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Glenaire and The Templeton of Cary 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 | Glenaire | The Templeton of Cary |
|---|---|---|
| Location | Cary, NC | Cary, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Type B (modified) |
| Entrance fee, one person | $87,000 to $1,025,000p. 25p. 26 | Not disclosed in the 2026 filing |
| Monthly fee, independent living | $3,309 to $6,901p. 23p. 24 | $6,098 to $9,413p. 68 |
| Refund plans | Standard; 50% Refundable; 90% Refundable; Range across refund plans (plan not specified)p. 27p. 25 | Not disclosed in the 2026 filing |
| Highest guaranteed refund | 90% of the feep. 27p. 25 | Not disclosed in the 2026 filing |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 27p. 25 | Not disclosed in the 2026 filing |
| Days cash on hand | 267 days (FY2025, interim)p. 40Figures for Glenaire, Inc. (community only). Unaudited, and FY2025 is a 15-month period (Oct 2024-Dec 2025) after a fiscal-year-end change. The 267 days appears to count Glenaire's $11.6M statutory operating reserve: its cash ($3.4M) and investments ($16.3M) alone are about 168 days of cash operating expenses (p69, p71). The Brightspire obligated group reports 725 days and 1.87x (p40, p42). | 51 days (FY2025)p. 2The 51 days rests on $3,330,525 of unrestricted cash and investments. Against a required statutory operating reserve of $7,289,815 that is a deficiency of $3,959,290, which the statement says the community will satisfy with an irrevocable, unconditional letter of credit of $7,289,815 payable to the NC Department of Insurance. The whole $68,852,401 note payable was due to mature on January 30, 2026 and is classified as current; on February 11, 2026 the company entered into a new loan maturing March 2029, with the option to extend for two successive one-year terms, and used it to fully repay that note. |
| Its lenders' minimum | At least 120 daysp. 19 | Not disclosed in the 2026 filing |
| Debt service coverage | 1.44x (FY2025, interim)p. 40Figures for Glenaire, Inc. (community only). Unaudited, and FY2025 is a 15-month period (Oct 2024-Dec 2025) after a fiscal-year-end change. The 267 days appears to count Glenaire's $11.6M statutory operating reserve: its cash ($3.4M) and investments ($16.3M) alone are about 168 days of cash operating expenses (p69, p71). The Brightspire obligated group reports 725 days and 1.87x (p40, p42). | 1.45x (FY2025)p. 2The 51 days rests on $3,330,525 of unrestricted cash and investments. Against a required statutory operating reserve of $7,289,815 that is a deficiency of $3,959,290, which the statement says the community will satisfy with an irrevocable, unconditional letter of credit of $7,289,815 payable to the NC Department of Insurance. The whole $68,852,401 note payable was due to mature on January 30, 2026 and is classified as current; on February 11, 2026 the company entered into a new loan maturing March 2029, with the option to extend for two successive one-year terms, and used it to fully repay that note. |
| Independent living occupancy | 97.36% (2025)p. 21 | 93.7% (2025)p. 16 |
| Net position | $72.8 million (FY2025)p. 70 | $35.7 million (FY2025)p. 41 |
| Whose finances | Glenaire, Inc. (Glenaire column of the Presbyterian Homes combining statement); ratios for Glenaire, Inc. (community only)p. 70 | The Templeton of Cary (combined: Cary Senior Housing I OPCO, LLC, Cary Senior Housing I PROPCO, LLC and Brightmore Senior Living of Cary, LLC); ratios for The Templeton of Cary (co-providers, combined)p. 41 |
| Audit opinion | Not disclosed in the 2026 filing | Unmodified (clean) opinion, Cherry Bekaert LLPp. 41 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | No CMS record linked |
What care costs later, in each contract
Glenaire
Type B (modified): 14 grace days a year with no per diem (unused days do not carry over), then nursing care at 80% of the published daily rate. The apartment must be surrendered on request 90 days after the grace days run out.p. 189
The Templeton of Cary
Type B (modified): No care days are included. Each calendar year a resident gets 10% off Healthcare Center fees for the first 30 days of stay (unused days do not carry over); after that, care is at the published per diem, on top of the independent living monthly fee. Residents get priority access to open beds when the closed beds are full.p. 93