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Searstone Retirement Community and The Templeton of Cary compared
Two North Carolina 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 | Searstone Retirement Community | The Templeton of Cary |
|---|---|---|
| Location | Cary, NC | Cary, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type A (life care) | Type B (modified) |
| Entrance fee, one person | $509,000 to $1,224,000p. 22 | Not disclosed in the 2026 filing |
| Monthly fee, independent living | $4,240 to $9,500p. 20 | $6,098 to $9,413p. 68 |
| Refund plans | 100% Refundable Contractp. 24 | Not disclosed in the 2026 filing |
| Highest guaranteed refund | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 24 | Not disclosed in the 2026 filing |
| Days cash on hand | 553 days (FY2025)p. 35The provider says the FY2025 coverage of 2.45x is high because only Phase I debt service is included in the calculation; it projects 1.48x for 2026 (p36). Days cash: unrestricted cash ($2.6M) and short-term investments ($36.3M) = $38.9M (p45, p31); against FY2025 total expenses less depreciation and amortisation ($30.1M, p46) that is about 473 days, below the reported 553, which the document does not show the working for. | 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 | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 2.45x (FY2025)p. 35The provider says the FY2025 coverage of 2.45x is high because only Phase I debt service is included in the calculation; it projects 1.48x for 2026 (p36). Days cash: unrestricted cash ($2.6M) and short-term investments ($36.3M) = $38.9M (p45, p31); against FY2025 total expenses less depreciation and amortisation ($30.1M, p46) that is about 473 days, below the reported 553, which the document does not show the working for. | 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 | 97.6% (2025)p. 18 | 93.7% (2025)p. 16 |
| Net position | −$103.3 million (FY2025)p. 45 | $35.7 million (FY2025)p. 41 |
| Whose finances | Samaritan Housing Foundation, Inc.; ratios for Samaritan Housing Foundation, Inc. (provider only)p. 45 | 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 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 45 | Unmodified (clean) opinion, Cherry Bekaert LLPp. 41 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
Searstone Retirement Community
Type A (life care): Assisted living, memory care and skilled nursing in Brittany Place cost the same monthly fee as the resident's last independent living unit, plus an $800 a month dining fee per person and ancillaries such as drugs and therapy. For comparison, legacy fee-for-service contracts (no longer offered) pay $280 a day assisted, $292 memory care and $530 skilled nursing. If Brittany Place is full, the contract provides temporary home care or an offsite nursing bed at the provider's expense.p. 21
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