Kendal at Lexington
160 Kendal Drive, Lexington, Virginia 24450
- Operator:
- Lexington Retirement Community, Inc. (d/b/a Kendal at Lexington)
- Ownership:
- Nonprofit
- Affiliation:
- Not disclosed in the 2025 filing
- Opened:
- 2000
Single legal entity, a Virginia 501(c)(3); an affiliate of The Kendal Corporation, which has no ownership and is not responsible for its obligations.
- Type A (life care)
- Type B (modified)
Figures from the 2025 disclosure statement (fiscal 2024 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF The finances describe fiscal 2024; this is the newest statement we have for Kendal at Lexington, and a later one may have been filed since.
At a glance
Monthly fee, independent living
Refund plans offered
- 2% Declining Refund PlanCan decline to nothing
- 50% Refund PlanNever less than 50% of the fee
- 90% Refund PlanNever less than 90% of the fee
Days cash on hand
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 A (life care): Moving to assisted living or nursing leaves your monthly fee essentially unchanged.
- 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 A (life care)
The extensive (Lifecare) contract covers unlimited assisted living and nursing care for the resident's monthly fee, plus a charge for the two extra daily meals.p. 15
- Assisted living
- Unlimited lifetime assisted living included in the monthly fee; additional charge for two additional meals per day.
- Nursing care
- Unlimited lifetime use of the licensed nursing facility included; additional charge for two additional meals per day.
Type B (modified)
The modified contract includes unlimited assisted living and 60 lifetime days of nursing care, then the per diem rate. It costs $35,000 less per person in entry fee and $230 less per person monthly than the extensive contract (declining-refund option), or $47,250 / $66,500 less per person with the 50% / 90% refund options.p. 15
- Assisted living
- Unlimited lifetime assisted living included; additional charge for two additional meals per day.
- Nursing care
- Sixty days of nursing care included; after the benefit is exhausted the resident pays the then-current per diem for the nursing unit (non-contract companion suite rate $335/day).
- Care days included
- 60
| Independent living | 150 |
|---|---|
| Assisted living | 20 |
| Memory care | Not disclosed in the 2025 filing |
| Nursing care | 60 |
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 for Extensive Coverage of Continuing Care · Type A (life care) (78 prices, $197,900 to $1,578,710)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| Studio (A) | 550 | 2% Declining Refund Plan | $197,900p. 18 | Not listed |
| Studio (A) | 550 | 50% Refund Plan | $267,165p. 19 | Not listed |
| Studio (A) | 550 | 90% Refund Plan | $376,010p. 19 | Not listed |
| One Bedroom (B) | 750 | 2% Declining Refund Plan | $297,500p. 18 | $121,600 |
| One Bedroom (B) | 750 | 50% Refund Plan | $401,625p. 19 | $164,200 |
| One Bedroom (B) | 750 | 90% Refund Plan | $565,250p. 19 | $231,100 |
| One Bedroom/Den (C) | 886 | 2% Declining Refund Plan | $355,700p. 18 | $121,600 |
| One Bedroom/Den (C) | 886 | 50% Refund Plan | $480,195p. 19 | $164,200 |
| One Bedroom/Den (C) | 886 | 90% Refund Plan | $675,830p. 19 | $231,100 |
| Two Bedroom (D&E) | 1,170 | 2% Declining Refund Plan | $460,400p. 18 | $121,600 |
| Two Bedroom (D&E) | 1,170 | 50% Refund Plan | $621,540p. 19 | $164,200 |
| Two Bedroom (D&E) | 1,170 | 90% Refund Plan | $874,760p. 19 | $231,100 |
| Two Bedroom/Den (F) | 1,320 | 2% Declining Refund Plan | $511,600p. 18 | $121,600 |
| Two Bedroom/Den (F) | 1,320 | 50% Refund Plan | $690,660p. 19 | $164,200 |
| Two Bedroom/Den (F) | 1,320 | 90% Refund Plan | $972,040p. 19 | $231,100 |
| One Bedroom/Den (G) | 1,000 | 2% Declining Refund Plan | $407,000p. 18 | $121,600 |
| One Bedroom/Den (G) | 1,000 | 50% Refund Plan | $549,450p. 19 | $164,200 |
| One Bedroom/Den (G) | 1,000 | 90% Refund Plan | $773,300p. 19 | $231,100 |
