Quarterra, Eldridge Acre Partners Break Ground on Murrieta Apartments
Multifamily developer and investment manager Quarterra has broken ground on Aldea, its first apartment community in Murrieta and its 13th in Southern California. Eldridge Acre Partners (EAP), a privately held real assets investment management firm, provided preferred equity to the development. The project’s lead lender is ING Capital LLC.
“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., Aldea will be comprised of 387 apartment homes in a garden-style layout.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout