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The Virginian and The Woodlands compared
Two Virginia communities about 4 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 Virginian | The Woodlands |
|---|---|---|
| Location | Fairfax, VA | Fairfax, VA |
| Filing used | 2024 statement, fiscal 2023 financesPDF | 2023 statement, fiscal 2021 financesPDF |
| Contract types | Rental | Type B (modified) |
| Entrance fee, one person | None: rental | $346,000 to $765,000p. 123 |
| Monthly fee, independent living | $5,730 to $9,660p. 23 | $5,031 to $7,190p. 124 |
| Refund plans | None: rental contract | 90% Refundable; 70% Refundablep. 23p. 77 |
| Highest guaranteed refund | None: rental contract | 90% of the feep. 23p. 77 |
| When a refund is paid | None: rental contract | When your unit is re-occupied and the new resident has paidp. 23p. 77 |
| Days cash on hand | 20 days (FY2023, calculated)p. 35Figures for Focus SH I Holdings II LLC (consolidated). | 15 days (FY2021, calculated)p. 135Computed by us: $195,401 of unrestricted cash (cash $359,528 less $164,127 restricted for deposits) over FY2021 cash operating expenses. Counting the escrowed deposits it would be about 27 days. The community holds no investments or reserve fund. |
| Its lenders' minimum | Not disclosed in the 2024 filing | Not disclosed in the 2023 filing |
| Debt service coverage | Not disclosed in the 2024 filingFigures for Focus SH I Holdings II LLC (consolidated). | Not disclosed in the 2023 filingComputed by us: $195,401 of unrestricted cash (cash $359,528 less $164,127 restricted for deposits) over FY2021 cash operating expenses. Counting the escrowed deposits it would be about 27 days. The community holds no investments or reserve fund. |
| Independent living occupancy | 58.6% (2023)p. 130 | 83% (2021)p. 149 |
| Net position | $53.8 million (FY2023)p. 35 | $6.2 million (FY2021)p. 132 |
| Whose finances | Focus SH I Holdings II LLC (consolidated: The Virginian and Fountain View Village, AZ); ratios for Focus SH I Holdings II LLC (consolidated)p. 35 | The Woodlands Retirement Community, LLCp. 132 |
| Audit opinion | Unmodified (clean) opinion, CJBS, LLCp. 35 | Unmodified (clean) opinion, Foote and Lloyd, Certified Public Accountantsp. 132 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
The Virginian
Rental: No care is prepaid: the monthly plan 'does not entitle the individual to health care services' (p11). Residents get priority for Health Care Center beds, and a reserve of vacant rooms is kept for residents; outside patients are admitted in limited numbers (p12).p. 12
The Woodlands
Type B (modified): Independent living only. Both the entrance-fee and rental agreements include a total of 5 days of respite care at The Gardens assisted living for the life of the agreement, plus priority admission there; any other assisted living is paid by the resident, and no nursing care is provided.p. 18