Windsor Run
2030 Windsor Run Lane, Matthews, North Carolina 28105 · Community website
- Operator:
- Windsor Run, LLC (managed by Erickson Senior Living, LLC)
- Ownership:
- For-profit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 2018
Windsor Run, LLC is 90% owned by Erickson Living Properties II, LLC (wholly owned by Erickson Living Holdings, LLC) and 10% by NSC Windsor Run, Inc., owned by nonprofit National Senior Communities, Inc. The campus is collateral for Erickson Living Holdings' $2.2 billion Truist-led credit facility maturing November 14, 2030.
- 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
- 90% RefundNever less than 90% of the fee
- Declining Balance Refund (0% after 48 months)Can decline to nothing
Days cash on hand
Read the note on this figure
27 days counts only operating cash ($2.96M, p47). The balance sheet also holds $8.28M of resident capital cash (entrance fee and deposit money) not counted. The community has no long-term debt of its own, but its campus secures its parent Erickson Living Holdings' $2.2 billion credit facility, and it relies on member contributions ($55.7M in 2025) for construction.
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)
Fee-for-service: a resident who moves permanently to a Continuing Care bed pays the applicable per diem or Monthly Service Package for that level of care, and during a temporary transfer pays both the independent living fee (less a small non-occupancy credit) and the care unit's prorated fee. Residents have priority access to the Continuing Care beds; outside direct admissions pay a $2,500 non-refundable community fee.p. 78
- Assisted living
- Assisted living Monthly Service Package (2026 base from $8,355 to $10,277) plus a care package of $1,357 to $6,134
- Nursing care
- Applicable per diem (daily service fee) for nursing on permanent transfer (p78, p84); the nursing rate table in Section 21 repeats the assisted living table and no nursing rate is otherwise printed
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 705 |
|---|---|
| Assisted living | 10 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 36 |
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 - 90% Refund · Type C (fee for service) (2 prices, $280,000 to $1,149,000)
Residence and Care Agreement - Fully Declining Refund · Type C (fee for service) (2 prices, $195,000 to $805,000)
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Care Agreement - 90% Refund · Type C (fee for service) (6 prices, $2,989 to $10,277)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| 1 Bedroom | Independent living | $2,989 to $3,705p. 17 | $1,170 |
| 2 Bedroom | Independent living | $3,638 to $6,028p. 17 | $1,170 |
| Studio – Brodie (base fee, from) | Assisted living | from $8,613p. 18 | $2,648 |
| Studio – Avery (base fee, from) | Assisted living | from $8,355p. 18 | $2,648 |
| Studio Suites (base fee, from) | Assisted living | from $8,613p. 18 | $2,648 |
| One Bedroom (base fee, from) | Assisted living | from $10,277p. 18 | $2,648 |
Residence and Care Agreement - Fully Declining Refund · Type C (fee for service) (6 prices, $2,989 to $10,277)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| 1 Bedroom | Independent living | $2,989 to $3,705p. 17 | $1,170 |
| 2 Bedroom | Independent living | $3,638 to $6,028p. 17 | $1,170 |
| Studio – Brodie (base fee, from) | Assisted living | from $8,613p. 18 | $2,648 |
| Studio – Avery (base fee, from) | Assisted living | from $8,355p. 18 | $2,648 |
| Studio Suites (base fee, from) | Assisted living | from $8,613p. 18 | $2,648 |
| One Bedroom (base fee, from) | Assisted living | from $10,277p. 18 | $2,648 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 4% | Percent onlyp. 20 |
| 2025 | Assisted living | All units | 5% | Percent onlyp. 20 |
| 2025 | Memory care | All units | 5% | Percent onlyp. 20 |
| 2025 | Nursing care | All units | 5% | Percent onlyp. 21 |
| 2024 | Independent living | All units | 5% | Percent onlyp. 20 |
| 2024 | Assisted living | All units | 7% | Percent onlyp. 20 |
| 2024 | Memory care | All units | 7% | Percent onlyp. 20 |
| 2024 | Nursing care | All units | 7% | Percent onlyp. 21 |
| 2023 | Independent living | All units | 9.2% | Percent onlyp. 20 |
| 2023 | Assisted living | All units | 10% | Percent onlyp. 20 |
| 2023 | Memory care | All units | 10% | Percent onlyp. 20 |
| 2023 | Nursing care | All units | 10% | Percent onlyp. 21 |
| 2022 | Independent living | All units | 4.2% | Percent onlyp. 20 |
| 2022 | Assisted living | All units | 6% | Percent onlyp. 20 |
| 2022 | Memory care | All units | 6% | Percent onlyp. 20 |
| 2022 | Nursing care | All units | 6% | Percent onlyp. 21 |
| 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.
