<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>                                   39,002
<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)