| One Bedroom/Den (H) | 1,180 | 2% Declining Refund Plan | $466,500p. 18 | $121,600 |
| One Bedroom/Den (H) | 1,180 | 50% Refund Plan | $629,775p. 19 | $164,200 |
| One Bedroom/Den (H) | 1,180 | 90% Refund Plan | $886,350p. 19 | $231,100 |
| Two Bedroom (I) | 1,300 | 2% Declining Refund Plan | $511,600p. 18 | $121,600 |
| Two Bedroom (I) | 1,300 | 50% Refund Plan | $690,660p. 19 | $164,200 |
| Two Bedroom (I) | 1,300 | 90% Refund Plan | $972,040p. 19 | $231,100 |
| Two Bedroom/Den (J) | 1,500 | 2% Declining Refund Plan | $602,900p. 18 | $121,600 |
| Two Bedroom/Den (J) | 1,500 | 50% Refund Plan | $813,915p. 19 | $164,200 |
| Two Bedroom/Den (J) | 1,500 | 90% Refund Plan | $1,145,510p. 19 | $231,100 |
| Two Bedroom/Den Deluxe (K) | 1,725 | 2% Declining Refund Plan | $687,500p. 18 | $121,600 |
| Two Bedroom/Den Deluxe (K) | 1,725 | 50% Refund Plan | $928,125p. 19 | $164,200 |
| Two Bedroom/Den Deluxe (K) | 1,725 | 90% Refund Plan | $1,306,250p. 19 | $231,100 |
| One Bedroom (L) | 795 | 2% Declining Refund Plan | $309,500p. 18 | $121,600 |
| One Bedroom (L) | 795 | 50% Refund Plan | $417,825p. 19 | $164,200 |
| One Bedroom (L) | 795 | 90% Refund Plan | $588,050p. 19 | $231,100 |
| Isabels Cottage (Z) | 795 | 2% Declining Refund Plan | $321,000p. 18 | $121,600 |
| Isabels Cottage (Z) | 795 | 50% Refund Plan | $433,350p. 19 | $164,200 |
| Isabels Cottage (Z) | 795 | 90% Refund Plan | $609,900p. 19 | $231,100 |
| One Bedroom/Den (M) | 950 | 2% Declining Refund Plan | $381,000p. 18 | $121,600 |
| One Bedroom/Den (M) | 950 | 50% Refund Plan | $514,350p. 19 | $164,200 |
| One Bedroom/Den (M) | 950 | 90% Refund Plan | $723,900p. 19 | $231,100 |
| Two Bedroom (N) | 1,240 | 2% Declining Refund Plan | $483,600p. 18 | $121,600 |
| Two Bedroom (N) | 1,240 | 50% Refund Plan | $652,860p. 20 | $164,200 |
| Two Bedroom (N) | 1,240 | 90% Refund Plan | $918,840p. 20 | $231,100 |
| Two Bedroom/Den (O) | 1,375 | 2% Declining Refund Plan | $546,600p. 18 | $121,600 |
| Two Bedroom/Den (O) | 1,375 | 50% Refund Plan | $737,910p. 20 | $164,200 |
| Two Bedroom/Den (O) | 1,375 | 90% Refund Plan | $1,038,540p. 20 | $231,100 |
| Two Bedroom/Den (P) | 1,420 | 2% Declining Refund Plan | $577,900p. 18 | $121,600 |
| Two Bedroom/Den (P) | 1,420 | 50% Refund Plan | $780,165p. 20 | $164,200 |
| Two Bedroom/Den (P) | 1,420 | 90% Refund Plan | $1,098,010p. 20 | $231,100 |
| Two Bedroom/Den (Q) | 1,460 | 2% Declining Refund Plan | $587,100p. 18 | $121,600 |
| Two Bedroom/Den (Q) | 1,460 | 50% Refund Plan | $792,585p. 20 | $164,200 |
| Two Bedroom/Den (Q) | 1,460 | 90% Refund Plan | $1,115,490p. 20 | $231,100 |
| Two Bedroom/Den (R) | 1,600 | 2% Declining Refund Plan | $637,100p. 18 | $121,600 |
| Two Bedroom/Den (R) | 1,600 | 50% Refund Plan | $860,085p. 20 | $164,200 |
| Two Bedroom/Den (R) | 1,600 | 90% Refund Plan | $1,210,490p. 20 | $231,100 |
| One Bedroom/Den (S) | 1,300 | 2% Declining Refund Plan | $522,700p. 18 | $121,600 |
| One Bedroom/Den (S) | 1,300 | 50% Refund Plan | $705,645p. 20 | $164,200 |
| One Bedroom/Den (S) | 1,300 | 90% Refund Plan | $993,130p. 20 | $231,100 |
| Two Bedroom (T) | 1,500 | 2% Declining Refund Plan | $609,900p. 18 | $121,600 |
| Two Bedroom (T) | 1,500 | 50% Refund Plan | $823,365p. 20 | $164,200 |
| Two Bedroom (T) | 1,500 | 90% Refund Plan | $1,158,810p. 20 | $231,100 |
| Two Bedroom (T+) | 1,500 | 2% Declining Refund Plan | $652,700p. 18 | $121,600 |
| Two Bedroom (T+) | 1,500 | 50% Refund Plan | $881,145p. 20 | $164,200 |
| Two Bedroom (T+) | 1,500 | 90% Refund Plan | $1,240,130p. 20 | $231,100 |
| Two Bedroom/Den (U) | 2,000 | 2% Declining Refund Plan | $785,400p. 18 | $121,600 |
| Two Bedroom/Den (U) | 2,000 | 50% Refund Plan | $1,060,290p. 20 | $164,200 |
| Two Bedroom/Den (U) | 2,000 | 90% Refund Plan | $1,492,260p. 20 | $231,100 |
| Two Bedroom/Den (U+) | 2,000 | 2% Declining Refund Plan | $830,900p. 18 | $121,600 |
| Two Bedroom/Den (U+) | 2,000 | 50% Refund Plan | $1,121,715p. 20 | $164,200 |
