What MÁS Development Group does

MÁS Development Group is a privately held, vertically integrated urban real estate developer headquartered in Elizabeth, New Jersey, founded by Salvador José Garcia in 1999. The firm specializes in identifying underutilized or challenged urban properties — primarily in the Tri-State area of New Jersey, New York, and Connecticut — and executing mixed-use and retail redevelopment strategies. MÁS operates a four-pillar service platform that runs in-house: development (site identification and strategy execution), construction (interior work through ground-up luxury apartments), property management (residential and commercial), and real estate investment. The firm has stated relationships with more than 30 national retail tenants — including Walgreens, Chase, CVS, TD Bank, Subway, Investors Bank, Family Dollar, 7-Eleven, Little Caesars, Rita's, and Northfield Bank — for whom it develops build-to-suit and triple-net-lease retail locations.

The company's project portfolio is anchored by its flagship Vinty Apartments ("Vintage City"), a 345-unit, four-story transit-oriented community adjacent to the Elizabeth NJ Transit station, comprising 25 studios, 175 one-bedroom, and 67 two-bedroom units along with 37,000 sq ft of ground-floor retail and office space, a 274-space parking garage, and amenities that include a pool, gym, co-working zones, food hall, and rooftop greenhouse. The next development in the pipeline is Ecco, a planned 258-unit apartment complex being developed in partnership with LeCesse Development. At larger scale, MÁS has entered a joint venture with Faros Properties for the $55M+ Midtown Elizabeth redevelopment of a five-acre site targeted to deliver 525+ luxury residential units plus approximately 30,000 sq ft of retail. MÁS has cumulatively completed 1,400+ projects and developed 250+ residential units in Union County, with stated recognition including twelve industry awards for construction and development excellence and a GlobeSt Real Estate Forum 50 Under 40 honor for the founder.

The business model combines project-based and recurring revenue. Project-based revenue is generated through development fees and property sales (one-time license economics) and construction services for both internal and external clients. Recurring revenue is generated through property management fees and real estate investment returns (rental income, appreciation, value creation from repositioning). Pricing is project-specific and quote-based rather than standardized. Customer concentration is split across three channels: (a) national retail chains requiring urban build-to-suit locations, (b) development partners for joint-venture capital and scale (Faros Properties, LeCesse Development), and (c) end-user residents in transit-oriented multifamily housing. The company is led by founder Salvador José Garcia and operates with a stated 1–10 employee core team, leveraging partners, joint ventures, and outside contractors for project execution.

Name

MÁS Development Group

Legal name

MÁS Development Group

Website

https://developmas.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

MÁS Development Group is a vertically integrated real estate developer specializing in urban mixed-use and retail properties across the Tri-State area. Founded in 1999 by Salvador García, it builds build-to-suit retail for national brands and transit-oriented multifamily housing.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Lessors of Residential Buildings and Dwellings (53111), Land Subdivision (2372)

SIC

Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Real estate development
• Urban redevelopment
• Mixed-use properties
• Construction services
• Property management

Headquarters

HQ city

Elizabeth

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Development Fees and Property Sales: Revenue generated from developing urban mixed-use and retail properties for sale or long-term ownership. The company identifies underutilized properties, executes development strategies, and either sells completed projects or retains them as investment assets.
2. Construction Services: In-house construction capabilities serving as both a cost center for the company's own developments and a revenue stream from external clients. Construction services span residential, commercial interiors, and ground-up mixed-use projects.
3. Property Management: Ongoing property management services for owned and third-party real estate assets, generating recurring management fee revenue.
4. Real Estate Investment: The company invests in and holds real estate assets, generating returns through appreciation, rental income, and value creation from repositioning underutilized properties.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

MÁS Development Group is a vertically integrated real estate company that identifies underutilized or challenged urban properties and develops them into mixed-use and retail projects, offering in-house capabilities spanning site acquisition, development, construction, property management, and investment. The company specializes in build-to-suit, triple-net-lease retail properties for national brands and transit-oriented multifamily residential communities in the Tri-State area (NJ, NY, CT).

