Quarterra Announces Groundbreaking of 387-Unit Aldea Apartments in Murrieta, Marking First Multifamily Development in the Market

MURRIETA, Calif. — June 24, 2026 — Quarterra, a multifamily development and investment management firm, announced the groundbreaking of Aldea Apartments, a 387-unit garden-style community located at 25480 Jefferson Ave. in Murrieta, California. The development is backed by senior construction financing from ING Capital LLC and preferred equity from Eldridge Acre Partners (EAP), a privately held real assets investment management firm operating in strategic partnership with Eldridge.

Aldea marks Quarterra's first multifamily project in Murrieta and its 13th community in Southern California, according to the firm.

Project Details and Design

The Aldea development will comprise 387 apartment homes in a garden-style layout, with one-, two- and three-bedroom floor plans ranging from approximately 700 to 1,385 square feet. Units will feature a smart technology package, stainless steel appliances, quartz countertops, luxury vinyl plank flooring, walk-in closets, and kitchen islands in most layouts.

Community amenities will include an 11,500-square-foot clubhouse with a game room, billiards and catering kitchen; a resort-style pool and spa with covered outdoor cabanas; a state-of-the-art fitness center; outdoor fireplaces, grills and a covered outdoor rooftop deck; co-working spaces; an outdoor pet park; and Luxor package lockers.

The site is positioned near the interchange of Interstate 15 and Interstate 215 in Southwest Riverside County, placing residents within approximately five minutes of Murrieta's downtown district and farmers market, and within 10 minutes of Old Town Temecula. Promenade Temecula Mall and Pechanga Casino are less than 15 minutes away. Major nearby employers include Abbott, Kaiser Permanente, Rady Children's Hospital and Universal Health Services, according to Quarterra.

Market Context

Murrieta is located in Southwest Riverside County and is described by Quarterra as the "Gem of the Valley." The city offers access to more than 1,350 acres of parks and trails and sits adjacent to Temecula, home to nearly 50 wineries. The site is less than an hour from both San Diego and Orange County via the I-15/I-215 interchange.

"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."

Capital Stack: ING Capital and Eldridge Acre Partners

ING Capital LLC, the lead lender on the project, is a financial services firm providing wholesale lending products and advisory services to corporate and institutional clients. It operates as an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV.

Eldridge Acre Partners, which provided preferred equity, operates in strategic partnership with Eldridge Industries, a diversified holding company with more than $70 billion in assets under management. EAP describes its approach as combining investment specialists with design and construction professionals to provide flexible capital solutions across real asset strategies.

Quarterra's Southern California Portfolio

Quarterra describes itself as a real estate investment firm focused on the development of multifamily communities nationwide, with 12 regional offices across 20 states. With Aldea, Quarterra extends its Southern California footprint into Southwest Riverside County for the first time.

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Sources: Quarterra press release via PR Newswire, June 24, 2026