<ARTICLE> 5
<CIK> 0000785791
<NAME> ASSOCIATED PLANNERS REALTY FUND L.P.
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                           1,333
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                21,541
<PP&E>                                       5,470,743
<DEPRECIATION>                               (989,720)
<TOTAL-ASSETS>                               4,512,353
<CURRENT-LIABILITIES>                           46,419
<BONDS>                                      1,431,100
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                   3,034,834
<TOTAL-LIABILITY-AND-EQUITY>                 4,512,353
<SALES>                                        150,464
<TOTAL-REVENUES>                               544,564
<CGS>                                          108,077
<TOTAL-COSTS>                                  108,077
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              21,767
<INCOME-PRETAX>                                414,720
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   414,720
<EPS-PRIMARY>                                    49.39
<EPS-DILUTED>                                    49.39