Quarterra Celebrates Groundbreaking of 387-Unit Aldea Garden-Style Apartment Community in Southern California Market of Murrieta

MultifamilyBiz · 2 months ago · 67 views

MURRIETA, CA - Quarterra, an industry-leading multifamily development and investment management firm, announced the groundbreaking of its latest apartment community, Aldea, in Murrieta, California. Eldridge Acre Partners (EAP), a privately held real assets investment management firm, provided preferred equity to the development. Alongside the project's lead lender, ING Capital LLC, Quarterra and EAP are proud to offer a high-quality residential destination in one of Southern California's premier markets. Known as the "Gem of the Valley," Murrieta offers a serene suburban lifestyle with easy access to both Orange County and San Diego. Located in Southwest Riverside County, Murrieta is home to 1,350 acres of parks and trails, and adjacent to Temecula with nearly 50 wineries. Aldea's enviable location provides ideal access to all that both cities have to offer, with the community positioned just minutes from Downtown Murrieta and the historic charm of Old Town Temecula. "Murrieta is a strong residential market due to its top-rated schools, local retail and outdoor amenities," said Dan Ferguson, Quarterra's managing director of development for Southern California. "We're excited to be underway with Aldea — our first venture into Murrieta — and look forward to delivering an exceptional living experience to this rapidly growing community. Aldea is designed to reflect the active, vibrant spirit of the city and surrounding environs, and we're eagerly awaiting the day when we welcome our first residents." Located at 25480 Jefferson Ave., the Aldea site is situated near the interchange of I-15 and I-215, less than an hour from both San Diego and Orange County. Aldea residents will find themselves at the hub of possibility, just five minutes from Murrieta's downtown district and farmers market, hot springs and the Rancho California Golf Club; 10 minutes from Old Town Temecula; and, 15 minutes from Temecula Wine Country. Promenade Temecula Mall and the Pechanga Casino are less than 15 minutes away, as well. The site is also a quick commute to major employers, including Abbott, Kaiser Permanente, Rady Children's Hospital and Universal Health Services. Aldea will be comprised of 387 apartment homes in a garden-style layout. Floor plans include one-, two- and three-bedroom designs, ranging from 700-1,385 square feet. Homes come equipped with a smart technology package, as well as stainless steel appliances, quartz countertops, luxury vinyl plank flooring, walk-in closets and kitchen islands in most layouts. Aldea is Quarterra's first Murrieta community and 13th in Southern California.