<ARTICLE>  5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL EXTRACTED FROM THE FINANCIAL STATEMENTS
OF CAPITAL TRUST FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>

<MULTIPLIER>   1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   SEP-30-1997
<CASH>                                                4063
<SECURITIES>                                        62,521
<RECEIVABLES>                                       39,022
<ALLOWANCES>                                           155
<INVENTORY>                                              0
<CURRENT-ASSETS>                                     6,511
<PP&E>                                                 384
<DEPRECIATION>                                          51
<TOTAL-ASSETS>                                     112,295
<CURRENT-LIABILITIES>                                2,738
<BONDS>                                             54,188
<PREFERRED-MANDATORY>                               12,268
<PREFERRED>                                              0
<COMMON>                                             9,138
<OTHER-SE>                                          33,963
<TOTAL-LIABILITY-AND-EQUITY>                       112,295
<SALES>                                                  0
<TOTAL-REVENUES>                                     3,713
<CGS>                                                    0
<TOTAL-COSTS>                                        5,579
<OTHER-EXPENSES>                                       432
<LOSS-PROVISION>                                       155
<INTEREST-EXPENSE>                                       0
<INCOME-PRETAX>                                     (2453)
<INCOME-TAX>                                             0
<INCOME-CONTINUING>                                 (2453)
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                        (2453)
<EPS-PRIMARY>                                       (0.34)
<EPS-DILUTED>                                       (0.34)