The East Tower at Cardinal North Hills
320 St. Albans Drive, Raleigh, North Carolina 27609 · Community website
- Operator:
- Tower at The Cardinal, LLC (managed by Kisco Senior Living, LLC)
- Ownership:
- For-profit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 2023
Tower at The Cardinal, LLC is wholly owned by KSL Toledo Tenant, LLC (majority-owned by Andrew S. Kohlberg), which leases the building to it through April 2036 (rent $12.7M in FY2025). Memory care and skilled nursing are provided next door by affiliate The Cardinal at North Hills Healthcare, LLC at the sister community The Cardinal at North Hills.
- Rental
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
Days cash on hand
Read the note on this figure
Cash on hand covered 8 days of operating costs at the end of 2025, 2 days at the end of 2024 and 0 days at the end of 2023 (FS-1, p2): year-end 2025 cash was $538,885 against about $26M a year of expenses, most of it $12.7M rent. The state-required operating reserve is not held as cash or investments; it is met by a $6.8M irrevocable standby letter of credit from Credit Agricole, which cannot be drawn for any purpose, including fee refunds, without regulator approval (pp27-28).
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.
- Rental: No entrance fee and no promise of future care.
How the contract types compare
RentalThe filing calls it Residency Agreement; we class contracts by how care is priced (our definitions).
No care is prepaid. Assisted living is on site at market monthly fees plus point-based care charges; memory care and nursing require moving to the affiliate's Health Center at the adjacent Cardinal at North Hills, which ends this agreement and is fee-for-service.p. 111
- Assisted living
- Separate Assisted Living Residence and Care Agreement: monthly fee $8,816-$12,703 plus level-of-care fees of $1,775 (Level I) to $4,800 (Level V) per month
- Nursing care
- Fee-for-service at The Cardinal at North Hills Health Center under a separate agreement with the affiliate; rates not stated in this disclosure
| Independent living | 151 |
|---|---|
| Assisted living | 49 |
| Memory care | None on campus |
| Nursing care | None on campus |
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:
Rental CCRC: a one-time $50,000 community fee for independent living (non-refundable after the 30-day cancellation period) plus monthly fees; the initial term is 12 months. Assisted living is on site under a separate agreement with point-based level-of-care fees; memory care and skilled nursing are fee-for-service at the adjacent Cardinal at North Hills Health Center under a new agreement with the affiliate. One-time community fee: $50,000 (p. 21), non-refundable after the 30-day cancellation period (p. 22) — not an entrance fee.PDF
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residency Agreement · Rental (7 prices, $7,653 to $15,515)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| 1 Bedroom/1 Bath | Independent living | $7,653p. 19 | $1,105 |
| 1 Bedroom/1 Bath/Den | Independent living | $8,656p. 19 | $1,105 |
| 2 Bedroom/ 2 Bath | Independent living | $10,666p. 19 | $1,105 |
| 2 Bedroom/2 Bath/Den | Independent living | $10,787p. 19 | $1,105 |
| 2 Bedroom/2.5 Bath/Den | Independent living | $12,816p. 19 | $1,105 |
| 2 Bedroom/2.5 Bath/Den Deluxe | Independent living | $12,455p. 19 | $1,105 |
| Penthouse | Independent living | $15,515p. 19 | $1,105 |
Assisted Living Residence and Care Agreement · Rental (6 prices, $8,816 to $12,703)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Studio | Assisted living | $8,816p. 19 | $1,300 |
| 1 Bedroom/1 Bath | Assisted living | $10,950p. 19 | $1,300 |
| 1 Bedroom/1 Bath/Den | Assisted living | $10,935p. 19 | $1,300 |
| 2 Bedroom/1 Bath | Assisted living | $11,937p. 19 | $1,300 |
| 2 Bedroom/2 Bath | Assisted living | $12,315p. 19 | $1,300 |
| 2 Bedroom/2 Bath/Den | Assisted living | $12,703p. 20 | $1,300 |
Fee increases, year by year
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
No entrance-fee refund plan: residents rent.
Finances
Whether the organisation behind the community has the cash and income to keep its promises for decades.
- Balance sheet and ratios: Tower at The Cardinal, LLC.
Days cash on hand
8 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 figuresCash on hand covered 8 days of operating costs at the end of 2025, 2 days at the end of 2024 and 0 days at the end of 2023 (FS-1, p2): year-end 2025 cash was $538,885 against about $26M a year of expenses, most of it $12.7M rent. The state-required operating reserve is not held as cash or investments; it is met by a $6.8M irrevocable standby letter of credit from Credit Agricole, which cannot be drawn for any purpose, including fee refunds, without regulator approval (pp27-28).
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. 39 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 8 days | 2 days | 0 days |
| Operating margin | -1.65% | -9.74% | -40.43% |
| Total assets | $1.5 million | Not disclosed | Not disclosed |
| Total liabilities | $1.7 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) | $0 | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | −$172,750 | Not disclosed | Not disclosed |
Auditor: WithumSmith+Brown, PC. Opinion: Unmodified (clean) opinionp. 39
Occupancy
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
- 3 of 5
- Health inspections
- 4 of 5
- Staffing
- No rating
- Quality measures
- 1 of 5
Fines recorded by CMS: 1 totalling $7,901. Health citations since 2023-10-16: 2. The Cardinal at North Hills on Care Compare
In brief
The East Tower at Cardinal North Hills is a for-profit rental retirement community in an 18-story tower in Raleigh's North Hills, opened in June 2023 next to its sister community The Cardinal at North Hills. Independent living takes a $50,000 non-refundable community fee plus monthly fees of about $7,700-$15,500; assisted living is on site, while memory care and nursing are fee-for-service at the sister campus. At the end of 2025 it had 151 independent and 49 assisted living units, about 99% of independent living occupied. It held 8 days of cash on hand at the end of 2025 (2 in 2024, 0 in 2023), and its state-required operating reserve is a $6.8M bank letter of credit rather than cash.PDF
Nearest communities in North Carolina
- The Oaks at Whitaker Glen
Raleigh · 2 miles away
Entrance fee: $124,000 to $783,000
- Springmoor Life Care Retirement Community
Raleigh · 4 miles away
Entrance fee: $144,500 to $622,800
- The Cypress of Raleigh
Raleigh · 5 miles away
Entrance fee: Purchase + membership fee
- Compare Cypress Glen Retirement Community and The East Tower at Cardinal North Hills
- Compare Springmoor Life Care Retirement Community and The East Tower at Cardinal North Hills
- Compare The Cypress of Raleigh and The East Tower at Cardinal North Hills
- Compare The East Tower at Cardinal North Hills and The Oaks at Whitaker Glen
Sources
- The East Tower at Cardinal North Hills — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 130 pages · retrieved 2026-10-15
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