Carolina Bay at Autumn Hall
630 Carolina Bay Dr, Wilmington, North Carolina 28403 · Community website
- Operator:
- 630 Carolina Bay Opco, LLC (managed by Carolina Bay Management of Wilmington, LLC, a Liberty Senior Living affiliate)
- Ownership:
- For-profit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 2015
Provider is owned by Welltower TRS Holdco LLC (a subsidiary of Welltower Inc., a publicly traded REIT) with a Liberty affiliate holding a minority interest; it leases the land and buildings from affiliated property companies.
- Type B (modified)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the North Carolina Department of Insurance.PDF
In this filing
- 2025-12-31: As of December 31, 2025, unrestricted cash and investments of $1,724,732 were $5,179,518 below the $6,904,250 required statutory operating reserve. The statement says the community will satisfy the deficit with an irrevocable, unconditional letter of credit in the amount of $6,904,250, payable to the North Carolina Department of Insurance (Section 35.4 describes it as a standby letter of credit).p. 27
At a glance
Entrance fee, one person, every plan
Monthly fee, independent living
Refund plans offered
Days cash on hand
Read the note on this figure
The operator has no long-term debt (DSCR shown as N/A) but leases the campus from an affiliated property company for about $715,706 a month (p68); $78.8M of its $80.6M liabilities are lease obligations (p40). Its $1.72M of cash was $5.18M short of the $6.90M statutory operating reserve; the statement says the deficit will be satisfied with a $6,904,250 irrevocable letter of credit payable to the Department of Insurance (p27).
Independent living occupancy
Nursing care, CMS overall rating
What care costs later
How each contract prices assisted living and nursing if you need them. The contract type decides most of what a long stay costs.
- Type B (modified): A set number of care days is included, or care is charged at a stated discount.
How the contract types compare
Type B (modified)The filing calls it Residency and Care Agreement (rental); we class contracts by how care is priced (our definitions).
Each calendar year a resident gets 10% off Healthcare Center fees for the first 30 days of care; unused discounted days do not carry over. Otherwise assisted living, memory care and nursing are charged at the published per diem rates, and the agreement keeps the resident responsible for the Monthly Service Fee as well (7.h). 26 adult care home beds and 12 nursing beds are reserved for residents, with priority for open beds when those are full.p. 84
- Assisted living
- Published per diem rates; average assisted living monthly fee $9,237 (standard) and $10,065 (memory care) as of January 1, 2026, with 10% off the first 30 days in the Healthcare Center each calendar year.
- Nursing care
- Published per diem rates (private daily service fee averages $575; $17,490 a month single), with the same 10% discount on the first 30 days each calendar year.
- Discount on care
- 10%
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 158 |
|---|---|
| Assisted living | 46 |
| Memory care | 24 |
| Nursing care | 30 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
The 2026 filing lists no entrance-fee schedule. What it says about the contracts:
No entrance fee. Residents sign a 13-month renewable Residency and Care Agreement and pay a nonrefundable Community Fee and Apartment Selection Fee (each one month's fee) plus a refundable security deposit of one month's fee. Health care is charged at published per diem rates, with a 10% discount on the first 30 days in the Healthcare Center each calendar year; 26 assisted living and 12 nursing beds are reserved for residents.PDF
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residency and Care Agreement (13-month rental) · Type B (modified) (8 prices, $6,396 to $17,490)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| One bedroom apartment | Independent living | $6,396p. 61 | $1,050 |
| One bedroom/den apartment | Independent living | $7,338p. 61 | $1,050 |
| Two bedroom apartment | Independent living | $8,375p. 61 | $1,050 |
| Two bedroom/den apartment | Independent living | $9,756p. 61 | $1,050 |
| Garden Flat | Independent living | $10,658p. 61 | $1,050 |
| Assisted Living - Standard | Assisted living | $9,237p. 61 | $3,000 |
| Assisted Living - Memory Care | Memory care | $10,065p. 61 | Not listed |
| Skilled Nursing | Nursing care | $17,490p. 18 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 5% | Percent onlyp. 18 |
| 2024 | Independent living | All units | 8.93% | Percent onlyp. 18 |
| 2023 | Independent living | All units | 9.5% | Percent onlyp. 18 |
| 2022 | Independent living | All units | 5% | Percent onlyp. 18 |
| 2021 | Independent living | All units | 1.5% | Percent onlyp. 18 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
The 2026 filing does not set out refund plan terms.
Finances
Whether the organisation behind the community has the cash and income to keep its promises for decades.
- Balance sheet: 630 Carolina Bay OpCo LLC.
- Ratios: 630 Carolina Bay OpCo LLC (provider only).
Days cash on hand
24 days FY2025p. 2
- Its lenders’ minimum: Not disclosed in the 2026 filing
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
Not disclosed in the 2026 filing
- Its lenders’ minimum: Not disclosed in the 2026 filing
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresThe operator has no long-term debt (DSCR shown as N/A) but leases the campus from an affiliated property company for about $715,706 a month (p68); $78.8M of its $80.6M liabilities are lease obligations (p40). Its $1.72M of cash was $5.18M short of the $6.90M statutory operating reserve; the statement says the deficit will be satisfied with a $6,904,250 irrevocable letter of credit payable to the Department of Insurance (p27).
How to read these figures: what each one measures and why a lender’s minimum is a floor, not a target.
Balance sheet and trend
| Fiscal year | FY2025p. 40 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 24 days | 28 days | 25 days |
| Debt service coverage | Not disclosed | Not disclosed | 54.32x |
| Operating margin | 6.99% | 2.96% | 24.94% |
| Total assets | $87.8 million | Not disclosed | Not disclosed |
| Total liabilities | $80.6 million | Not disclosed | Not disclosed |
| Long-term debt | $0 | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | Not disclosed | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | Not disclosed | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $7.2 million | Not disclosed | Not disclosed |
Auditor: Cherry Bekaert LLP. Opinion: Unmodified (clean) opinionp. 40
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2025-12-31 As of December 31, 2025, unrestricted cash and investments of $1,724,732 were $5,179,518 below the $6,904,250 required statutory operating reserve. The statement says the community will satisfy the deficit with an irrevocable, unconditional letter of credit in the amount of $6,904,250, payable to the North Carolina Department of Insurance (Section 35.4 describes it as a standby letter of credit).p. 27
- 2024-08Ownership change The operating license transferred from the prior owner to 630 Carolina Bay OpCo LLC, owned by Welltower TRS Holdco LLC, effective August 1, 2024; Welltower had acquired the bed certificates of need in October 2023.p. 44
Nursing care on campus
We have not linked this community’s nursing center to a CMS record. Nursing centers certified by Medicare can be looked up on CMS Care Compare.
In brief
Carolina Bay at Autumn Hall in Wilmington, NC is a for-profit rental continuing care community owned through Welltower and managed by a Liberty Senior Living affiliate, with 158 independent living apartments, 70 assisted living and memory care apartments and 30 skilled nursing beds. There is no entrance fee: residents sign renewable 13-month agreements with monthly fees averaging $6,396-$10,658 for independent living, and get 10% off the first 30 days of health care each year.PDF
Nearest communities in North Carolina
- Trinity Landing
Wilmington · 6 miles away
Entrance fee: $165,961 to $859,999
- Wesley Pines Retirement Community
Lumberton · 71 miles away
Entrance fee: $82,564 to $191,397
- Cypress Glen Retirement Community
Greenville · 99 miles away
Entrance fee: $24,156 to $408,720
Sources
- Carolina Bay at Autumn Hall — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 96 pages · retrieved 2026-10-15
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