<ARTICLE>  5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL EXTRACTED FROM THE FINANCIAL STATEMENTS
OF CAPITAL TRUST FOR THE YEAR ENDED DECEMBER 31, 1997 AND IS QUALIFIED IN 
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>

<MULTIPLIER>   1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   DEC-31-1997
<CASH>                                              49,268
<SECURITIES>                                        61,465
<RECEIVABLES>                                      202,784
<ALLOWANCES>                                           462
<INVENTORY>                                              0
<CURRENT-ASSETS>                                     3,954
<PP&E>                                                 450
<DEPRECIATION>                                          93
<TOTAL-ASSETS>                                     317,366
<CURRENT-LIABILITIES>                                5,718
<BONDS>                                            168,359
<PREFERRED-MANDATORY>                               12,268
<PREFERRED>                                              0
<COMMON>                                            18,157
<OTHER-SE>                                         112,864
<TOTAL-LIABILITY-AND-EQUITY>                       317,366
<SALES>                                                  0
<TOTAL-REVENUES>                                     8,450
<CGS>                                                    0
<TOTAL-COSTS>                                       12,058
<OTHER-EXPENSES>                                       432
<LOSS-PROVISION>                                       462
<INTEREST-EXPENSE>                                       0
<INCOME-PRETAX>                                     (4502)
<INCOME-TAX>                                            55
<INCOME-CONTINUING>                                (4,557)
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                        (4557)
<EPS-PRIMARY>                                       (0.63)
<EPS-DILUTED>                                       (0.63)