Glenaire
4000 Glenaire Circle, Cary, North Carolina 27511 · Community website
- Operator:
- Glenaire, Inc. (controlled affiliate of Kintura / The Presbyterian Homes, Inc. dba Brightspire)
- Ownership:
- Nonprofit
- Affiliation:
- Presbyterian
- Opened:
- 1993
Kintura, formed in 2024 from The Presbyterian Homes, Inc. (Brightspire) and Well-Spring Services, is sole corporate member and appoints the board.
- Type B (modified)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the North Carolina Department of Insurance.PDF
At a glance
Refund plans offered
- StandardCan decline to nothing
- 50% RefundableNever less than 50% of the fee
- 90% RefundableNever less than 90% of the fee
- Range across refund plans (plan not specified)Terms not disclosed in the 2026 filing
Days cash on hand
Read the note on this figure
Unaudited, and FY2025 is a 15-month period (Oct 2024-Dec 2025) after a fiscal-year-end change. The 267 days appears to count Glenaire's $11.6M statutory operating reserve: its cash ($3.4M) and investments ($16.3M) alone are about 168 days of cash operating expenses (p69, p71). The Brightspire obligated group reports 725 days and 1.87x (p40, p42).
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)
14 grace days a year with no per diem (unused days do not carry over), then nursing care at 80% of the published daily rate. The apartment must be surrendered on request 90 days after the grace days run out.p. 189
- Assisted living
- Published Health Center rates: assisted living $7,951-$10,411 a month (direct-admission entrance fee $25,000). The contract's 80% rate is written for nursing care; whether it applies to assisted living is not stated.
- Nursing care
- First 14 days a year in the Health Center: keep paying the apartment's monthly charge, no per diem (insurance such as Medicare is used first). After that, 80% of the published nursing per diem ($412 a day published), plus the apartment's monthly charge until it is surrendered.
- Care days included
- 14
- Discount on care
- 20%
| Independent living | 417 |
|---|---|
| Assisted living | 68 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 71 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residence and Care Agreement · Type B (modified) (27 prices, $87,000 to $1,025,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Independent Living (IL) – Beech, Studio | Range across refund plans (plan not specified) | from $87,000p. 25 | Not listed |
| IL– Thistle, One Bedroom | Range across refund plans (plan not specified) | from $208,000p. 25 | Not listed |
| IL- Thyme, Expanded One Bedroom | Range across refund plans (plan not specified) | from $210,000p. 25 | Not listed |
| IL – Twinflower, One Bedroom / Study | Range across refund plans (plan not specified) | from $259,000p. 25 | Not listed |
| IL – Rhododendron – Two Bedroom | Range across refund plans (plan not specified) | from $276,000p. 25 | Not listed |
| IL- Willow, Expanded Two Bedroom | Range across refund plans (plan not specified) | from $282,000p. 25 | Not listed |
| IL – Jasmine, Two Bedroom/Den | Range across refund plans (plan not specified) | from $424,000p. 25 | Not listed |
| IL – Gardenia, Two Bedroom/Den | Range across refund plans (plan not specified) | from $431,000p. 25 | Not listed |
| IL – Laurel, Two Bedroom/Den | Range across refund plans (plan not specified) | from $474,000p. 25 | Not listed |
| IL – Azalea, Two Bedroom/Den | Range across refund plans (plan not specified) | from $526,000p. 25 | Not listed |
| IL – Magnolia, Two Bedroom/Den | Range across refund plans (plan not specified) | from $588,000p. 25 | Not listed |
| IL – Fern Carport, Two Bedroom/Den | Range across refund plans (plan not specified) | from $434,000p. 25 | Not listed |
| IL – Fern Garage, Two Bedroom/Den | Range across refund plans (plan not specified) | from $476,000p. 25 | Not listed |
| IL – Heather, Two Bedroom/Den | Range across refund plans (plan not specified) | from $549,000p. 25 | Not listed |
| IL – Juniper, Two Bedroom/Den | Range across refund plans (plan not specified) | from $597,000p. 25 | Not listed |
| IL – Wintergreen, Two Bedroom Expanded /Den | Range across refund plans (plan not specified) | from $597,000p. 25 | Not listed |
| IL – Ivy, Two Bedroom/Den | Range across refund plans (plan not specified) | from $526,000p. 25 | Not listed |
