Pisgah Valley Retirement Community
104 Holcombe Cove Road, Candler, North Carolina 28715 · Community website
- Operator:
- Pisgah Valley Retirement Center, LLC (managed by Liberty Living Management, LLC)
- Ownership:
- For-profit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1975
Co-providers Pisgah Valley Retirement Center, LLC (operator; owned by Liberty Senior Living, LLC, which is owned by Liberty Healthcare Group, LLC) and Pisgah Valley Retirement Center Properties, LLC (real estate; owned by Liberty Real Properties VII, LLC), audited together as a group of entities under common control. The operator leases the campus from the property company. As of April 30, 2026, 5 of the 72 apartments were still owned by individuals under legacy Unit Owner Contracts.
- Type C (fee for service)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the North Carolina Department of Insurance.PDF
At a glance
Entrance fee, one person, every plan
Monthly fee, independent living
Refund plans offered
- 0% Refund OptionCan decline to nothing
- 90% Refund OptionNever less than 90% of the fee
Days cash on hand
Read the note on this figure
Uses the audited balance sheet's $9,634,971 of cash ($8,419,070) and investments ($1,215,901), which Section 29.1 also states and which gives 215 days on 2025 cash expenses. Tables 29.1-29.2 print $10,472,319 instead (about 234 days). The balance sheet also carries $20,857,249 receivable from related parties and a $3,632,968 owners' note that was due and unpaid at year-end; neither is counted.
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 C (fee for service): Care is charged at market rates when you need it.
How the contract types compare
Type C (fee for service)
Residents pay the then-current Health Care Residence rate for assisted living or nursing, on top of their apartment fee while temporarily transferred; the 24 assisted living units and 118 nursing beds are open to the public but residents get priority. If no bed is free on a permanent transfer, Pisgah Valley arranges care elsewhere and pays any cost above its own rate.p. 100
- Assisted living
- Then-current assisted living rate ($6,760/month single in the current schedule).
- Nursing care
- Then-current skilled nursing rate ($10,533/month single in the current schedule).
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 72 |
|---|---|
| Assisted living | 24 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 118 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residency and Care Agreement · Type C (fee for service) (8 prices, $257,589 to $466,433)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Patio Home - Independent Living - Two Bedroom | 0% Refund Option | $257,589p. 21 | Not listed |
| Patio Home - Independent Living - Two Bedroom | 90% Refund Option | $398,532p. 21 | Not listed |
| Patio Home - Independent Living - Two Bedroom w/ Den | 0% Refund Option | $270,513p. 21 | Not listed |
| Patio Home - Independent Living - Two Bedroom w/ Den | 90% Refund Option | $417,842p. 21 | Not listed |
| Patio Home - Independent Living - Two Bedroom w/ Sunroom | 0% Refund Option | $288,268p. 21 | Not listed |
| Patio Home - Independent Living - Two Bedroom w/ Sunroom | 90% Refund Option | $446,964p. 21 | Not listed |
| Patio Home - Independent Living - Two Bedroom w/ Den + Sunroom | 0% Refund Option | $301,351p. 21 | Not listed |
| Patio Home - Independent Living - Two Bedroom w/ Den + Sunroom | 90% Refund Option | $466,433p. 21 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residency and Care Agreement · Type C (fee for service) (3 prices, $2,426 to $10,533)
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 8% | Percent onlyp. 20 |
| 2024 | Independent living | All units | 10.9% | Percent onlyp. 20 |
| 2023 | Independent living | All units | 8.7% | Percent onlyp. 20 |
| 2022 | Independent living | All units | 5% | Percent onlyp. 20 |
| 2021 | Independent living | All units | 4% | Percent onlyp. 20 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
0% Refund Optionp. 24
90% of the entrance fee is refundable for the first five months, then the refundable share drops 5 points a month to nothing from the 23rd month. Any refund is paid 30 days after a new resident pays in full for the apartment, or 24 months after termination, whichever comes first.
- Kept on move-in
- 10% of the fee
- Declines by
- 5% a month for 22 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- 24 months
- Paid
- When your unit is re-occupied or after 24 months, whichever is first
90% Refund Optionp. 24
90% of the entrance fee stays refundable for the life of the contract. It is paid 30 days after a new resident pays in full for the apartment, or 24 months after termination, whichever comes first.
- Kept on move-in
- 10% of the fee
- Declines by
- Does not decline
- Never less than
- 90% of the fee
- Longest wait
- 24 months
- Paid
- When your unit is re-occupied or after 24 months, whichever is first
Refund calculator
Estimated refund: $0 (0% of the fee)
When it is paid: when your unit is re-occupied or after 24 months, whichever is first. 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: Pisgah Valley (Pisgah Valley Retirement Center, LLC and Pisgah Valley Retirement Center Properties, LLC, combined).
- Ratios: Pisgah Valley Retirement Center, LLC and Pisgah Valley Retirement Center Properties, LLC (provider only).
Days cash on hand
215 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
2.13x FY2025p. 2
- 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 figuresUses the audited balance sheet's $9,634,971 of cash ($8,419,070) and investments ($1,215,901), which Section 29.1 also states and which gives 215 days on 2025 cash expenses. Tables 29.1-29.2 print $10,472,319 instead (about 234 days). The balance sheet also carries $20,857,249 receivable from related parties and a $3,632,968 owners' note that was due and unpaid at year-end; neither is counted.
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. 47 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 215 days | 257 days | 24 days |
| Debt service coverage | 2.13x | 1.68x | 2.58x |
| Operating margin | 20.15% | 18.05% | 16.68% |
| Total assets | $59.0 million | Not disclosed | Not disclosed |
| Total liabilities | $54.9 million | Not disclosed | Not disclosed |
| Long-term debt | $28.2 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $4.6 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $11.7 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $4.1 million | Not disclosed | Not disclosed |
Auditor: Cherry Bekaert LLP. Opinion: Unmodified (clean) opinionp. 47
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2025-12 Amounts previously advanced to owners of Liberty Healthcare by Pisgah Valley Properties were outstanding at December 31, 2025 in the amount of $3,632,968. The advances, under a note agreement bearing interest at 2% per annum, were due and unpaid at December 31, 2025.p. 58
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
- 2 of 5
- Health inspections
- 2 of 5
- Staffing
- 2 of 5
- Quality measures
- 3 of 5
Fines recorded by CMS: 1 totalling $59,391. Health citations since 2023-10-16: 12. Pisgah Manor Health Care Center on Care Compare
In brief
Pisgah Valley Retirement Community in Candler, NC, about 10 miles west of Asheville, is a for-profit continuing care retirement community owned within the Liberty Healthcare Group, with 72 two-bedroom independent living apartments, 24 assisted living units and 118 skilled nursing beds. Entrance fees run from $257,589 to $301,351 with a declining (0%) refund or $398,532 to $466,433 with a 90% refund, plus a $2,426 monthly fee for one person. Assisted living and nursing are charged at current rates, with priority access for residents.PDF
Nearest communities in North Carolina
- Brooks-Howell Home
Asheville · 7 miles away
Entrance fee: Not disclosed in the 2026 filing
- Deerfield Episcopal Retirement Community
Asheville · 9 miles away
Entrance fee: $325,485 to $989,573
- Givens Estates
Asheville · 10 miles away
Entrance fee: $151,809 to $1,508,902
Sources
- Pisgah Valley Retirement Community — 2026 Disclosure Statement (Revision 1)North Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 123 pages · retrieved 2026-10-15
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