| Two Bedroom/Den (U+) | 2,000 | 90% Refund Plan | $1,578,710p. 20 | $231,100 |
| Two Bedroom (S3) | 1,400 | 2% Declining Refund Plan | $561,700p. 18 | $121,600 |
| Two Bedroom (S3) | 1,400 | 50% Refund Plan | $758,295p. 20 | $164,200 |
| Two Bedroom (S3) | 1,400 | 90% Refund Plan | $1,067,230p. 20 | $231,100 |
| Two Bedroom (TX3) | 1,500 | 2% Declining Refund Plan | $609,900p. 18 | $121,600 |
| Two Bedroom (TX3) | 1,500 | 50% Refund Plan | $823,365p. 20 | $164,200 |
| Two Bedroom (TX3) | 1,500 | 90% Refund Plan | $1,158,810p. 20 | $231,100 |
| Two Bedroom/Den (U3) | 1,750 | 2% Declining Refund Plan | $709,200p. 18 | $121,600 |
| Two Bedroom/Den (U3) | 1,750 | 50% Refund Plan | $957,420p. 20 | $164,200 |
| Two Bedroom/Den (U3) | 1,750 | 90% Refund Plan | $1,347,480p. 20 | $231,100 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Care Agreement for Extensive Coverage of Continuing Care · Type A (life care) (26 prices, $4,061 to $6,146)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Studio (A) | Independent living | $4,061p. 18 | Not listed |
| One Bedroom (B) | Independent living | $4,443p. 18 | $2,017 |
| One Bedroom/Den (C) | Independent living | $4,847p. 18 | $2,017 |
| Two Bedroom (D&E) | Independent living | $5,210p. 18 | $2,017 |
| Two Bedroom/Den (F) | Independent living | $5,498p. 18 | $2,017 |
| One Bedroom/Den (G) | Independent living | $5,089p. 18 | $2,017 |
| One Bedroom/Den (H) | Independent living | $5,182p. 18 | $2,017 |
| Two Bedroom (I) | Independent living | $5,476p. 18 | $2,017 |
| Two Bedroom/Den (J) | Independent living | $5,854p. 18 | $2,017 |
| Two Bedroom/Den Deluxe (K) | Independent living | $6,146p. 18 | $2,017 |
| One Bedroom (L) | Independent living | $4,443p. 18 | $2,017 |
| Isabels Cottage (Z) | Independent living | $4,368p. 18 | $2,017 |
| One Bedroom/Den (M) | Independent living | $4,847p. 18 | $2,017 |
| Two Bedroom (N) | Independent living | $5,210p. 18 | $2,017 |
| Two Bedroom/Den (O) | Independent living | $5,498p. 18 | $2,017 |
| Two Bedroom/Den (P) | Independent living | $5,690p. 18 | $2,017 |
| Two Bedroom/Den (Q) | Independent living | $5,690p. 18 | $2,017 |
| Two Bedroom/Den (R) | Independent living | $5,880p. 18 | $2,017 |
| One Bedroom/Den (S) | Independent living | $5,476p. 18 | $2,017 |
| Two Bedroom (T) | Independent living | $5,854p. 18 | $2,017 |
| Two Bedroom (T+) | Independent living | $5,854p. 18 | $2,017 |
| Two Bedroom/Den (U) | Independent living | $6,146p. 18 | $2,017 |
| Two Bedroom/Den (U+) | Independent living | $6,146p. 18 | $2,017 |
| Two Bedroom (S3) | Independent living | $5,691p. 18 | $2,017 |
| Two Bedroom (TX3) | Independent living | $5,854p. 18 | $2,017 |
| Two Bedroom/Den (U3) | Independent living | $6,146p. 18 | $2,017 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 4% | Percent onlyp. 22 |
| 2025 | Assisted living | All units | 4% | Percent onlyp. 22 |
| 2024 | Independent living | All units | 4.75% | Percent onlyp. 22 |
| 2024 | Assisted living | All units | 4.75% | Percent onlyp. 22 |
| 2023 | Independent living | All units | 6% | Percent onlyp. 22 |
| 2023 | Assisted living | All units | 6% | Percent onlyp. 22 |
| 2022 | Independent living | All units | 4% | Percent onlyp. 22 |
| 2022 | Assisted living | All units | 4% | Percent onlyp. 22 |
| 2021 | Independent living | All units | 2.75% | Percent onlyp. 22 |
| 2021 | Assisted living | All units | 3% | Percent onlyp. 22 |
| 2020 | Independent living | All units | 2.5% | Percent onlyp. 22 |
| 2020 | Assisted living | All units | 6% | Percent onlyp. 22 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
2% Declining Refund Planp. 51
Within the first 90 days the entry fee is refunded less a 2% penalty. After that the refund is the entry fee less 2% for each month since the occupancy date, reaching nothing after 50 months. Refunds after occupancy are paid only once a new resident has signed for and paid the entry fee on the vacated residence.
