<ARTICLE>                     5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM RETAIL EQUITY
PARTNERS LIMITED PARTNERSHIP  FINANCIAL  STATEMENTS AS OF AND FOR THE SIX MONTHS
ENDED JUNE 30,  1996,  AND IS  QUALIFIED  IN ITS  ENTIRETY BY  REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-mos   
<FISCAL-YEAR-END>                              DEC-31-1996
<PERIOD-START>                                 JAN-01-1996
<PERIOD-END>                                   JUN-30-1996
<CASH>                                            152,487
<SECURITIES>                                            0
<RECEIVABLES>                                      34,788
<ALLOWANCES>                                            0
<INVENTORY>                                             0
<CURRENT-ASSETS>                                  258,708
<PP&E>                                          7,896,466
<DEPRECIATION>                                 (1,608,876)
<TOTAL-ASSETS>                                  6,584,877
<CURRENT-LIABILITIES>                             114,650
<BONDS>                                         6,903,649
<COMMON>                                                0
<PREFERRED-MANDATORY>                                   0 
<PREFERRED>                                             0
<OTHER-SE>                                       (433,422)
<TOTAL-LIABILITY-AND-EQUITY>                    6,584,877
<SALES>                                                 0
<TOTAL-REVENUES>                                  577,804
<CGS>                                                   0
<TOTAL-COSTS>                                     258,577
<OTHER-EXPENSES>                                   65,054
<LOSS-PROVISION>                                        0
<INTEREST-EXPENSE>                                377,868
<INCOME-PRETAX>                                  (123,695)
<INCOME-TAX>                                            0
<INCOME-CONTINUING>                              (123,695)
<DISCONTINUED>                                          0
<EXTRAORDINARY>                                         0
<CHANGES>                                               0
<NET-INCOME>                                     (123,695)
<EPS-PRIMARY>                                       (0.37)
<EPS-DILUTED>                                           0