What Tower Realty Partners does

Tower Realty Partners is a privately held, vertically integrated commercial real estate owner-operator founded in 1987 and headquartered in Orlando, Florida. The firm executes a value-add investment strategy focused on identifying underperforming office assets in high-growth Florida Sunbelt markets, repositioning them through in-house asset management, property management, leasing, and construction management, and operating them to deliver risk-adjusted returns. Across 17 properties spanning Orlando, Tampa, St. Petersburg, Sarasota, Maitland, Lake Mary, and Winter Park, the firm has acquired, developed, or managed 25 million+ square feet of commercial real estate, with 6 million+ square feet currently under management. Co-founders Cliff Stein and Reid Berman remain active principals more than 37 years after founding, supported by an 80+ person team with an average tenure of 12 years.

The firm's revenue model combines asset management and property management fees on its owned and JV portfolios, leasing commissions on tenant transactions, construction management fees on capital improvement projects, and promote participation from value-add acquisitions executed through joint ventures with institutional capital partners including Goldman Sachs, New York Life, DRA Advisors, City Office REIT, and Trigate Capital. The portfolio has produced a 43.75% property-level average annual IRR during the 2010-2020 value-add acquisition cycle and 33.8% during the 2006-2007 disposal cycle. The platform has expanded through a dedicated Tower Realty Healthcare sub-brand serving medical office buildings, freestanding emergency rooms, and ambulatory surgery centers, and most recently through a joint venture with Property Markets Group, Feldman Equities, and City Office REIT on the 49-story Waldorf Astoria Residences luxury condominium development in downtown St. Petersburg. Customer segments include commercial office tenants across healthcare, technology, and professional services, as well as institutional investors and family offices seeking Florida-Sunbelt value-add exposure.

Name

Tower Realty Partners

Legal name

Tower Realty Partners, Inc.

Website

https://trpcre.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

Tower Realty Partners is a privately held, vertically integrated commercial real estate firm specializing in value-add investments and property management across Florida markets. Founded in 1987, it serves institutional capital partners and office tenants with 6M+ SF under management.

Ownership category

akta.pro rank

Headquarters

HQ city

Orlando

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Asset Management: Value-add commercial real estate investments with focus on acquiring, repositioning, and operating assets to achieve exceptional risk-adjusted returns
2. Property Management: Full-service property management including leasing, accounting, and construction management for commercial office properties
3. Leasing Services: Commercial office space leasing with tenant representation and broker cooperation
4. Construction Management: In-house construction management for renovation and capital improvement projects

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Tower Realty Partners is a vertically integrated commercial real estate owner-operator that acquires, repositions, and manages Class A office properties across Florida markets. The firm executes value-add investment strategies and delivers in-house asset management, property management, leasing, and construction management services to institutional partners and commercial tenants. Its portfolio spans 17 properties totaling 6M+ square feet under management in Orlando, Tampa, St. Petersburg, Sarasota, Maitland, Lake Mary, and Winter Park.

