<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, 1998, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>                                     
                                                    
                                                  
<PERIOD-TYPE>                                      3-MOS
<FISCAL-YEAR-END>                                  DEC-31-1998
<PERIOD-START>                                     APR-01-1998
<PERIOD-END>                                       JUN-30-1998
<CASH>                                                      119417
<SECURITIES>                                                     0
<RECEIVABLES>                                                19489
<ALLOWANCES>                                                     0
<INVENTORY>                                                      0
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<PP&E>                                                           0
<DEPRECIATION>                                                   0
<TOTAL-ASSETS>                                             6380705
<CURRENT-LIABILITIES>                                       100144
<BONDS>                                                    6779162
<PREFERRED-MANDATORY>                                            0
<PREFERRED>                                                      0
<COMMON>                                                         0
<OTHER-SE>                                                 (498601)
<TOTAL-LIABILITY-AND-EQUITY>                               6380705
<SALES>                                                          0
<TOTAL-REVENUES>                                            513471
<CGS>                                                            0
<TOTAL-COSTS>                                               118575
<OTHER-EXPENSES>                                             42341
<LOSS-PROVISION>                                                 0
<INTEREST-EXPENSE>                                          314441
<INCOME-PRETAX>                                              38114
<INCOME-TAX>                                                     0
<INCOME-CONTINUING>                                          38114
<DISCONTINUED>                                                   0
<EXTRAORDINARY>                                                  0
<CHANGES>                                                        0
<NET-INCOME>                                                 38114
<EPS-PRIMARY>                                                    0.11
<EPS-DILUTED>                                                    0