<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEET AT MARCH 31, 1999 AND THE RELATED STATEMENT OF OPERATIONS FOR THE THREE
MONTHS ENDED MARCH 31, 1999.
</LEGEND>
<CIK> 0001043236
<NAME> ELDER TRUST
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                           2,060
<SECURITIES>                                         0
<RECEIVABLES>                                   56,460
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 8,923
<PP&E>                                         180,929
<DEPRECIATION>                                   5,881
<TOTAL-ASSETS>                                 274,679
<CURRENT-LIABILITIES>                          101,808
<BONDS>                                         20,507
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            72
<OTHER-SE>                                     111,131
<TOTAL-LIABILITY-AND-EQUITY>                   274,679
<SALES>                                          7,048
<TOTAL-REVENUES>                                 7,048
<CGS>                                                0
<TOTAL-COSTS>                                    2,491
<OTHER-EXPENSES>                                   663
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,935
<INCOME-PRETAX>                                    959
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                959
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       959
<EPS-PRIMARY>                                     0.13
<EPS-DILUTED>                                     0.13