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Brookdale Carriage Club Providence and Carmel Hills compared
Two North Carolina communities about 2 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Brookdale Carriage Club Providence | Carmel Hills |
|---|---|---|
| Location | Charlotte, NC | Charlotte, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2026 financesPDF |
| Contract types | Rental | Type B (modified), Type C (fee for service) |
| Entrance fee, one person | None: rental | $12,005 to $279,035p. 15 |
| Monthly fee, independent living | $4,285 to $7,530p. 22p. 23 | $1,810 to $4,840p. 13 |
| Refund plans | None: rental contract | Maple Declining Refund (0% after 21 months); Magnolia Residency Fee (nonrefundable after 30 days)p. 20p. 21 |
| Highest guaranteed refund | None: rental contract | 0% of the feep. 20p. 21 |
| When a refund is paid | None: rental contract | When your unit is re-occupied and the new resident has paidp. 20p. 21 |
| Days cash on hand | 429 days (FY2025)p. 2Counts $24.2M of cash (p30): $12.5M cash plus $11.7M the balance sheet shows as restricted cash (the DOI operating reserve and lender reserves, p48). Cash alone would cover about 221 days of the same expenses. The provider keeps no operating cash of its own; operations are funded through the parent, which took $5.4M in net member distributions in 2025 (p46, p48). | 199 days (FY2026)p. 2Coverage swings widely (1.33x to 6.85x) because Carmel Hills is paying off small individually held bonds as they mature; debt service is about $56,000 a year (p26, p31). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 2.40x (FY2025)p. 2Counts $24.2M of cash (p30): $12.5M cash plus $11.7M the balance sheet shows as restricted cash (the DOI operating reserve and lender reserves, p48). Cash alone would cover about 221 days of the same expenses. The provider keeps no operating cash of its own; operations are funded through the parent, which took $5.4M in net member distributions in 2025 (p46, p48). | 6.85x (FY2026)p. 2Coverage swings widely (1.33x to 6.85x) because Carmel Hills is paying off small individually held bonds as they mature; debt service is about $56,000 a year (p26, p31). |
| Independent living occupancy | 85.8% (2025)p. 19 | 97.9% (2026)p. 10 |
| Net position | $27.3 million (FY2025)p. 43 | $985,535 (FY2026)p. 39 |
| Whose finances | ARCLP – Charlotte, LLC d/b/a Brookdale Carriage Club Providence (stand-alone); ratios for ARCLP – Charlotte, LLC (provider only)p. 43 | Carmel Hills, Inc.p. 39 |
| Audit opinion | Unmodified (clean) opinion, LBMC, PCp. 43 | Unmodified (clean) opinion, Foard & Company, P.A.p. 39 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | No CMS record linked |
What care costs later, in each contract
Brookdale Carriage Club Providence
Rental: Assisted living (Coach House), memory care (the Arbors) and the healthcare center are on campus and available at an additional fee to the extent space is available. No care days, discount or priority are promised in the contract.p. 20
Carmel Hills
Type B (modified): Guaranteed admission to the on-site assisted living unit at a fixed reduced monthly fee of $4,050 (about 37-39% below the Magnolia rate). For nursing care outside, Carmel Hills pays the facility's basic semi-private charge not covered by insurance, as long as the resident keeps paying the monthly fee.p. 74
Type C (fee for service): Priority over outside applicants for the assisted living unit, but no guaranteed bed and no discount on assisted living fees.p. 84