<ARTICLE>                     5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM RETAIL EQUITY
PARTNERS LIMITED PARTNERSHIP FINANCIAL STATEMENTS AS OF AND FOR THE THREE MONTHS
ENDED MARCH 31, 1999, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
       
                                         
<PERIOD-TYPE>                                3-MOS
<FISCAL-YEAR-END>                            DEC-31-1999
<PERIOD-START>                               JAN-01-1999
<PERIOD-END>                                 MAR-31-1999
<CASH>                                         107,874
<SECURITIES>                                         0
<RECEIVABLES>                                    7,652
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               175,410
<PP&E>                                       2,865,958
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               3,041,368
<CURRENT-LIABILITIES>                           54,456
<BONDS>                                      3,317,769
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                    (630,857)
<TOTAL-LIABILITY-AND-EQUITY>                 3,041,368
<SALES>                                              0 
<TOTAL-REVENUES>                               132,266
<CGS>                                                0
<TOTAL-COSTS>                                   20,976
<OTHER-EXPENSES>                               266,471 
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              85,158
<INCOME-PRETAX>                               (240,339)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (240,339)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (240,339)
<EPS-PRIMARY>                                    (0.71)
<EPS-DILUTED>                                    (0.71)