| IL – Camellia, Two Bedroom | Range across refund plans (plan not specified) | from $526,000p. 25 | Not listed |
| IL – Tupelo, Two Bedroom | Range across refund plans (plan not specified) | from $588,000p. 25 | Not listed |
| IL – Chestnut, Two Bedroom/Den | Range across refund plans (plan not specified) | from $632,000p. 25 | Not listed |
| IL – Birch, Two Bedroom/Den | Range across refund plans (plan not specified) | from $654,000p. 26 | Not listed |
| IL – Dogwood, Two Bedroom/Den | Range across refund plans (plan not specified) | from $654,000p. 26 | Not listed |
| IL - Bradford, Two Bedroom/Den | Range across refund plans (plan not specified) | from $699,000p. 26 | Not listed |
| IL – Leyland, Two Bedroom/Den | Range across refund plans (plan not specified) | from $721,000p. 26 | Not listed |
| IL – Hawthorn, Two Bedroom/Den | Range across refund plans (plan not specified) | from $721,000p. 26 | Not listed |
| IL – Sycamore, Three Bedroom | Range across refund plans (plan not specified) | from $800,000p. 26 | Not listed |
| IL – Cypress, Three Bedroom / Den | Range across refund plans (plan not specified) | from $1,025,000p. 26 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Care Agreement · Type B (modified) (28 prices, $3,309 to $10,411)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Independent Living (IL) – Beech, Studio | Independent living | $3,309p. 23 | Not listed |
| IL– Thistle, One Bedroom | Independent living | $3,875p. 23 | $1,461 |
| IL- Thyme, Expanded One Bedroom | Independent living | $3,875p. 23 | $1,461 |
| IL – Twinflower, One Bedroom / Study | Independent living | $4,531p. 23 | $1,461 |
| IL – Rhododendron – Two Bedroom | Independent living | $4,531p. 23 | $1,461 |
| IL- Willow, Expanded Two Bedroom | Independent living | $4,531p. 24 | $1,461 |
| IL – Jasmine, Two Bedroom/Den | Independent living | $4,920p. 24 | $1,461 |
| IL – Gardenia, Two Bedroom/Den | Independent living | $4,944p. 24 | $1,461 |
| IL – Laurel, Two Bedroom/Den | Independent living | $5,226p. 24 | $1,461 |
| IL – Azalea, Two Bedroom/Den | Independent living | $5,353p. 24 | $1,461 |
| IL – Magnolia, Two Bedroom/Den | Independent living | $6,028p. 24 | $1,461 |
| IL – Fern Carport, Two Bedroom/Den | Independent living | $4,695p. 24 | $1,461 |
| IL – Fern Garage, Two Bedroom/Den | Independent living | $4,695p. 24 | $1,461 |
| IL – Heather, Two Bedroom/Den | Independent living | $5,198p. 24 | $1,461 |
| IL – Juniper, Two Bedroom/Den | Independent living | $5,198p. 24 | $1,461 |
| IL – Wintergreen, Two Bedroom Expanded /Den | Independent living | $5,198p. 24 | $1,461 |
| IL – Ivy, Two Bedroom/Den | Independent living | $5,246p. 24 | $1,461 |
| IL – Camellia, Two Bedroom | Independent living | $5,246p. 24 | $1,461 |
| IL – Tupelo, Two Bedroom | Independent living | $5,278p. 24 | $1,461 |
| IL – Chestnut, Two Bedroom/Den | Independent living | $5,414p. 24 | $1,461 |
| IL – Birch, Two Bedroom/Den | Independent living | $5,414p. 24 | $1,461 |
| IL – Dogwood, Two Bedroom/Den | Independent living | $5,414p. 24 | $1,461 |
| IL - Bradford, Two Bedroom/Den | Independent living | $5,549p. 24 | $1,461 |
| IL – Leyland, Two Bedroom/Den | Independent living | $5,686p. 24 | $1,461 |
| IL – Hawthorn, Two Bedroom/Den | Independent living | $5,686p. 24 | $1,461 |
| IL – Sycamore, Three Bedroom | Independent living | $6,024p. 24 | $1,461 |
| IL – Cypress, Three Bedroom / Den | Independent living | $6,901p. 24 | $1,461 |
| Assisted Living | Assisted living | $7,951 to $10,411p. 24 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | All units | 4.25% | Percent onlyp. 25 |
| 2025 | Independent living | All units | 4.5% | Percent onlyp. 25 |
| 2024 | Independent living | All units | 5.7% | Percent onlyp. 25 |
| 2023 | Independent living | All units | 7% | Percent onlyp. 25 |
| 2022 | Independent living | All units | 3.8% | Percent onlyp. 25 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Standardp. 27
4% of the entrance fee is non-refundable and the refund drops 2% for each month of occupancy, reaching nothing after 48 months. The refund (less unpaid charges) is paid only once your apartment has been reserved by a new resident who has paid their entrance fee; there is no deadline.
