<ARTICLE> 5
<RESTATED> 
<CIK> 0000102438
<NAME> USP REAL ESTATE INVESTMENT TRUST
       
                                                  
<PERIOD-TYPE>                   3-MOS                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1994             DEC-31-1994
<PERIOD-END>                               MAR-31-1995             DEC-31-1994
<CASH>                                       1,055,430               2,086,511
<SECURITIES>                                         0                       0
<RECEIVABLES>                                  845,893                 636,536
<ALLOWANCES>                                   102,465                 100,744
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                             2,323,701               3,095,989
<PP&E>                                      39,651,566              39,651,566
<DEPRECIATION>                               9,930,926               9,726,767
<TOTAL-ASSETS>                              33,351,185              34,333,593
<CURRENT-LIABILITIES>                        1,093,495                 867,007
<BONDS>                                     15,614,927              16,853,303
<COMMON>                                     3,880,000               3,880,000
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<OTHER-SE>                                  12,762,763              12,733,283
<TOTAL-LIABILITY-AND-EQUITY>                33,351,185              34,333,593
<SALES>                                              0                       0
<TOTAL-REVENUES>                             1,423,777               6,179,495
<CGS>                                                0                       0
<TOTAL-COSTS>                                  604,972               2,888,729
<OTHER-EXPENSES>                               109,361                 403,044
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                             408,364               1,953,117
<INCOME-PRETAX>                                301,080               1,723,193
<INCOME-TAX>                                         0                       0
<INCOME-CONTINUING>                            301,080               1,723,193
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                   301,080               1,723,193
<EPS-PRIMARY>                                      .08                     .44
<EPS-DILUTED>                                      .08                     .44