The Oaks at Whitaker Glen
501 East Whitaker Mill Road, Raleigh, North Carolina 27608 · Community website
- Operator:
- Whitaker Glen, Inc.
- Ownership:
- For-profit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1984
Wholly owned by Cumberland Healthcare Properties, Inc.; ultimate parent United Health Services, Inc., whose affiliates include PruittHealth, Inc. (Subchapter S corporation). The campus real property is leased from affiliate Whitaker Glen Properties, Inc. through August 31, 2032.
- 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
Refund plans offered
- Lineage Plan (existing units)Can decline to nothing
- Heritage Plan (existing units)Never less than 50% of the fee
- Lineage Plan (expansion units)Can decline to nothing
- Heritage Plan (expansion units)Never less than 50% of the fee
- Legacy Plan (expansion units)Never less than 75% of the fee
Days cash on hand
Read the note on this figure
The 171 days hold only by counting the $2,925,704 restricted statutory operating reserve; unrestricted cash was $46,927 at 12/31/2025 (about 3 days). That restricted reserve is below the $3,148,992 required, and the provider counts a $2,587,853 callable note receivable from its ultimate parent, United Health Services, Inc., and a parent guaranty toward the requirement. No debt service in 2023-2025, so coverage is not applicable. The on-campus skilled nursing facility closed in July 2022.
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)
No care is included. The campus has no assisted living or nursing today; residents are admitted to affiliated PruittHealth facilities when a bed is available and pay those facilities' customary rates, and stop paying the monthly service fee after a permanent transfer.p. 18
- Assisted living
- Customary rates of the Health Care Center or affiliated facility
- Nursing care
- Customary rates of the Health Care Center or affiliated facility (PruittHealth – Raleigh, Carolina Point, Durham)
| Independent living | 93 |
|---|---|
| Assisted living | None on campus |
| 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.
Existing Unit Contract · Type C (fee for service) (6 prices, $124,000 to $305,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Existing - One Bedroom | Lineage Plan (existing units) | $124,000p. 22 | Not listed |
| Existing - One Bedroom | Heritage Plan (existing units) | $184,000p. 22 | Not listed |
| Existing - Two Bedroom | Lineage Plan (existing units) | $208,000p. 22 | Not listed |
| Existing - Two Bedroom | Heritage Plan (existing units) | $277,500p. 22 | Not listed |
| Existing - Two Bedroom Deluxe | Lineage Plan (existing units) | $249,000p. 22 | Not listed |
| Existing - Two Bedroom Deluxe | Heritage Plan (existing units) | $305,000p. 22 | Not listed |
Expansion Unit Contract · Type C (fee for service) (6 prices, $177,000 to $783,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Expansion - Studio (One Bedroom) | Lineage Plan (expansion units) | $177,000p. 23 | Not listed |
| Expansion - Studio (One Bedroom) | Heritage Plan (expansion units) | $276,000p. 23 | Not listed |
| Expansion - Studio (One Bedroom) | Legacy Plan (expansion units) | $348,000p. 23 | Not listed |
| Expansion - Duo (Two Bedroom) | Lineage Plan (expansion units) | $436,000p. 24 | Not listed |
| Expansion - Duo (Two Bedroom) | Heritage Plan (expansion units) | $695,000p. 24 | Not listed |
| Expansion - Duo (Two Bedroom) | Legacy Plan (expansion units) | $783,000p. 24 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Existing Unit Contract · Type C (fee for service) (3 prices, $2,500 to $3,800)
Expansion Unit Contract · Type C (fee for service) (2 prices, $2,500 to $6,200)
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | -20.9% | Percent onlyp. 21 |
| 2024 | Independent living | All units | 6.7% | Percent onlyp. 21 |
| 2023 | Independent living | All units | 6.6% | Percent onlyp. 21 |
| 2022 | Independent living | All units | 7% | Percent onlyp. 21 |
| 2021 | Independent living | All units | 4.7% | Percent onlyp. 21 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Lineage Plan (existing units)p. 25
The non-refundable initiation fee is kept. The residential entrance fee refund falls 4% a month and reaches $0 after 25 months. Paid within 30 days after your unit is occupied by another resident.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- 4% a month for 25 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
Heritage Plan (existing units)p. 25
The non-refundable initiation fee is kept. The residential entrance fee refund falls 2% a month for 25 months to a 50% floor. Paid within 30 days after your unit is occupied by another resident.
