Moorings Park Communities, the creator of the Life Plan communities of Moorings Park, Moorings Park at Grey Oaks, and the new Moorings Park Grande Lake, has announced that its A rating by Fitch has been affirmed. Moorings Park is a nationally accredited, nonprofit community and one of the only A or A+ Fitch and S&P rated Life Plan communities in the country.
“We are very pleased to once again achieve this distinction from Fitch,” said Moorings Park CEO Dan Lavender. “It is a reflection of our ongoing commitment to our residents to provide ‘Simply the Best’ amenities and lifestyle, as well as incredible concierge healthcare services for the past 40 years.”
Fitch’s credit rating expresses the agency’s opinion about the ability of Moorings Park to meet its financial obligations in full and on time. Fitch affirmed its ‘A’ rating on Moorings Park Communities due to Key Rating Drivers including:
Strong Demand for Services
Independent living (IL) occupancy has been above 95% over the four-year historical period, even as Moorings Park added over 100 new IL units. Over this same period, skilled nursing occupancy was steady as was assisted living. Moorings Park’s strong demand is further evidenced by the occupation of all units in the first phase of the Moorings Park Grande Lake, which opened in early 2020.
Strong Market Position
Fitch views Moorings Park’s 40-year operating history, location, strong capital spending and sizable attractive campuses as key marketing strengths which support its high occupancy and steady financial performance.
Other factors considered in the rating were continued capital investment and expansions as evidence by the construction of Moorings Park Grande Lake including its luxurious lakefront Clubhouse.
Standard & Poors A+ Rating Reaffirmed Last Fall
The affirmation of the ‘A’ rating by Fitch comes about 8 months after Standard & Poors (S&P) affirmed Moorings’ A+ rating last October.
“According to S&P, the A+ rating affirmation was driven in part by Moorings Park’s excellent financial profile, favorable locations with a strong economy and a management and governance team they viewed as capable and experienced” said Lavender.
In acknowledging Moorings Park’s strong performance, S&P also reported, “With stable leadership that has a track record of successfully executing large expansion projects, we believe that Moorings Park and its affiliated companies have, in our view, the best-in-class governance and management in the industry that will continue to demonstrate strong project management and financial acumen.”
Moorings Park Offers Spectacular Residences
Moorings Park, located off Goodlette-Frank Road just south of Pine Ridge Road, has a limited number of outstanding residences available on its 83-acre campus, some of which can be found in the community’s two conveniently located 8-story towers, located within steps of the recently renovated and expanded clubhouse at Moorings Park.
The Tower residences range in size from 882 to 2,700 square feet and are perfect for those who seek a maintenance-free lifestyle in a centrally located community.
Sports Membership Included At Moorings Park at Grey Oaks
Moorings Park at Grey Oaks offers an active lifestyle and award-winning continuum of care. Residents benefit from the affiliation with Grey Oaks through a Sports Membership, which is included with residency.
Through it, residents can enjoy use of both the Grey Oaks and Estuary clubhouses with three championship golf courses, two resort-style pools, a tennis center with eight Har-Tru lighted courts, and fitness centers featuring weight rooms and fitness classes.
Moorings Park Grande Lake Reports Unprecedented Sales
Moorings Park Grande Lake, the newest member of Moorings Park Communities, includes luxurious mid-rise residences and spacious penthouses. Entrance fees start at $1.5 million and are 70 percent refundable. Assisted Living, Memory Care and concierge physicians and personalized healthcare are included.
“While we have recently released Phase 2, there are so many advantages to grabbing one of the last few residences in Phase 1, including membership to Naples Grande Golf Club, located within walking distance of Moorings Park Grande Lake. Perhaps the most valuable part of the club membership right now is the access to the private beach club,” said Tom Mann, Vice President of Moorings Park Communities.
The membership includes golfing privileges on Naples Grande Golf Club’s 18-hole championship golf course, and dining options in its elegant Clubhouse. Additionally, residents have access to Naples Grande Beach Resort and its Har-Tru tennis courts, fitness center and spa, resort-style pool and beach, and preferred pricing on hotel rooms and dining. This unique membership is available to Phase 1 residents until the community’s own spectacular Clubhouse opens in late 2021.
The Clubhouse itself, which is the setting for a variety of casual and fine dining venues, includes a poolside Bistro, as well as a lakefront resort-style pool and cabanas. A state-of-the-art fitness center with gorgeous water views is the perfect place to start an active day, while a best-in-its-class golf simulator, a theatre and a salon and spa are all planned as well.
A few of the future outdoor activities or amenities include a yoga pavilion, walking paths, lakeside parklettes with boardwalks, gardens, fire pits and overlooks, several bird-watching posts and bocce and pickleball courts.
Also located in the Clubhouse will be The Center for Healthy Living. The center is home to rehabilitation services, as well as the Care 360 concierge healthcare program, which was developed in partnership with NCH Healthcare System. Offering a higher level of personalized primary care, Care 360 services are available to residents of Moorings Park Grande Lake with no additional fees, other than typical co-pays.
To receive a complimentary information kit on any of Moorings Park Communities’ three campuses, visit MooringsPark.org or call 239-919-1620.