What Bode does

Bode is a vertically integrated multifamily real estate company headquartered in Seattle, Washington, operating across three internal divisions: Bode Property Management, Bode Construction, and Bode Design Studio. Founded in 1990 and operating with over 200 employees, the company develops, owns, and manages approximately 40 multifamily rental properties concentrated in the Puget Sound region, serving residential renters with a stated vision of "Affordable Living for Everyone." The vertically integrated model allows Bode to capture margin and maintain operational control across the full lifecycle of a property — from design and construction through long-term operations — rather than relying on third-party general contractors, designers, or property managers.

The company's underlying technology stack is limited: Bode relies on AppFolio as its property management platform, with no indication of proprietary technology, data assets, or AI/ML capabilities. Revenue is generated through three primary streams: rental income from stabilized owned properties, construction revenue from Bode Construction on active development projects, and design fees from Bode Design Studio. The active development pipeline includes several large-scale projects slated for delivery in 2025-2026, including Bode Luna Park, Bode Tacoma Dome, Bode Salmon Creek, Bode Greenlake, and the multi-phase Bode Haller Lake project (Phase 1: 521 units; Phase 2 planned at approximately 1,500 units). The Bode Othello project embeds an affordable housing commitment with roughly 340 income-restricted units out of 424 total. Geographic expansion is underway into additional Puget Sound submarkets including Silverdale, Edgewood, Everett, and Burien.

Name

Bode

Legal name

Bode

Website

https://livingbode.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

51–100 employees

Short description

Bode is a vertically integrated Seattle-based multifamily real estate company that develops, owns, and manages approximately 40 rental properties across the Puget Sound region through in-house property management, construction, and design divisions, serving residential renters with an affordable living focus.

Ownership category

akta.pro rank

Product category

Multifamily Residential Real Estate

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Building Construction (2361)

SIC

General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Build-to-Rent (BTR) Community Management (BPAJAFAC)

Keywords

• Multifamily real estate
• Property management
• Apartment development
• Residential construction
• Real estate design

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Residential Property Rental: Primary revenue from rental income generated by approximately 40 owned and managed multifamily properties throughout the Puget Sound region. Properties include various unit types from studios to multi-bedroom apartments and townhomes.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Bode is a vertically integrated multifamily real estate company that owns, develops, designs, builds, and operates apartment communities across the Puget Sound region of Washington State. The company delivers the full apartment lifecycle through three divisions: Bode Property Management (operations and resident services), Bode Design Studio (architectural and interior design), and Bode Construction (building and renovation). Its portfolio spans multiple Seattle-area submarkets including Lake City, Greenlake, Lower Queen Anne, Bremerton, Capitol Hill, Lakewood, Edgewood, and Olympia.

Product overview

Bode is a vertically integrated multifamily real estate company offering apartment living across the Puget Sound region. The company operates through three integrated divisions: Bode Property Management (managing approximately 40 properties), Bode Design Studio (in-house planning and design), and Bode Construction (construction execution). The product portfolio includes both stabilized income-producing properties (such as Bode 125, Bode 88, Bode Uptown, Azure, Silver, Celeste, The Helen, Bayview East, Cedar Park, Sandman, and Lake Chalet Park) and development projects in various stages of construction and planning (including Bode Luna Park, Bode Greenlake, Bode Tacoma Dome, Bode Othello, Bode Bitter Lake, Bode Harbor Avenue, Bode Haller Lake, and Bode Silverdale). The company focuses on affordable housing by design, standardizing all aspects of the housing creation process to reduce complexity and cost.

Differentiator

Problem solved

Functional benefit

Products and services

• Bode Property Management Day-to-day operations, leasing, resident services, and ongoing management of Bode's multifamily apartment communities in the Puget Sound region, supported by the AppFolio platform.
• Bode Design Studio In-house architectural and interior design services for Bode's apartment developments, providing design oversight across the firm's portfolio of multifamily communities.
• Bode Construction Ground-up construction, renovation, and build services for Bode's apartment communities, executed by an in-house team as part of the company's vertical integration model.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Cascade Management: Cascade Management is a Pacific Northwest-based multifamily and affordable housing owner/operator. It is comparable to Bode in PNW geographic focus and multifamily ownership/management, particularly on the affordable housing side of Bode's portfolio.
• Vulcan Real Estate: Vulcan Real Estate (founded by the late Paul Allen) is a major Seattle-based developer and long-term holder of mixed-use and multifamily real estate across the Puget Sound region. Directly comparable in geography and in holding/developing residential assets in Seattle, though broader in asset class.

Broad incumbents

• AvalonBay Communities: AvalonBay is a publicly traded multifamily REIT that develops, redevelops, acquires, and operates apartment communities in high-barrier coastal U.S. markets. Comparable to Bode in owning and operating stabilized multifamily assets in supply-constrained metros (including Seattle), though at much larger scale.
• Greystar Real Estate Partners: Greystar is the largest multifamily developer, owner, and operator in the U.S., with vertically integrated development, investment, and property management across hundreds of thousands of units. It is a broad incumbent comparable to Bode's integrated build-and-operate model, though at vastly larger scale.
• Lennar Multifamily: Lennar's multifamily business (LMC) develops and operates rental communities nationwide and is one of the largest multifamily developers in the U.S. Comparable in scale of build/operate activity and integrated developer-owner-operator model, though as part of a much larger diversified homebuilder.
• Equity Residential: Equity Residential is a publicly traded multifamily REIT that owns and operates high-quality apartment properties in urban and high-density gateway markets, including Seattle. It is comparable in operating stabilized Class A multifamily assets in supply-constrained Pacific Northwest submarkets.

Direct peers

• AMLI Residential: AMLI Residential is a national multifamily developer, owner, and operator focused on sustainable, design-driven apartment communities in supply-constrained U.S. metros. Comparable to Bode's emphasis on sustainability, design quality, and integrated ownership of the full real estate lifecycle.
• Trammell Crow Residential: Trammell Crow Residential is a national multifamily developer with an integrated platform covering development, construction, and asset management. Its develop-and-operate model in supply-constrained U.S. markets parallels Bode's vertically integrated design/construction/property management approach.
• Prometheus Real Estate Group: Prometheus is a long-standing Pacific Northwest-focused developer, owner, and operator of Class A multifamily communities, headquartered in the Seattle region. It is the closest direct peer to Bode in terms of mission (own/develop/manage multifamily in the Puget Sound market) and integrated operating model.
• Mill Creek Residential: Mill Creek Residential is a national multifamily developer and operator focused on delivering high-quality, design-driven rental communities in supply-constrained U.S. metros. Its develop-and-hold strategy and integrated platform closely mirror Bode's vertically integrated, design-led, quality-focused approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/livingbode
• Facebookfacebook.com/livingbode
• LinkedInlinkedin.com/company/livingbode

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 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 Bode