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River Landing at Sandy Ridge and Providence Place compared
Two North Carolina communities about 8 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | River Landing at Sandy Ridge | Providence Place |
|---|---|---|
| Location | Colfax, NC | High Point, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Rental |
| Entrance fee, one person | $15,000 to $638,000p. 26p. 25 | None: rental |
| Monthly fee, independent living | $3,979 to $6,030p. 23p. 24 | $1,024 to $3,019p. 25p. 26 |
| Refund plans | Standard; 50% Refundable; 90% Refundable; Range across refund plans (plan not specified)p. 27p. 25 | None: rental contract |
| Highest guaranteed refund | 90% of the feep. 27p. 25 | None: rental contract |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 27p. 25 | None: rental contract |
| Days cash on hand | 738 days (FY2025)p. 2Figures for Brightspire obligated group (The Presbyterian Homes, Inc.: Glenaire, River Landing at Sandy Ridge, Scotia Village). Obligated-group figures, not River Landing alone: FS-1 (p2) and Tables 35.1A-35.3A report the Brightspire obligated group (Glenaire, River Landing at Sandy Ridge, Scotia Village). River Landing alone reported 1,000 days cash on hand, 2.29x debt service coverage and an 18.04% net operating margin (Tables 35.1-35.3, p39-41). FY2025 is a fifteen-month period (Oct 2024-Dec 2025) after a fiscal-year-end change (p7). The $191.7M of unrestricted cash and investments behind the group's 738 days includes the $27.06M statutory operating reserve (Table 29.2, p36); without it roughly 634 days. | 101 days (FY2025)p. 2Figures for Providence Place, LLC (provider only). Margin caution: the 14.10% net operating margin is the NC statutory ratio (resident operating income / resident revenue, FS-1 p2, Appendix F p188); the audited combining statement of operations shows a GAAP operating loss of $667,794 on $23,305,183 of operating revenue for Providence Place (p88), about -2.9%. First year under EveryAge ownership; no prior-year ratios. The bond obligated group Providence Place belongs to (EveryAge, Abernethy Laurels, Piedmont Crossing, Lake Prince Woods, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p40, p43). |
| Its lenders' minimum | At least 120 daysp. 19 | Not disclosed in the 2026 filing |
| Debt service coverage | 2.08x (FY2025)p. 2Figures for Brightspire obligated group (The Presbyterian Homes, Inc.: Glenaire, River Landing at Sandy Ridge, Scotia Village). Obligated-group figures, not River Landing alone: FS-1 (p2) and Tables 35.1A-35.3A report the Brightspire obligated group (Glenaire, River Landing at Sandy Ridge, Scotia Village). River Landing alone reported 1,000 days cash on hand, 2.29x debt service coverage and an 18.04% net operating margin (Tables 35.1-35.3, p39-41). FY2025 is a fifteen-month period (Oct 2024-Dec 2025) after a fiscal-year-end change (p7). The $191.7M of unrestricted cash and investments behind the group's 738 days includes the $27.06M statutory operating reserve (Table 29.2, p36); without it roughly 634 days. | 1.28x (FY2025)p. 2Figures for Providence Place, LLC (provider only). Margin caution: the 14.10% net operating margin is the NC statutory ratio (resident operating income / resident revenue, FS-1 p2, Appendix F p188); the audited combining statement of operations shows a GAAP operating loss of $667,794 on $23,305,183 of operating revenue for Providence Place (p88), about -2.9%. First year under EveryAge ownership; no prior-year ratios. The bond obligated group Providence Place belongs to (EveryAge, Abernethy Laurels, Piedmont Crossing, Lake Prince Woods, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p40, p43). |
| Independent living occupancy | 98.59% (2025)p. 21 | 96.25% (2025)p. 22 |
| Net position | $266.5 million (FY2025)p. 50 | −$441,825 (FY2025)p. 86 |
| Whose finances | The Presbyterian Homes, Inc. dba Brightspire and combined affiliates (Glenaire, River Landing, Scotia Village, Foundation); ratios for Brightspire obligated group (The Presbyterian Homes, Inc.: Glenaire, River Landing at Sandy Ridge, Scotia Village)p. 50 | Providence Place, LLC (column of the EveryAge and Affiliates combining schedule); ratios for Providence Place, LLC (provider only)p. 86 |
| Audit opinion | Unmodified (clean) opinion, Bernard Robinson & Company, L.L.P.p. 50 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 86 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 3 of 5 (CMS overall) |
What care costs later, in each contract
River Landing at Sandy Ridge
Type B (modified): 14 grace days a year in the Health Center with no per diem charge (unused days don't carry over), then residents pay 80% of the published per diem rate. A resident may keep the apartment for up to 90 days after the grace days while paying both charges.p. 127
Providence Place
Rental: No care days or discounts are included: residents moving to assisted living, memory care or nursing pay the direct admission rates. Admission depends on bed availability; if no bed is free the community will help find placement elsewhere and gives priority application access at other EveryAge nursing facilities.p. 45