EPS-BASIC> 0.33 <EPS-DILUTED> 0.33