90% Refundp. 28
Windsor Run keeps a 10% Community Fee; 90% of the entrance fee comes back. After the unit is vacated, released and the final bill settled, you get a refund number and are paid within 60 days of reaching the front of the queue, once the Refund Account (funded by new entrance fees from any independent living unit) holds enough. Payments can pause if the account is short.
- Kept on move-in
- 10% of the fee
- Declines by
- Does not decline
- Never less than
- 90% of the fee
- Longest wait
- No limit stated
- Paid
- In turn, from a fund of new residents' entrance fees
Declining Balance Refund (0% after 48 months)p. 27
Within the first 48 months the refund is the entrance fee less a 4% processing fee and 2% for each month of occupancy, including the last partial month; after 48 months nothing is refunded. Any refund is paid within 180 days after the unit is vacated and keys returned, not tied to resale.
- 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
- 6 months
- Paid
- Within a fixed number of days
Refund calculator
Estimated refund: $252,000 (90% of the fee)
When it is paid: in turn, from a fund of new residents' entrance fees. 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: Windsor Run, LLC.
Days cash on hand
27 days FY2025p. 36
- 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 figures27 days counts only operating cash ($2.96M, p47). The balance sheet also holds $8.28M of resident capital cash (entrance fee and deposit money) not counted. The community has no long-term debt of its own, but its campus secures its parent Erickson Living Holdings' $2.2 billion credit facility, and it relies on member contributions ($55.7M in 2025) for construction.
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. 36 | FY2023p. 36 |
|---|---|---|---|
| Days cash on hand | 27 days | 20 days | 127 days |
| Operating margin | -2.8% | 0.3% | -3.2% |
| Total assets | $375.9 million | Not disclosed | Not disclosed |
| Total liabilities | $246.2 million | Not disclosed | Not disclosed |
| Long-term debt | $0 | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $42.1 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $184.1 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $129.7 million | Not disclosed | Not disclosed |
Auditor: RSM US LLP. Opinion: Unmodified (clean) opinionp. 47
Occupancy
Nursing care on campus
We have not linked this community’s nursing center to a CMS record. Nursing centers certified by Medicare can be looked up on CMS Care Compare.
In brief
Windsor Run is an Erickson Living community in Matthews that opened its first independent living buildings in May 2018 and its first assisted living and nursing phase in September 2021; it reported 705 independent living units, 10 assisted living units and 36 nursing units at the end of 2025, with a second care phase projected for 2028-2030. Entrance fees run from $280,000 to $1,149,000 under a 90% refund plan paid from a pooled refund account, or $195,000 to $805,000 under a plan that declines to no refund after 48 months, with 2026 monthly fees of $2,989 to $6,028; assisted living and nursing are charged at the published rates for that level of care. Windsor Run reported operating losses in 2025 and 2024 and days cash on hand of 127, 20 and 27 for FY2023-2025; it has no long-term debt of its own, and its member contributed $55.7 million in 2025, which the statement says is funding construction.PDF
Nearest communities in North Carolina
- Matthews Glen
Matthews · 2 miles away
Entrance fee: $196,900 to $1,006,900
- Brookdale Carriage Club Providence
Charlotte · 5 miles away
Entrance fee: None: rental
- Carmel Hills
Charlotte · 6 miles away
Entrance fee: $12,005 to $279,035
Sources
- Windsor Run — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 301 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.