<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED BALANCE SHEET AND STATEMENT OF OPERATIONS FOR VININGS INVESTMENT PROPERTIES TRUST FOR THE PERIOD ENDED JUNE 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS AS CONTAINED IN THE QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 1996. </LEGEND> <MULTIPLIER> 1 <CURRENCY> US DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <EXCHANGE-RATE> 1 <CASH> 441,458 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 11,409,618 <DEPRECIATION> 412,632 <TOTAL-ASSETS> 11,912,297 <CURRENT-LIABILITIES> 0 <BONDS> 8,960,104 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 2,508,142 <TOTAL-LIABILITY-AND-EQUITY> 11,912,297 <SALES> 0 <TOTAL-REVENUES> 169,281 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 296,630 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (127,349) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (127,349) <EPS-PRIMARY> (.01) <EPS-DILUTED> 0