Ponderosa & Thunder
Ridge Townhomes

Berkadia Seattle, in collaboration with Berkadia’s National SFR & BTR Team, is pleased to present the exclusive listing of Ponderosa & Thunder Ridge, located in Bend, OR. 

Ponderosa & Thunder Ridge, a premier two (2) property portfolio offered on a forward-sale basis, is comprised of 101 Build-to-Rent Townhomes located in the sought-after market of Bend, OR. The communities are being developed by D.R. Horton, America’s leading homebuilder, bringing best-in-class quality, scale, and reliability to this high-growth Pacific Northwest location. Construction has already commenced on both properties with subject deliveries scheduled between late 2025 through 2026. 

Offered as a portfolio or on an individual basis, Ponderosa & Thunder Ridge represent a rare chance to secure newly constructed, purpose-built rental product in advance of delivery within a high-barriers to entry, low delivery pipeline market. Both assets are priced significantly under retail pricing for the marketplace allowing an investor day one upside for acquiring the homes in tranches as the Certificates of Occupancy are received.  

In total, the assets are comprised of 101 three-bedroom, two and half bathroom townhomes averaging 1,517 SF. Ponderosa has 60 homes averaging 1,533 SF, while Thunder Ridge has 41 homes averaging 1,495 SF. Each two-story home features open-concept floorplans, one- or two-car attached garages with one- or two-car driveways, smart home technology, and flex office/loft space. Homes will be delivered with a high-end interior finish package including solid surface countertops, stainless steel appliances, and shaker-style cabinetry; offering a modern, functional, and highly desirable rental experience that bridges the gap between apartment living and homeownership.

Located less than 20 minutes apart (7.3 miles), the two communities are strategically positioned to serve Bend’s growing population. Bend, OR is a vibrant, outdoor-oriented market experiencing rapid in-migration, elevated home prices, and constrained housing supply. The area continues to attract high-income professionals, remote workers, and lifestyle-driven renters seeking quality housing options with suburban comfort and easy access to recreation and amenities. 

As a forward-sale opportunity developed by a nationally recognized builder, Ponderosa & Thunder Ridge offer investors early access to institutional-grade product in a supply-constrained market, with flexibility to tailor the transaction to specific investment goals. The deal presents a compelling entry point into the resilient and dynamic Bend market, combining scale, quality, and long-term demand fundamentals in a location primed for sustained growth.