Quarterra has started construction on Aldea, a new multifamily community planned for 25480 Jefferson Ave. in Murrieta. The project marks Quarterra’s first apartment development in Murrieta and represents the firm’s 13th community in Southern California, underscoring its continued focus on the region’s residential markets.
Eldridge Acre Partners, a privately held real assets investment management firm, is providing preferred equity for the development. ING Capital LLC is serving as the lead lender on the project. Together, the equity and debt commitments support the launch of Aldea and establish the capital structure needed to move the community from planning into active construction.
Aldea is planned as a garden-style apartment community totaling 387 homes. While specific floor plans and unit mixes were not disclosed, the garden-style description indicates a low- to mid-rise residential layout rather than a high-rise format. The project is positioned as a sizable addition to the local housing stock, with a scale that reflects confidence in Murrieta’s underlying demand for rental housing.
Quarterra describes Murrieta as a strong residential market, citing top-rated schools, nearby retail options and local outdoor amenities as key demand drivers. Dan Ferguson, Quarterra’s managing director of development for Southern California, noted that Aldea is intended to align with what the firm views as the active and vibrant character of the city and its surroundings. He emphasized the significance of Aldea as Quarterra’s first venture in Murrieta and highlighted the team’s goal of delivering an appealing living environment for future residents.
Although detailed project timelines, construction milestones and amenity packages were not disclosed, Quarterra indicated that the design of Aldea is focused on reflecting the lifestyle and energy of Murrieta and its environs. The developer also signaled a long-term commitment to the community by expressing anticipation for the day the first residents move in, tying the ground-breaking event to broader expectations for continued growth in the local multifamily market.