- Kept on move-in
- Not disclosed in the 2025 filing
- Declines by
- 2% a month for 50 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% Refund Planp. 52
Same 2% monthly decline from the occupancy date, but the refund never falls below 50% of the total entry fee. Paid once the residence is reoccupied by a new resident who has paid the entry fee. Persons over 85 are not eligible for this option.
- Kept on move-in
- Not disclosed in the 2025 filing
- Declines by
- 2% a month for 25 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% Refund Planp. 52
Same 2% monthly decline from the occupancy date, but the refund never falls below 90% of the total entry fee. Paid once the residence is reoccupied by a new resident who has paid the entry fee. Persons over 85 are not eligible for this option.
- Kept on move-in
- Not disclosed in the 2025 filing
- Declines by
- 2% a month for 5 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
Refund calculator
Estimated refund: $0 (0% of the fee)
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.
- Balance sheet and ratios: Lexington Retirement Community, Inc.
Days cash on hand
1,047 days FY2024p. 111
- Its lenders’ minimum: 120 daysp. 23
- 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 2025 filing
- Its lenders’ minimum: 1.20xp. 23
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
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 | FY2024p. 111 | FY2023p. 111 |
|---|---|---|
| Days cash on hand | 1047 days | Not disclosed |
| Total assets | $120.6 million | $113.7 million |
| Total liabilities | $96.8 million | $94.3 million |
| Long-term debt | $40.4 million | $41.8 million |
| Entrance fees not yet earned (deferred revenue) | $50.4 million | $46.3 million |
| Refunds owed to residents (refundable fee liability) | $2.1 million | $2.1 million |
| Net position (assets minus liabilities) | $23.8 million | $19.4 million |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 111
Occupancy
| Level of care | 2024p. 171 |
|---|---|
| Independent living | 94.2% |
| Assisted living | 82.8% |
| Memory care | Not disclosed |
| Nursing care | 60.8% |
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
- 4 of 5
- Health inspections
- 2 of 5
- Staffing
- 5 of 5
- Quality measures
- 5 of 5
Fines recorded by CMS: 1 totalling $10,033. Health citations since 2023-10-16: 15. KENDAL AT LEXINGTON on Care Compare
CARF-accredited since 2009. Check on CARF’s site
In brief
Kendal at Lexington, operated by Lexington Retirement Community, Inc., a nonprofit affiliate of The Kendal Corporation, has 150 independent living residences, 20 assisted living apartments and a 60-bed nursing facility in Lexington, Virginia. Extensive (Lifecare) entry fees range from $197,900 to $830,900 single with a 2% monthly declining refund, and up to $1,578,710 with a 90% guaranteed refund; a modified contract with 60 days of nursing care costs less. The 2024 audit reports 1,047 days cash on hand against a 120-day covenant.PDF
Nearest communities in Virginia
- Westminster Canterbury of Lynchburg
Lynchburg · 27 miles away
Entrance fee: $61,376 to $560,727
- The Summit
Lynchburg · 32 miles away
Entrance fee: $133,000 to $891,000
- The Glebe
Daleville · 35 miles away
Entrance fee: $165,000 to $875,000
Sources
- Kendal at Lexington — Disclosure Statement (April 2025)Virginia State Corporation Commission, Bureau of Insurance · filed 2025, fiscal 2024 finances · 177 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.