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Building Sustainable Communities

In Sentry Real Estate, our vision is to become a premier real estate developer and property owner in the Intermountain West. Our mission is to create and acquire environmentally sustainable, healthy, and socially impactful communities in which people can comfortably live, work, learn and play.

We’re committed to principles that build long-lasting residential communities, like socioeconomic integration, eco-friendly features, and holistic design influenced by New Urbanist principles.


Since 1992, Sentry has acquired 24 apartment properties across six states. We currently own 12 properties in four states (all but two of which were acquired with our property management and equity partner, Thompson Michie Associates).

We also develop and construct new apartment properties. Since its inception, Sentry Real Estate has focused on large properties (150 to 500 units), but has occasionally included smaller properties (3 to 20 units).


Acquisition & Development

Our Direct Financing and Leasing Programs are for equipment users who want a leasing partner with the experience and knowledge to craft financing solutions that meet your specific financial, accounting, tax and other needs and objectives.

Existing Properties

The acquisition, ownership, and management of large “Class A” and “Class B” apartment properties (150 to 500 units) in the Intermountain and Southwestern United States.

New Construction Properties

The development, construction, ownership, and management of large “A” caliber apartment properties (150 to 500 units) along the Wasatch Front, with respect to which we include:

  • energy efficiencies, solar generation, and water conservation, and
  • a meaningful portion of the units as affordable.

Unique Opportunities

The opportunistic acquisition of other real estate (which can include residential, commercial, or retail), primarily in the Salt Lake metropolitan area, that will create long-term positive impact on our communities.


Luxurious and fast-paced bar

Tower View: Luxury Apartments in Ogden, Utah

Ogden, Utah, a historic railroad town at the top of the Wasatch Front—just 40 minutes north of Sentry’s headquarters in Salt Lake City, UT—has extraordinary access to the outdoors, but needed to create more high-end apartments to accommodate the growing number of young professionals who are discovering the benefits of Ogden living.  So we partnered with International Development Group to meet that need with Tower View, a 144-unit “A” caliber apartment property with an impressive array of amenities and almost immediate access to all of what Ogden offers.

— Our Portfolio: Apartment Properties


Photo of Jonathan M. Ruga

Jonathan M. Ruga

Chief Executive Officer

Photo of Peter M. Corroon

Peter M. Corroon, Esq., MRED

Manager, Real Estate

Photo of Tina Ruga

Tina B. Ruga, MS

Project Manager, Real Estate

Ryan Scrivano

Investment Analyst


Why Partner With Us?

Sentry and its partners have acquired or developed 24 apartment properties across six states, consisting of more than 7,500 units, with an aggregate purchase price of approximately $600 million.

Sentry understands the real estate business and has the complete infrastructure and experience to work with developers, acquisition partners, and management companies to maximize opportunities in this space. Sentry helps its partners make the right investment decisions by collaborating to thoroughly analyze the economics of each project. In addition to providing a significant portion of the required equity, Sentry has years of experience working with Fannie Mae, Freddie Mac, insurance companies, and banks to obtain construction financing and first mortgage financing. Then, after each project is acquired, Sentry works with each partner to maximize the value enhancement.

Qualified real estate property management companies and developers (of all sizes) can expand their ownership of properties (with Sentry providing a significant portion of the required equity capital), and augment their management fee income.

Are We the Right Fit?

Sentry’s partners are typically small to medium-sized property management companies or developers (with a reasonable track record in their market niche) who identify significant opportunities in their markets, but who require a hands-on financial partner to acquire and/or develop the projects. In most cases, Sentry’s partners (and/or their principals) should have:

  • At least five years of property management or development experience regarding properties in the size range of the property, e.g., for apartment projects, you should be currently managing at least five separate apartment properties, each in the size range of your expertise.
  • Most or all of the systems and policies and procedures in place to operate your management or development business.
  • A reasonable net worth and cash flow that is independent of the project under consideration.

What Are the Project Criteria?

Sentry acquires and develops apartment properties that have between 150 and 500 units, but will consider smaller projects that have intriguing characteristics or create unique opportunities.

In general, the properties that most interest Sentry have the following characteristics:

  • An acquisition price of $5 million to $50 million;
  • The ability to support, with adequate debt service coverage, a first mortgage loan in the amount of 75% of the acquisition price/value;
  • A Total Equity Contribution from $250,000 to $15 million;
  • A Class “A” or “B” property caliber (for large apartment properties);
  • A Class “A,” “B,” or “C” with refurbishment potential (for smaller apartment properties);
  • A location along the Wasatch Front (for smaller properties) or within a two-hour flight from Salt Lake City, Utah (for large properties).

What's the Process for Partnering With Sentry?

After Sentry and a real estate management company or developer have agreed to participate in the Sentry Real Estate Funding Program, the Sentry Partner initiates its search for properties meeting mutually determined criteria. Once a property is identified, the Sentry Partner conducts a preliminary analysis of the property and, if Sentry and our Partner agree that the economics are favorable, the Sentry Partner makes an offer, subject to due diligence.

During the due diligence period, our Partner and Sentry work together to thoroughly understand the physical condition, historical performance, and potential of the property. If we both agree that the purchase should be finalized, a special purpose acquisition entity is formed, and the property is purchased.

What Are Sentry's Terms?

The cash required to purchase a property is derived from a combination of the proceeds of the first mortgage loan or construction loan (which generally approximates seventy-five percent (75%) of the purchase price or construction cost) and an “Equity Contribution.” The majority of the Equity Contribution is provided by Sentry with some reasonable participation by our Partner (so that the Partner has “skin in the game”). Our Partner may take an agreed upon development fee or a carried interest (or some combination of the two). Generally, Sentry and our Partner receive a return on their capital invested, together with a preferred return, and thereafter cash is distributed in accordance with ownership interests.

I'm Interested. How Do We Get Started?

To team up with Sentry and continue building your real estate empire, simply review whether we are a fit.  If your company (or the principals of your company) meet the guidelines, simply contact us and we will begin our journey together.

Are you interested in our services? 
Please feel free to contact us

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Forging A Better Future