<ARTICLE> 5

<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S FORM 10-Q FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1994 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
INCLUDED IN SUCH REPORT.
</LEGEND>

<CIK>   0000789950
<NAME>  CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI


       
                           
<PERIOD-TYPE>                 QTR-3
<FISCAL-YEAR-END>             DEC-31-1994
<PERIOD-END>                  SEP-30-1994

<CASH>                             $  1,142,080 
<SECURITIES>                         14,011,637 
<RECEIVABLES>                           702,738 
<ALLOWANCES>                                  0     
<INVENTORY>                                   0     
<CURRENT-ASSETS>                     15,874,455 
<PP&E>                               60,002,580 
<DEPRECIATION>                      (11,517,112)
<TOTAL-ASSETS>                       70,132,877 
<CURRENT-LIABILITIES>                (2,068,554)
<BONDS>                             (41,928,883)
<COMMON>                                      0     
<PREFERRED-MANDATORY>                         0     
<PREFERRED>                                   0     
<OTHER-SE>                            3,800,526 
<TOTAL-LIABILITY-AND-EQUITY>        (70,132,877)
<SALES>                              (7,588,153)
<TOTAL-REVENUES>                     (8,167,031)
<CGS>                                         0     
<TOTAL-COSTS>                         4,976,527 
<OTHER-EXPENSES>                        529,341 
<LOSS-PROVISION>                              0     
<INTEREST-EXPENSE>                    3,834,170 
<INCOME-PRETAX>                       1,173,007 
<INCOME-TAX>                                  0     
<INCOME-CONTINUING>                   8,224,079 
<DISCONTINUED>                                0     
<EXTRAORDINARY>                               0     
<CHANGES>                                     0     
<NET-INCOME>                          8,224,079 
<EPS-PRIMARY>                            (56.25)
<EPS-DILUTED>                                 0