Product overview

Tower Realty Partners is a vertically integrated commercial real estate organization specializing in value-add investment opportunities and property management across Florida markets. The company operates a unified service platform combining property management, leasing, construction management, and asset management services. Key offerings include the core Commercial Property Management and Investment platform, specialized Tower Realty Healthcare division for medical office buildings and healthcare facilities, and a portfolio of 17+ commercial office properties across Central Florida markets (Maitland, Orlando, Tampa, St. Petersburg, Sarasota, Lake Mary). Services include asset management, property management, leasing, accounting, and construction management delivered through in-house teams.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Property Management Full-service commercial property management including asset management, property management, leasing, accounting, and construction management for office properties across Florida markets. Targets owners and institutional partners seeking comprehensive property operations.
• Investment & Asset Management Value-add investment strategy focused on identifying underperforming assets, acquiring, repositioning, and operating them to deliver exceptional risk-adjusted returns. Manages approximately 6 million square feet of assets under management for institutional partners.
• Leasing Services In-house leasing services for commercial office properties, including tenant representation and finding solutions for customer service requests. Handles lease transactions and manages availabilities across the portfolio.
• Construction Management In-house construction management capabilities for property renovations and capital improvement projects including lobby renovations, corridor upgrades, fitness centers, and building system modernizations.
• Tower Realty Healthcare Dedicated healthcare real estate platform offering development, ownership, management, and leasing of Medical Office Buildings (MOBs), freestanding Emergency Rooms, and Ambulatory Surgery Centers. Provides end-to-end support including site selection, development, construction, and ongoing management for health systems, physician groups, and healthcare operators.
• Florida Office Property Portfolio Portfolio of 17 commercial office properties across Florida markets including Maitland (Maitland Green I & II, Maitland Colonnades, Maitland 100, 555 Winderley, 901 Maitland Center), Orlando (111 North Orange Avenue, Discovery Point, Quorum Center, Bay Colony, Research Pointe II), Tampa (Wells Fargo Center, Palm Lake), St. Petersburg (First Central Tower, Morgan Stanley Tower, Castille at Carillon), Sarasota (Sarasota City Center), and Lake Mary (Contact Pointe, Shoppes of Lake Mary, Winter Park Business Center).

Quantifiable outcome

• Achieved 43.75% property level average annual IRR during 2010-2020 value-add acquisition period
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Property Markets GroupcoreStrategic or Co-development Partner · 29 October 2024Miami-based real estate developer and joint venture partner on Waldorf Astoria Residences St. Petersburg project (49-story luxury condominium tower)
• Feldman EquitiescoreStrategic or Co-development Partner · 29 October 2024Real estate firm and owner of adjacent City Center office building, joint venture partner on Waldorf Astoria Residences project and multiple other properties

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Cushman & Wakefield: Global commercial real estate services firm offering agency leasing, property management, capital markets, and investment advisory across all major U.S. metros including Florida. Comparable across leasing and asset management, though with global rather than regional focus.
• Colliers International: Global commercial real estate services firm providing investment sales, leasing, property management, and valuation. Comparable across leasing and property management services with a meaningful Florida presence, though at much larger scale.
• CBRE Group: Global commercial real estate services and investment firm offering brokerage, property management, valuation, and investment sales across all asset classes. Comparable in office investment sales, leasing, and property management activities, though at vastly larger scale and broader geographic reach.
• JLL (Jones Lang LaSalle): Global real estate services and investment management firm with deep Florida presence in office leasing, property management, and capital markets. Comparable across all of Tower's core service lines but at enterprise scale across hundreds of markets.
• Marcus & Millichap: National commercial real estate investment sales firm with a major focus on office and multifamily investment transactions. Comparable in the investment sales / capital markets layer that Tower operates in for value-add office acquisitions.
• Newmark Group: Commercial real estate investment sales, leasing, and advisory firm with significant Florida office capital markets activity. Comparable in office leasing and capital markets services for institutional and private clients.
• Lincoln Property Company: National commercial real estate firm operating one of the largest property management platforms in the U.S., with significant office and mixed-use exposure in the Southeast. Comparable in third-party property management and office operations, though diversified nationally and across asset classes.

Direct peers

• Foundry Commercial: Florida-based, full-service commercial real estate firm providing brokerage, property management, and investment services across the Southeast. Most direct comparable to Tower given shared Florida footprint, office focus, and vertically integrated service model.
• Stiles Corporation: Florida-headquartered, vertically integrated commercial real estate firm doing development, leasing, property management, and investment in office, industrial, and retail. Comparable in geographic focus (Florida), vertically integrated model, and owner-operator approach.

Regional players

• Berger Commercial Realty: Long-established Florida commercial real estate brokerage and property management firm serving South Florida. Comparable in CRE services and Florida focus, though more brokerage-weighted and South Florida-centric versus Tower's Central Florida tilt.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights3 records

Customer concentration

• Xx.com/towercre
• Facebookfacebook.com/towerrealtypartners
• LinkedInlinkedin.com/company/tower-realty-partners-inc-
• Instagraminstagram.com/towercre

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tower Realty Partners