Home › Compare
Friendship Retirement Community and Brandon Oaks compared
Two Virginia communities about 5 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Friendship Retirement Community | Brandon Oaks |
|---|---|---|
| Location | Roanoke, VA | Roanoke, VA |
| Filing used | 2025 statement, fiscal 2025 financesPDF | 2023 statement, fiscal 2022 financesPDF |
| Contract types | Rental | Type A (life care), Type B (modified) |
| Entrance fee, one person | None: rental | $76,900 to $697,700p. 90 |
| Monthly fee, independent living | $1,037 to $2,382p. 87 | $3,008 to $6,408p. 90 |
| Refund plans | None: rental contract | Traditional; 50% Refundable; 90% Refundablep. 17 |
| Highest guaranteed refund | None: rental contract | 90% of the feep. 17 |
| When a refund is paid | None: rental contract | Within a fixed number of days; When your unit is re-occupied and the new resident has paidp. 17 |
| Days cash on hand | Not disclosed in the 2025 filingFigures for Friendship Apartment Village Corp (Exhibit E summary; includes Friendship RL/Richfield Living per its narrative). | 301 days (FY2022)p. 137Figures for Brandon Oaks (DSC); Virginia Lutheran Homes Obligated Group (days cash). Days cash on hand is for the Obligated Group (VLH corporate plus Brandon Oaks), from audit supplementary schedules; debt service coverage is Brandon Oaks alone (Obligated Group 1.39x). |
| Its lenders' minimum | Not disclosed in the 2025 filing | At least 120 daysp. 123 |
| Debt service coverage | Not disclosed in the 2025 filingFigures for Friendship Apartment Village Corp (Exhibit E summary; includes Friendship RL/Richfield Living per its narrative). | 1.43x (FY2022)p. 137Figures for Brandon Oaks (DSC); Virginia Lutheran Homes Obligated Group (days cash). Days cash on hand is for the Obligated Group (VLH corporate plus Brandon Oaks), from audit supplementary schedules; debt service coverage is Brandon Oaks alone (Obligated Group 1.39x). |
| Independent living occupancy | 91.7% (2025)p. 15 | 84.9% (2022)p. 141 |
| Net position | $21.5 million (FY2025)p. 152 | −$17.8 million (FY2022)p. 141 |
| Whose finances | Friendship Apartment Village Corp (Exhibit E summary; includes Friendship RL/Richfield Living per its narrative)p. 152 | Brandon Oaks (Virginia Lutheran Homes, Inc. column); ratios for Brandon Oaks (DSC); Virginia Lutheran Homes Obligated Group (days cash)p. 141 |
| Audit opinion | Unmodified (clean) opinion, Brown Edwards (audit of Friendship Foundation and Subsidiaries, consolidated)p. 152 | Unmodified (clean) opinion, Brown Edwardsp. 141 |
| Nursing care, CMS rating | No CMS record linked | 5 of 5 (CMS overall) |
What care costs later, in each contract
Friendship Retirement Community
Rental: No care is included or discounted: monthly fees cover housing and services plus a visiting-nurse response and assessment program only. Assisted living and nursing are run by legally separate affiliates and paid for separately (p15, p19).p. 19
Brandon Oaks
Type A (life care): Life care residents who move to assisted living, memory care or nursing keep paying their Monthly Service Fee plus two extra meals a day, with priority for admission over the outside community.p. 15
Type B (modified): Covers 365 cumulative days of assisted living or nursing at the prevailing monthly fee (after Medicare or insurance pays its part); after that care is charged at private pay rates. Entrance fees are $25,000 lower (single) than the matching life care plan.p. 54