Orlando Business Journal's 2025 Deal of the Year
Winter park, FL | february 3, 2025

As seen on Orlando Business Journal. Read more here.
Company: Owens Realty Services
Title: President and CEO
Sector: Commercial real estate
Your top deal in the past 12 months:
In the past 12 months, our top deal was the sale of Hannibal Square I and II to Demetree Global, achieving combined sales of $55.4 million. Hannibal Square I, acquired for $10.15 million in 2012, was sold for $20.7 million, featuring 31 apartments, 20,000 square feet of office, and 25,000 square feet of retail space. Hannibal Square II, purchased in 2016 for $28.175 million, sold for $34.7 million, comprising 72 apartments and 67,000 square feet of commercial space. With a price of $293.57 per square foot, the transaction underscores our strategic vision, delivering substantial returns while requiring minimal additional capital investment.
Biggest deal challenge overcome in past 12 months:
In the sale of Hannibal Square I and II, [we overcame] managing tenant turnover during the Covid-19 pandemic. The properties faced disruptions as businesses adapted to changing market conditions, impacting occupancy rates and revenue. To address this, we implemented proactive tenant engagement strategies, offered flexible leasing solutions, and enhanced property features to attract high-quality tenants. These efforts stabilized operations and preserved the value of the assets. Successfully navigating this period required adaptability, innovation, and a commitment to maintaining asset performance, ultimately leading to a highly favorable sale outcome.
Lessons learned from your deal of the year:
The sale of Hannibal Square I and II taught us the value of long-term vision and strategic investment. Early recognition of the potential in Winter Park allowed us to enhance these mixed-use properties, maximizing their appeal and market value. Navigating tenant turnover post Covid-19 reinforced the importance of adaptability and proactive management in maintaining asset performance. Timing the sale to capitalize on favorable market conditions highlighted the critical role of market analysis in achieving optimal returns. This deal emphasized the importance of strategic enhancements, robust management, and leveraging market insights to deliver exceptional value to investors and stakeholders.
Advice to others:
Approach each investment with a long-term vision and a commitment to adding value. Understand your market, anticipate trends to buy low and position assets strategically to maximize investor returns. Always prioritize adaptability — challenges like tenant turnover or economic shifts require creative solutions and proactive management. Build strong relationships with tenants and stakeholders, as collaboration often drives success. Finally, stay focused on delivering quality and maintaining integrity in every transaction. These principles have been key to our success and can guide others in achieving sustainable growth and exceptional results.