<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM RETAIL
EQUITY PARTNERS LIMITED PARTNERSHIP'S FINANCIAL STATEMENTS AS OF AND FOR
THE QUARTER ENDED MARCH 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               MAR-31-1995
<CASH>                                         221,711
<SECURITIES>                                         0
<RECEIVABLES>                                   50,697
<ALLOWANCES>                                   (8,860)
<INVENTORY>                                          0
<CURRENT-ASSETS>                               463,549
<PP&E>                                      16,407,921
<DEPRECIATION>                             (2,864,400)
<TOTAL-ASSETS>                              14,110,920
<CURRENT-LIABILITIES>                          334,213
<BONDS>                                     13,009,282
<COMMON>                                             0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     767,425
<TOTAL-LIABILITY-AND-EQUITY>                14,110,920
<SALES>                                              0
<TOTAL-REVENUES>                               479,622
<CGS>                                                0
<TOTAL-COSTS>                                  217,152
<OTHER-EXPENSES>                                26,065
<LOSS-PROVISION>                                10,091
<INTEREST-EXPENSE>                             285,786
<INCOME-PRETAX>                               (49,381)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (49,381)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (49,381)
<EPS-PRIMARY>                                   (0.15)
<EPS-DILUTED>                                        0