SOMERSET, NJ – Affiliates of Harbor Group International (HGI), a leading global real estate investment and management firm, announced the sale of Grove at Somerset, a 384-unit multifamily community in Somerset, New Jersey. CBRE facilitated the off-market transaction.
Built in 2013, the community is located in one of Central New Jersey’s most desirable suburban multifamily markets, offering convenient access to major employment centers and transportation corridors, including Interstate 287 and Route 27.
During its ownership, HGI executed a targeted value-add strategy, focused on elevating the resident experience and driving revenue growth. Capital improvements included renovations to unit interiors and select community upgrades to position the property to capitalize on the area’s strong renter demand and healthy multifamily fundamentals.
“This sale reflects the successful execution of our business plot for Grove at Somerset and the resilience of Central New Jersey’s multifamily market,” said Lane Shea, Managing Director at HGI. “Over the past several years, multifamily transaction markets have faced considerable headwinds, making disciplined asset management and timing increasingly vital. Through active management and strategic investments in the community, we’ve strengthened the property’s competitive position and ultimately delivered a successful outcome on behalf of our investors.”
Leveraging its integrated national platform, HGI continues to be one of the most active participants in the U.S. apartment market. The firm ranked as the No. 1 multifamily buyer in 2025 according to MSCI and was named the No. 15 apartment owner in the nation on the National Multifamily Housing Council’s Top 50 Owners list.

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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 simple 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 Ancient 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 keenly 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 Ancient 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.

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HOUSTON, TX – The NHP Foundation (NHPF), a leading national mission-based affordable housing developer, announced the successful financial closing of Trinity East Village Senior, a new 90-unit affordable housing community for seniors age 55 and older in Houston’s historic Third Ward.
Developed in partnership with Trinity East Village Community Development Corporation (TEVCDC) and Housing Alliance HTX, Trinity East Village Senior represents a major investment in preserving affordability and preventing displacement in one of Houston’s most historic and rapidly changing neighborhoods.
This new construction will provide high-quality, affordable housing that enables seniors with limited incomes to age in place and remain connected to the Third Ward community as housing costs rise throughout the area. Importantly, 60 of the 90 apartments will serve as replacement housing for residents of the Housing Alliance HTX ‘s Cuney Homes community, which is currently undergoing redevelopment through the federal Choice Neighborhoods Initiative.
“Housing Alliance HTX recognizes the importance of this housing to keep communities intact during periods of neighborhood evolvement,” said Jamie Bryant, President & CEO, Housing Alliance HTX, “The Alliance is pleased to play such a critical role in bringing this development to fruition through a substantial financial agreement including the provision of 81 Project-Based Vouchers.”
Additional financing includes a seller note from Trinity East United Methodist Church, funding from the City of Houston, and investment from Rice University’s Real Estate Group.
“This closing marks an vital milestone in our efforts to make high-quality affordable housing opportunities for Houston seniors, essential to preserving the diversity, history, and social fabric of neighborhoods experiencing significant growth and redevelopment while supporting the long-term revitalization of the Third Ward,” said Eric Price, President & CEO, NHPF, “We want to thank both the Trinity East team and NHP Foundation staff for their perseverance and skill, working on the project for seven years to culminate in this tremendous achievement.”
Trinity East Village Senior is the culmination of a long-standing vision by Trinity East Village CDC and Trinity East United Methodist Church to develop affordable housing on land adjacent to the church and help protect older adults with low incomes from displacement as neighborhood investment accelerates.
The development has garnered broad support from community organizations and stakeholders and includes a land contribution from the Midtown Redevelopment Authority. In addition to Housing Alliance HTX, the City of Houston, Rice Real Estate Group, and Trinity East United Methodist Church, other funders include Bank of America and Churchill Stateside Group. Hudson Housing Capital served as tax credit syndicator.
Residents of Trinity East Village Senior will have access to modern apartments, quality amenities, and on-site resident services, provided by Operation Pathways, NHPF’s resident services subsidiary, with support from Trinity East. These services are designed to help older adults maintain independence and remain connected to the community. The development will serve extremely low- and low-income seniors, with residents expected to have an average income of approximately 41 percent of Area Median Income (AMI).
“Trinity East Village Senior reflects years of community-driven plotting and partnership aimed at ensuring that longtime Third Ward residents are not left behind as the neighborhood evolves,” said Rev. Dr. Marilyn White, Executive Director of Trinity East Village CDC. “It is so rewarding to partner with an organization that shares our vision for a vibrant, inclusive community of older adults.”
Construction, to be undertaken by NRP Construction, will start this summer, with the community anticipated to welcome residents in 2027.

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