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Brandermill Woods and Lakewood compared
Two Virginia communities about 10 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Brandermill Woods | Lakewood |
|---|---|---|
| Location | Midlothian, VA | Richmond, VA |
| Filing used | 2025 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Rental, Type B (modified) | Type A (life care), Type B (modified) |
| Entrance fee, one person | $57,096p. 12 | $78,000 to $1,410,000p. 14p. 15 |
| Monthly fee, independent living | $4,669 to $7,019p. 27 | $3,091 to $9,349p. 14p. 15 |
| Refund plans | Refundable escrowed Entrance Feep. 14 | Standard; 90% Refundablep. 60p. 61 |
| Highest guaranteed refund | 100% of the feep. 14 | 90% of the feep. 60p. 61 |
| When a refund is paid | Within a fixed number of daysp. 14 | When your unit is re-occupied and the new resident has paidp. 60p. 61 |
| Days cash on hand | 243 days (FY2025)p. 63 | 266 days (FY2025, interim)p. 98Figures for LifeSpire of Virginia Obligated Group. |
| Its lenders' minimum | At least 150 daysp. 62 | At least 120 daysp. 24 |
| Debt service coverage | 1.81x (FY2025)p. 63 | 2.31x (FY2025, interim)p. 98Figures for LifeSpire of Virginia Obligated Group. |
| Independent living occupancy | 97% (2025)p. 75 | 95.8% (2025)p. 23 |
| Net position | $46.9 million (FY2025)p. 63 | −$7.9 million (FY2025)p. 98 |
| Whose finances | Senior Living Choices of Virginia, Inc.p. 63 | Virginia Baptist Homes, Inc. dba LifeSpire of Virginia and Subsidiaries (consolidated); ratios for LifeSpire of Virginia Obligated Groupp. 98 |
| Audit opinion | Unmodified (clean) opinion, Dauby O'Connor & Zaleski, LLCp. 63 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 98 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 3 of 5 (CMS overall) |
What care costs later, in each contract
Brandermill Woods
Type B (modified): Entry Fee/CCRC residents get priority admission and a 5% discount on assisted living and nursing fees, and may pay care costs out of their escrowed entrance fee until it runs out.p. 9
Rental: Rental residents pay the regular assisted living and nursing rates. Residents who have signed a Residency Agreement get priority over outside admissions to The Haven, and all residents get a once-a-year $1,000 credit after a 30-day health-care stay not covered by insurance.p. 8
Lakewood
Type A (life care): Life-Care residents keep paying their independent-living monthly fee, plus two meals a day, in assisted living or the Health Care Center; the couples rate still applies when one or both are in care. Residents get priority admittance when the Health Care Center is full.p. 16
Type B (modified): Fee for Service residents pay the published daily rate for assisted living, memory support and nursing, less 10%. Residents transferred out for lack of space get priority admittance when a bed becomes available.p. 46