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Mogharebi Group Arranges Sale of 14 Acres for MF Units Near Seattle
The Mogharebi Group (TMG) has arranged the $2.4 million sale of six contiguous land parcels totaling 14.3 acres in Silverdale, Washington, to Bode, a local multifamily developer.
The development site is located at the northwest corner of NW Anderson Hill Road and Old Frontier Road NW, west of State Route 3. Bode plans to construct a 438-unit multifamily community comprised of eight residential buildings, abundant amenities, and a community center.
“The seller, a Washington-based private investor, was extremely cooperative, allowing our buyer to complete much of the entitlement process pre-closing,” said Senior Vice President Ryan Kidwell, who leads TMG’s Seattle office and represented Bode on the transaction.
Kidwell also assisted Bode with navigating the difficult capital markets environment by arranging seller financing for the property. Bode is an active owner and developer of multifamily and workforce housing communities throughout Washington State, with seven projects under construction throughout the Puget Sound.