- Kept on move-in
- 4% of the fee
- Declines by
- 2% a month for 48 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
50% Refundablep. 27
4% is non-refundable and the refund drops 2% a month for 23 months, then stays at 50% of the entrance fee. The refund (less unpaid charges) is paid only once your apartment has been reserved by a new resident who has paid their entrance fee; there is no deadline.
- Kept on move-in
- 4% of the fee
- Declines by
- 2% a month for 23 months
- Never less than
- 50% of the fee
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
90% Refundablep. 27
4% is non-refundable and the refund drops 1% a month for 6 months, then stays at 90% of the entrance fee. The refund (less unpaid charges) is paid only once your apartment has been reserved by a new resident who has paid their entrance fee; there is no deadline.
- Kept on move-in
- 4% of the fee
- Declines by
- 1% a month for 6 months
- Never less than
- 90% of the fee
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
Range across refund plans (plan not specified)p. 25
Table 21.4 prints one entrance fee per residence without saying which refund option it buys; the Standard, 50% and 90% options are described above.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- Not disclosed in the 2026 filing
- Never less than
- Not disclosed in the 2026 filing
- Longest wait
- No limit stated
- Paid
- Not disclosed in the 2026 filing
Refund calculator
Estimated refund: 0%
When it is paid: when your unit is re-occupied and the new resident has paid. This applies the plan terms as recorded from the filing, counting a part month as a whole one. The signed contract governs, and charges you owe or care paid for from the fee can be deducted first.
How entrance-fee refunds work, and why the payment date matters
Finances
Whether the organisation behind the community has the cash and income to keep its promises for decades.
- Glenaire is part of Brightspire obligated group (The Presbyterian Homes, Inc.: Glenaire, River Landing at Sandy Ridge, Scotia Village), under parent Kintura.
- Balance sheet: Glenaire, Inc. (Glenaire column of the Presbyterian Homes combining statement).
- Ratios: Glenaire, Inc. (community only).
- Ratios are interim figures, unaudited.
Days cash on hand
267 days FY2025p. 40
- Its lenders’ minimum: 120 daysp. 19
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
1.44x FY2025p. 40
- Its lenders’ minimum: 1.20xp. 19
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresUnaudited, and FY2025 is a 15-month period (Oct 2024-Dec 2025) after a fiscal-year-end change. The 267 days appears to count Glenaire's $11.6M statutory operating reserve: its cash ($3.4M) and investments ($16.3M) alone are about 168 days of cash operating expenses (p69, p71). The Brightspire obligated group reports 725 days and 1.87x (p40, p42).
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. 70 | FY2024p. 40 | FY2023p. 40 |
|---|---|---|---|
| Days cash on hand | 267 days | 284 days | 900 days |
| Debt service coverage | 1.44x | 4.26x | 3.25x |
| Operating margin | 12% | 5.83% | -1.56% |
| Total assets | $293.3 million | Not disclosed | Not disclosed |
| Total liabilities | $220.5 million | Not disclosed | Not disclosed |
| Long-term debt | $107.1 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $91.7 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $14.8 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $72.8 million | Not disclosed | Not disclosed |
Auditor: Not disclosed in the 2026 filing. Opinion: Not disclosed in the 2026 filingp. 70
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2025-12 Changed fiscal year-end from September 30 to December 31; FY2025 statements cover 15 months and were unaudited at filing, with the Bernard Robinson & Company audit underway and the statement to be refiled when it is issued.p. 36
Nursing care on campus
From CMS Care Compare, data as of 2026-09-01. These are the federal government’s ratings of the nursing center, not ours.
- Overall
- 5 of 5
- Health inspections
- 4 of 5
- Staffing
- 5 of 5
- Quality measures
- 5 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 4. Glenaire on Care Compare
In brief
Glenaire is a Presbyterian-affiliated continuing care retirement community in Cary with 417 independent living units, 68 assisted living apartments and 71 nursing beds, part of the Kintura / Brightspire group. Entrance fees run from $87,000 to $1,025,000, with standard, 50% and 90% refund options, and residents get 14 days of Health Center care a year included, then nursing at 80% of the daily rate. The FY2025 financial statements in this filing are unaudited and cover a 15-month period after the fiscal year-end moved from September 30 to December 31.PDF
Nearest communities in North Carolina
- The Templeton of Cary
Cary · 2 miles away
Entrance fee: Not disclosed in the 2026 filing
- Searstone Retirement Community
Cary · 3 miles away
Entrance fee: $509,000 to $1,224,000
- The Oaks at Whitaker Glen
Raleigh · 9 miles away
Entrance fee: $124,000 to $783,000
Sources
- Glenaire — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 204 pages · retrieved 2026-10-15
Each page tab above opens this PDF at the page the figure came from. Spotted a figure that does not match its page? Tell us and it is checked against the filing.