<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