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Oak Creek Apartments and Twin Lakes Community compared
Two communities in Burlington, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Oak Creek Apartments | Twin Lakes Community |
|---|---|---|
| Location | Burlington, NC | Burlington, NC |
| Filing used | 2025 statement, fiscal 2024 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type C (fee for service), Rental | Type B (modified) |
| Entrance fee, one person | $25,000 to $30,000p. 18 | $67,000 to $599,000p. 23 |
| Monthly fee, independent living | $1,300 to $2,070p. 18 | $2,033 to $3,860p. 23 |
| Refund plans | Retention Schedule (0% after 4 years)p. 194 | Standard Refund; 50% Refundp. 95p. 19 |
| Highest guaranteed refund | 0% of the feep. 194 | 50% of the feep. 95p. 19 |
| When a refund is paid | Within a fixed number of daysp. 194 | When your unit is re-occupied and the new resident has paidp. 95p. 19 |
| Days cash on hand | Not disclosed in the 2025 filingFigures for White Oak Manor - Burlington/Oak Creek Apartments (NHC HealthCare/Burlington, LLC), unaudited internal balance sheet. No ratios are reported. The facility balance sheet shows cash of -$940,867 and -$18.2M of intercompany balances, so a days-cash figure cannot be computed meaningfully. The only audited statements are those of the parent, National HealthCare Corporation (Ernst & Young, Form 10-K FY2024, p71-76). | 410.29 days (FY2025, interim)p. 2Margin caution: the 13.29% net operating margin is the NC statutory ratio from the Key Financial Metrics table (p2), which does not mark its years as audited; the audited statement of operations shows a GAAP operating loss of $4,039,041 on $46,100,888 of operating revenue for FY2025 (p36), about -8.8%, after $10.9M of depreciation and $4.0M of interest. |
| Its lenders' minimum | Not disclosed in the 2025 filing | Not disclosed in the 2026 filing |
| Debt service coverage | Not disclosed in the 2025 filingFigures for White Oak Manor - Burlington/Oak Creek Apartments (NHC HealthCare/Burlington, LLC), unaudited internal balance sheet. No ratios are reported. The facility balance sheet shows cash of -$940,867 and -$18.2M of intercompany balances, so a days-cash figure cannot be computed meaningfully. The only audited statements are those of the parent, National HealthCare Corporation (Ernst & Young, Form 10-K FY2024, p71-76). | 2.91x (FY2025, interim)p. 2Margin caution: the 13.29% net operating margin is the NC statutory ratio from the Key Financial Metrics table (p2), which does not mark its years as audited; the audited statement of operations shows a GAAP operating loss of $4,039,041 on $46,100,888 of operating revenue for FY2025 (p36), about -8.8%, after $10.9M of depreciation and $4.0M of interest. |
| Independent living occupancy | 98.1% (2024)p. 4 | 96.6% (2025)p. 16 |
| Net position | $551,265 (FY2024)p. 166 | $69.9 million (FY2025)p. 35 |
| Whose finances | White Oak Manor - Burlington/Oak Creek Apartments (NHC HealthCare/Burlington, LLC), unaudited internal balance sheetp. 166 | Lutheran Retirement Ministries of Alamance County, North Carolinap. 35 |
| Audit opinion | Not disclosed in the 2025 filing | Unmodified (clean) opinion, Gilliam Bell Moser LLPp. 35 |
| Nursing care, CMS rating | 2 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
Oak Creek Apartments
Type C (fee for service): Residents get priority for a bed in the adjoining 160-bed nursing center but no included days or stated discount, so nursing care is paid at the center's charges or through Medicare/Medicaid. A resident moved to the nursing center has 30 days to return before the apartment agreement can end.p. 16
Rental: Same terms as the Retention Deposit plan: priority access to the adjoining nursing center, with no included days or stated discount.p. 221
Twin Lakes Community
Type B (modified): Care is paid at Twin Lakes' daily and monthly rates, but residents pay $402 a day for a private skilled nursing room against a $432 market rate for non-community members (about 7% less), and get up to three grace days a year of temporary care without an extra occupancy charge (not cumulative, ending on a long-term move to health care). Residents have priority over outside admissions; during a temporary stay they also keep paying their independent living fee.p. 23