Most private equity real estate investments last 3–5 years. They're built around a manager's timeline. Deploy fast, exit, collect fees, repeat. Some funds are structured to be the greatest transfer of wealth from investors to managers. We wanted to be different.
The Alturas Real Estate Fund was designed with the investor in mind. Our open-ended, evergreen structure removes the pressure to deploy capital or exit properties at inopportune times, allowing us to weather inevitable market cycles and keep decisions aligned with our partners' best interests. We grow the pie alongside our partners and get compensated for the actual value we create. This mindset guides everything we do: how we approach our partners, how we operate our properties, our investment strategy, and our investor partnerships.
Exceptional Returns, Amplified by Tax Efficiency
Returns shown are average annual returns; actual returns vary by investor based on unit price paid. Calculations assume investors can fully use tax benefits in the year generated, including sufficient passive income to offset losses. Assumed federal tax rates: 37% (ordinary income) and 20% (capital gains); state and local taxes excluded. Figures are standalone estimates and do not reflect an investor’s broader tax situation. Differences between pre-tax and after-tax returns may reflect timing of recognition rather than permanent changes in overall return. Actual results will vary—consult your personal tax advisor.
Built by Partnerships
Partnerships Are the foundation of our business model
Our partnerships are our edge. Trusted broker relationships surface the best opportunities. A loyal investor base enables decisive action. 700+ tenants provide durable, diversified income. And a vertically integrated team of 50+ professionals ensures we operate and execute at the highest level.
700+
Tenant Partners
50+
Employee Partners
350+
Investor Partners
150+
Broker Partners
Hands On Approach
We are operators, not just capital allocators
With more than $1 billion sourced, repositioned, and executed, we control the full life cycle of every investment. From underwriting, development, leasing, and management, our hands on approach delivers the highest results.
Where we Invest
Investing in The Growth Markets of the Intermountain West
Since the beginning, we have focused on acquiring properties in the secondary and tertiary markets across the Intermountain West and Inland Northwest. We believe these markets are well positioned for long-term growth, driven by a combination of relative affordability, stable employment bases, and a high quality of life that continues to attract individuals and businesses. This dynamic supports long-term demand and creates a foundation for sustained real estate value over time.
Cash Flow Focused
From a Diverse Portfolio
Cash flow sustains our organization, services our obligations, and ultimately fuels our ability to grow together. For that reason, we prioritize properties with strong cash flow potential.
Diversified by Design
Across Markets, Sectors, And Cycles
The Fund’s structure enables us to diversify our portfolio across geographic locations, property type, tenant industries, and over time, enhancing our ability to capitalize on opportunities and create a truly diverse portfolio.
Markets
Assets Under Management
Strategically Opportunistic
Risk We Can Underwrite, Upside We Can Capture
Our approach to investing has always been opportunistic, targeting projects with risk that we can mitigate for upside. Whether it's a property facing tenant rollover, lack of investment from previous owners, mismanagement, or undervalued due to a broader narrative, we see these challenges as opportunities.
Our Investment Offerings
Equity Offering
Our equity offering allows investors to invest in a diversified portfolio of commercial real estate assets focused on generating excellent ongoing returns from operations. The Fund's offering is best suited for investors who understand and align with the Fund's investment strategy and value long-term partnerships.
Targeted Total Returns: 9-14%
Preferred Return: 8% paid quarterly
Profit Split: 70% investors, 30% manager after preferred return
Fees: 1.5% asset management fee
Minimum Investment: $250,000
Equity Offering
Fixed-Income Offering
Our fixed-income offering provides our partners with a fixed-income investment with attractive risk-adjusted returns and additional liquidity options. Investors can receive distributions in cash or accrue the interest earned throughout the life of the note. Upon maturity of the note investment, partners can reinvest their investment into another note, convert their funds into equity, or redeem their funds.
Interest Rate: 7-9% paid quarterly (rate dependent on duration and amount)
Investment Type: Promissory note
Security: Subordinate to property debt; senior to equity
Term: 24-60 months
Minimum Investment: $100,000
*Source: Preqin, compared against public and private REIT benchmarks including the NCREIF ODCE Index.
All projections are hypothetical and predicated upon various assumptions that may or may not be identified as such. The future operating and financial performance information contained herein is for illustrative purposes and is not intended to portray any sort of targeted or anticipated returns. There can be no assurance that the Fund will achieve its investment objectives and actual performance may vary significantly.
Alturas Capital Partners, LLC and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal or accounting advice.