Product overview

MÁS Development Group is a vertically integrated Real Estate company offering a full-service platform of in-house capabilities that span development, construction, property management, and investment for urban mixed-use and retail properties in the Tri-State area. The company's portfolio includes Vinty Apartments (a 345-unit residential community with 37,000 sq ft of retail/office space) and Ecco (an upcoming 258-unit residential project). MÁS specializes in identifying underutilized or challenged properties and executing strategies that create value, while also developing build-to-suit, triple-net-lease properties for national retailers.

Differentiator

Problem solved

Functional benefit

Products and services

• Vinty Apartments A 345-unit upscale mid-rise residential community in West Elizabeth, NJ, featuring studios, one-bedroom, and two-bedroom units across four stories with 37,000 square feet of retail and office space, parking, pool, gym, co-working zones, food hall, and rooftop greenhouse.
• Ecco

Quantifiable outcome

• 250+ residential units developed in Elizabeth and Union County
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Northfield BankcoreChannel Partner/ Reseller/ Distributor · 1 January 2023Northfield Bank executed a lease agreement to open a branch location at Vintage City, 30 Union St., Elizabeth. Branch expected to open fall 2023, located on the corner of Union Street and West Jersey Street, across from Union County College.
• LeCesse DevelopmentcoreStrategic or Co-development Partner · 1 January 2021Joint development partnership for the Vinty (267-unit) project in Elizabeth, NJ. LeCesse Development collaborated with MÁS on this transit-oriented development adjacent to the Elizabeth train station.
• Faros PropertiescoreStrategic or Co-development Partner · 1 January 2017Joint venture partnership for the $55 million Midtown Elizabeth redevelopment project. Faros Properties, with significant development experience in Boston, Pittsburgh, and New York, brings capital and scale while MÁS provides local market expertise and community relationships. The project spans five acres across two parcels, targeting 525+ luxury residential units and 30,000 square feet of retail.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pennrose: National multifamily developer and operator with strong urban and mixed-income focus. Comparable to MÁS through transit-oriented multifamily pipeline, vertical integration, and public-private partnership capability.
• BNE Real Estate Group: New Jersey-based developer focused on mixed-use and multifamily projects. Comparable to MÁS on NJ geography, mixed-use urban redevelopment expertise, and vertically integrated development approach.
• Russo Development: New Jersey-based real estate developer with a portfolio spanning retail, multifamily, and mixed-use urban redevelopment. Highly comparable to MÁS for regional NJ focus, mixed-use expertise, and national tenant relationships.
• The Michaels Organization: New Jersey-based vertically integrated multifamily developer specializing in affordable, mixed-income, and market-rate housing across the Mid-Atlantic. Comparable to MÁS for NJ multifamily focus, developer-operator model, and similar tenant/asset mix.
• Pinnacle Companies: New Jersey-based real estate firm active in multifamily, mixed-use, and commercial development. Comparable scale, regional NJ geography, and similar multifamily/mixed-use product mix.
• Genesis Companies: New Jersey-based real estate developer with a focus on urban infill redevelopment in challenging markets. Direct peer given shared emphasis on underutilized urban sites and mixed-use product similar to MÁS's Elizabeth-area portfolio.
• LeCesse Development: Multifamily developer focused on residential and mixed-use projects across the East Coast. Direct peer given MÁS's JV relationship with LeCesse on the Vinty project, sharing similar transit-oriented multifamily expertise.
• Faros Properties: Real estate development firm with projects in Boston, Pittsburgh, and New York. Direct peer as MÁS's joint-venture partner on the $55M Midtown Elizabeth project, with comparable urban mixed-use development approach.

Broad incumbents

• The Related Companies: Large national real estate developer active in multifamily, affordable housing, and mixed-use. Operates at a much larger scale than MÁS but operates in overlapping categories and geographies, including transit-oriented multifamily development.
• Greystar Real Estate Partners: Global multifamily developer, operator, and investment manager. Comparable through multifamily development and property management focus, though at significantly greater scale than MÁS across the Tri-State area.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mas-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 MÁS Development Group