- Kept on move-in
- Not disclosed in the 2026 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
Lineage Plan (expansion units)p. 25
Refund falls 4% a month and reaches $0 after 25 months. Paid within 30 days through a floor-plan refund group: residents are paid in date order as units of the same floor plan are newly occupied.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- 4% a month for 25 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- No limit stated
- Paid
- In turn, from a fund of new residents' entrance fees
Heritage Plan (expansion units)p. 25
Refund falls 2% a month for 25 months to a 50% floor. Paid within 30 days through a floor-plan refund group: residents are paid in date order as units of the same floor plan are newly occupied.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- 2% a month for 25 months
- Never less than
- 50% of the fee
- Longest wait
- No limit stated
- Paid
- In turn, from a fund of new residents' entrance fees
Legacy Plan (expansion units)p. 25
Refund falls 1% a month for 25 months to a 75% floor. Paid within 30 days through a floor-plan refund group: residents are paid in date order as units of the same floor plan are newly occupied.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- 1% a month for 25 months
- Never less than
- 75% of the fee
- Longest wait
- No limit stated
- Paid
- In turn, from a fund of new residents' entrance fees
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: Whitaker Glen, Inc.
Days cash on hand
171 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 171 days hold only by counting the $2,925,704 restricted statutory operating reserve; unrestricted cash was $46,927 at 12/31/2025 (about 3 days). That restricted reserve is below the $3,148,992 required, and the provider counts a $2,587,853 callable note receivable from its ultimate parent, United Health Services, Inc., and a parent guaranty toward the requirement. No debt service in 2023-2025, so coverage is not applicable. The on-campus skilled nursing facility closed in July 2022.
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. 49 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 171 days | 197 days | 258 days |
| Operating margin | -83.6% | -60.5% | -23.4% |
| Total assets | $18.9 million | Not disclosed | Not disclosed |
| Total liabilities | $12.9 million | Not disclosed | Not disclosed |
| Long-term debt | $0 | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $1.3 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $4.2 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $6.0 million | Not disclosed | Not disclosed |
Auditor: Mauldin & Jenkins, LLC. Opinion: Unmodified (clean) opinionp. 49
Occupancy
| Level of care | 2025p. 17 | 2024p. 17 | 2023p. 17 | 2022p. 17 | 2021p. 17 |
|---|---|---|---|---|---|
| Independent living | 60.9% | 56% | 60% | 59% | 69% |
| Assisted living | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Memory care | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Nursing care | Not disclosed | Not disclosed | Not disclosed | 54% | 56.7% |
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2026-02 Whitaker Glen, Inc. and its affiliated landlord entered a construction financing arrangement with Hancock Whitney Bank for Phase Two, guaranteed by parent United Health Services, Inc.p. 15
- 2022-07 The on-campus skilled nursing facility closed in July 2022; the occupancy table lists skilled nursing as closed for 2023 through 2025.p. 17
Nursing care on campus
The filing lists no nursing beds on campus, so there is no CMS nursing-home record to show.
In brief
The Oaks at Whitaker Glen is a for-profit retirement community in Raleigh, owned through Cumberland Healthcare Properties by United Health Services, Inc. (whose affiliates include PruittHealth), with 93 independent living units and no on-site assisted living or nursing since its skilled nursing facility closed in July 2022; a four-phase redevelopment plans 29 and then 112 more apartments, 102 assisted living units and 106 nursing beds. Care is fee-for-service at affiliated PruittHealth facilities, and entrance fees run from $124,000 for an existing one-bedroom to $783,000 for an expansion two-bedroom, with refund plans that fall over 25 months to 0%, 50% or 75%. Independent living occupancy averaged 60.9% in 2025, the audited net operating margin was -83.6%, and the provider had no long-term debt at year-end.PDF
Nearest communities in North Carolina
- The East Tower at Cardinal North Hills
Raleigh · 2 miles away
Entrance fee: None: rental
- Springmoor Life Care Retirement Community
Raleigh · 6 miles away
Entrance fee: $144,500 to $622,800
- The Cypress of Raleigh
Raleigh · 7 miles away
Entrance fee: Purchase + membership fee
Sources
- The Oaks at Whitaker Glen — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 156 pages · retrieved 2026-10-15
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