Operators vs Allocators: A Cash-Flow Blueprint for CRE with Daniel Trevino

Operators vs Allocators: A Cash-Flow Blueprint for CRE with Daniel Trevino

April 28, 2026 · 38 min

About this episode

Daniel Trevino discusses Alturas Capital Partners' 'operators first' philosophy and their approach to real estate investing.

Connect with Altruis Capital Partners: https://reports.alturascapitalpartners.com/quarterly-reports/2025-q4 https://alturascapital.com/ This Episode Alturas Capital Partners has built a vertically integrated platform across the Intermountain West—and in this episode, Chris Lopez sits down with Daniel Trevino (Director of Investor Relations) to unpack what that “operators first” philosophy looks like in practice. Daniel explains why Alturas focuses on markets they know firsthand (including Colorado), how they think about creating alpha through hands-on execution, and why the firm chose an evergreen fund structure designed for long-term compounding instead of a traditional closed-end raise. The conversation also dives into why Alturas leaned into “neighborhood” and experiential retail when the asset class was out of favor, how that thesis has evolved, and what they’re seeing today across office, retail, and other commercial segments. Chris presses on the core LP questions: how diversification works inside a multi-asset evergreen vehicle, how Alturas thinks about underwriting spreads in today’s rate environment, why location quality matters even more in office, and what a “poor…

Explore listener stats, chart rankings, contacts and more on the PassivePockets: The Passive Real Estate Investing Show podcast page.