Master Properties

What Master Properties does

Master Properties is a privately held, Minneapolis-based full-service real estate development firm founded around 1997-2000 and operating with approximately 6 employees under a four-principal leadership team (Max Heitzmann, Todd Smith, Don Gerberding, and Anthony Taylor). The firm specializes in mixed-use and urban infill development in the Minneapolis-St. Paul market, repositioning outdated buildings and delivering new urban projects through an integrated design-build model that provides a single point of accountability from design through construction. Its current flagship development is Washburn House, a 15-unit boutique condominium project at 5005 Lyndale Avenue South in the Tangletown neighborhood, sold directly to individual buyers. Beyond principal development, Master Properties runs a boutique commercial brokerage covering office, retail, and industrial properties, provides development consulting and urban redevelopment advisory services, and operates an investment program that accepts capital from accredited investors into multifamily opportunities with a stated $1,000,000 minimum equity threshold for 1031 exchange participation, targeting an 8% preferred return and 39% IRR.

The firm's revenue model blends one-time development proceeds from condominium and mixed-use project sales, transaction-based brokerage commissions on commercial and investment property deals, and professional services / asset management fees on multifamily investment capital under management. It targets three primary customer segments: individual residential buyers seeking boutique urban condominiums, accredited real estate investors seeking 1031 exchanges and multifamily exposure, and commercial property owners/tenants requiring brokerage and advisory representation. Go-to-market is direct, relying on the company website, industry relationships, awards from bodies including NAIOP and the Minneapolis/St. Paul Business Journal, and direct phone and email inquiry. Geographic scope is concentrated in the Minneapolis-St. Paul metro, with no public disclosure of expansion into additional markets and no parent company, institutional investors, or funding rounds identified in the source material.

Name

Master Properties

Legal name

Master Properties

Website

https://masterproperties.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

Master Properties is a Minneapolis-based boutique real estate development firm specializing in mixed-use and urban infill projects, with complementary commercial brokerage and accredited-investor multifamily investment offerings serving individual buyers, investors, and commercial clients in the Minneapolis-St. Paul market.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (23721), Residential Building Construction (23611), Commercial and Institutional Building Construction (236220), Other Financial Vehicles (52599)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industry

Urban Planning & Master Planning (BPAHAKAD)

Keywords

• Real estate development
• Commercial brokerage
• Mixed-use development
• Urban redevelopment
• Multifamily investment

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: Full-service development of mixed-use and urban infill projects. The company streamlines every phase from design to construction through a single point of accountability.
2. Brokerage Services: Boutique-level brokerage services including commercial brokerage, development consulting, investment property brokerage, and urban redevelopment advisory.
3. Investment Capital: Accepts investment capital from accredited investors into multifamily real estate opportunities. Minimum equity investment for 1031 exchange participation is $1,000,000.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Master Properties is a full-service urban real estate development firm specializing in mixed-use and urban infill projects. The company streamlines every phase from design to construction through a single point of accountability, and also offers commercial brokerage, development consulting, investment property brokerage, urban redevelopment advisory, and multifamily real estate investment opportunities. Current focus includes Washburn House, a boutique 15-residence condominium development in Minneapolis's Tangletown neighborhood.

Product overview

Master Properties is a full-service real estate development firm offering a portfolio of integrated services. The company specializes in mixed-use and urban infill development projects, with current focus on Washburn House, a boutique condominium development in Minneapolis. Beyond core development services, the company provides commercial brokerage, development consulting, investment property brokerage, urban redevelopment advisory, and multifamily real estate investment opportunities. The portfolio includes both current projects and completed developments across commercial, retail, office, and multifamily sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Washburn House Boutique condominium development with 15 thoughtfully designed residences at 5005 Lyndale Avenue South in the Tangletown neighborhood of Minneapolis. Architecture draws inspiration from early Spanish colonial homes, blending terracotta, brick, stucco, and stone finishes. Targeted at individual buyers seeking high-quality, low-maintenance urban living.
• Mixed-Use Development Full-service development service specializing in mixed-use and urban infill projects, streamlining every phase from design to construction through a single point of accountability. Delivered for property owners, investors, and municipalities in Minneapolis-St. Paul.
• Commercial Brokerage Full-service representation for office, retail, and industrial properties across urban Minneapolis markets. Provided to commercial property owners, investors, and tenants.
• Development Consulting Strategic advisory on project feasibility, site selection, and development programming. Targeted at property owners, investors, and public-sector partners evaluating urban development opportunities.
• Investment Property Brokerage Sourcing and executing investment acquisitions with deep local market knowledge and proprietary deal flow for commercial and multifamily investment property buyers in the Minneapolis-St. Paul market.
• Urban Redevelopment Advisory Advisory guiding adaptive reuse and repositioning strategies for underperforming urban assets in Minneapolis. Targeted at owners and investors of outdated commercial, retail, or mixed-use properties.
• Multifamily Real Estate Investment Direct investment opportunities in strategically selected multifamily communities positioned for stability, growth, and value creation. Offered to accredited investors with a minimum equity check of $1,000,000 for 1031 exchange participation; historical outcomes cited include 8% preferred return, 39% IRR, and a 1.94 equity multiple over a 2-year hold period.

Quantifiable outcome

• 8% preferred return on investment
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Kraus-Anderson: Minneapolis-based real estate developer and construction manager with mixed-use, multifamily, and commercial projects across the Upper Midwest. Larger and more diversified than Master, with overlapping urban development activity.
• Colliers International: Global commercial real estate services firm with a strong Minneapolis office, retail, and industrial brokerage practice. Comparable to Master's brokerage arm but operating at much larger scale and broader geography.
• Cushman & Wakefield: Global commercial real estate services firm offering brokerage and advisory services that overlap with Master's commercial brokerage line. Significantly larger and broader than Master, but competes for the same Twin Cities mandates.
• Opus (Opus Holding Company): Large, established Twin Cities-headquartered developer of office, industrial, multifamily, and mixed-use product. Same geographic market but considerably larger scale and broader portfolio than Master.

Direct peers

• Lander Group: Minneapolis real estate developer focused on mixed-use and urban infill projects in the Twin Cities. Closely matches Master's project type, scale, and adaptive-reuse orientation.
• Greco Properties: Minneapolis developer of mixed-use, multifamily, and commercial real estate in urban neighborhoods. Comparable boutique-scale urban infill developer operating in the same Twin Cities market.
• CSM Corporation: Minneapolis-based real estate investment and development firm focused on urban mixed-use and multifamily projects. Comparable to Master in product mix, urban infill specialization, and Twin Cities base.
• Sherman Associates: Minneapolis-based developer specializing in urban mixed-use, multifamily, and commercial projects across the Twin Cities. Most direct comparable to Master Properties in geography, product type, and urban infill focus.
• Doran Companies: Minneapolis-based developer delivering multifamily, mixed-use, and commercial real estate. Comparable in urban Minneapolis focus and full-service development approach.
• Roers Companies: Midwest-based multifamily developer and investment manager with active presence in Minneapolis. Comparable to Master's multifamily investment and development offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/masterpropertiesmn

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Master Properties