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The Fairfax and Westminster at Lake Ridge compared
Two Virginia communities about 6 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | The Fairfax | Westminster at Lake Ridge |
|---|---|---|
| Location | Fort Belvoir, VA | Lake Ridge, VA |
| Filing used | 2025 statement, fiscal 2024 financesPDF | 2025 statement, fiscal 2024 financesPDF |
| Contract types | Type B (modified) | Type B (modified) |
| Entrance fee, one person | $135,598 to $1,027,327p. 118p. 119 | Not disclosed in the 2025 filing |
| Monthly fee, independent living | $4,157 to $7,640p. 118p. 119 | $2,281 to $8,142p. 114 |
| Refund plans | 90% Refundable; 50% Refundable; 0% Refundablep. 15 | 90% Refundable; 50% Refundable; 0% Refundablep. 22 |
| Highest guaranteed refund | 90% of the feep. 15 | 90% of the feep. 22 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 15 | When your unit is re-occupied and the new resident has paidp. 22 |
| Days cash on hand | Not disclosed in the 2025 filingNo days cash on hand or debt service coverage is reported. The Fairfax has no debt, and its balance sheet holds no unrestricted cash or investments: its liquidity sits in $31,277,284 due from a Healthpeak affiliate and a $32,361,790 note receivable from the Healthpeak landlord affiliate (p134, p137). | 205 days (FY2024)p. 121 |
| Its lenders' minimum | Not disclosed in the 2025 filing | At least 150 daysp. 121 |
| Debt service coverage | Not disclosed in the 2025 filingNo days cash on hand or debt service coverage is reported. The Fairfax has no debt, and its balance sheet holds no unrestricted cash or investments: its liquidity sits in $31,277,284 due from a Healthpeak affiliate and a $32,361,790 note receivable from the Healthpeak landlord affiliate (p134, p137). | 1.88x (FY2024)p. 121 |
| Independent living occupancy | 76.1% (2024)p. 374 | 97% (2024)p. 29 |
| Net position | $23.3 million (FY2024)p. 137 | −$34.1 million (FY2024)p. 126 |
| Whose finances | SH OpCo The Fairfax, LLCp. 137 | Westminster Presbyterian Retirement Community, Incorporatedp. 126 |
| Audit opinion | Unmodified (clean) opinion, Baker Tilly US, LLPp. 137 | Unmodified (clean) opinion, Baker Tilly US, LLPp. 126 |
| Nursing care, CMS rating | 3 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
The Fairfax
Type B (modified): Stays in the Health Center of less than 30 days in any 90-day period cost only the resident's monthly fee plus two extra meals a day. Longer stays are billed at one fixed contract daily rate for every resident, the 'F Unit Equivalent' in the published Care Fees ($188/day for a standard assisted living room or semi-private nursing bed and $335/day for a private nursing room in 2025, against per diem rates of $219, $526 and $601), plus two meals a day and ancillaries; residents who give up their apartment stop paying its monthly fee.p. 53
Westminster at Lake Ridge
Type B (modified): 5 days per temporary stay are included in the monthly fee, at most 15 a year: the contract covers the first five days of temporary Health Center care that begins more than 30 days after the resident's last Health Center day, with a limit of 15 such days in any twelve-month period. After that, residents pay the full per diem rate on top of the monthly fee until they give up their independent living residence. Independent living residents have priority access to the Health Center.p. 85