<ARTICLE>                     5
<LEGEND>
THE SCHEDULE CONTAINS FUMMARY FINANCIAL INFORMATION EXTRACTED FROM RETAIL EQUITY
PARTNERS LIMITED PARTNERSHIP  FINANCIAL STATEMENTS AS OF AND FOR THE NINE MONTHS
ENDED  SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                              DEC-31-1996
<PERIOD-START>                                 JAN-01-1996
<PERIOD-END>                                   SEP-30-1996
<CASH>                                             117,675
<SECURITIES>                                             0
<RECEIVABLES>                                       43,130
<ALLOWANCES>                                             0
<INVENTORY>                                              0
<CURRENT-ASSETS>                                   254,036
<PP&E>                                           7,922,196
<DEPRECIATION>                                  (1,653,138)
<TOTAL-ASSETS>                                   6,556,873
<CURRENT-LIABILITIES>                              122,367
<BONDS>                                          6,889,314
<COMMON>                                                 0
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                              0
<OTHER-SE>                                        (454,808)
<TOTAL-LIABILITY-AND-EQUITY>                     6,556,873
<SALES>                                                  0
<TOTAL-REVENUES>                                   835,641
<CGS>                                                    0
<TOTAL-COSTS>                                      362,486
<OTHER-EXPENSES>                                    80,831
<LOSS-PROVISION>                                         0
<INTEREST-EXPENSE>                                 537,405
<INCOME-PRETAX>                                   (145,081)
<INCOME-TAX>                                             0
<INCOME-CONTINUING>                               (145,081)
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                      (145,081)
<EPS-PRIMARY>                                        (0.43)
<EPS-DILUTED>                                            0