<ARTICLE>                     5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM RETAIL EQUITY
PARTNERS LIMITED PARTNERSHIP  FINANCIAL  STATEMENTS AS OF AND FOR THE YEAR ENDED
DECEMBER  31,  1996,  AND IS  QUALIFIED  IN ITS  ENTIRETY BY  REFERENCE  TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
       
                                         
<PERIOD-TYPE>                               YEAR
<FISCAL-YEAR-END>                           DEC-31-1996
<PERIOD-START>                              JAN-01-1996
<PERIOD-END>                                DEC-31-1996
<CASH>                                          119,440 
<SECURITIES>                                          0 
<RECEIVABLES>                                    63,925 
<ALLOWANCES>                                          0 
<INVENTORY>                                           0 
<CURRENT-ASSETS>                                237,397 
<PP&E>                                        7,922,196 
<DEPRECIATION>                              (1,697,749) 
<TOTAL-ASSETS>                                6,490,838 
<CURRENT-LIABILITIES>                            76,409 
<BONDS>                                       6,874,644 
<COMMON>                                              0 
<PREFERRED-MANDATORY>                                 0 
<PREFERRED>                                           0 
<OTHER-SE>                                    (460,215) 
<TOTAL-LIABILITY-AND-EQUITY>                  6,490,838 
<SALES>                                               0 
<TOTAL-REVENUES>                              1,108,351 
<CGS>                                                 0 
<TOTAL-COSTS>                                   491,339 
<OTHER-EXPENSES>                                 71,329 
<LOSS-PROVISION>                                      0 
<INTEREST-EXPENSE>                              696,171 
<INCOME-PRETAX>                               (150,488) 
<INCOME-TAX>                                          0 
<INCOME-CONTINUING>                           (150,488) 
<DISCONTINUED>                                        0 
<EXTRAORDINARY>                                       0 
<CHANGES>                                             0 
<NET-INCOME>                                  (150,488) 
<EPS-PRIMARY>                                    (0.45) 
<EPS-DILUTED>                                         0