
<TABLE> <S> <C>

<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from financial
statements, schedules and other disclosures contained in Form 10-Q for the
period ended September 30, 1999 of Saul Centers, Inc. and is qualified in its
entirety by reference to such financial statements, schedules and other
disclosure.
</LEGEND>
<MULTIPLIER> 1,000

<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               SEP-30-1999
<CASH>                                           2,304
<SECURITIES>                                         0
<RECEIVABLES>                                    7,186
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         355,465
<DEPRECIATION>                                 109,838
<TOTAL-ASSETS>                                 291,259
<CURRENT-LIABILITIES>                                0
<BONDS>                                        302,511
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           132
<OTHER-SE>                                     (32,737)
<TOTAL-LIABILITY-AND-EQUITY>                   291,259
<SALES>                                              0
<TOTAL-REVENUES>                                54,393
<CGS>                                                0
<TOTAL-COSTS>                                   14,702
<OTHER-EXPENSES>                                 4,636
<LOSS-PROVISION>                                   182
<INTEREST-EXPENSE>                              17,046
<INCOME-PRETAX>                                 15,117
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             15,117
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     9,211
<EPS-BASIC>                                       0.71
<EPS-DILUTED>                                     0.71


</TABLE>
