Fitch Ratings Affirms Lenbrook’s Investment Grade Rating

“Lenbrook (Lenbrook Square Foundation) is pleased to announce that Fitch Ratings has affirmed the 'BBB-' investment grade rating with a stable outlook on our approximately $85 million in retirement facility refunding revenue bonds, series 2016,” reported Leslie Dove, Lenbrook’s Vice President of Finance and CFO. “I am proud of the work we have done as a community to produce solid operational results and cash flow levels, and to retain our strong market position.“

As noted in the Fitch Ratings announcement: “Lenbrook's favorable reputation, desirable location and solid contract offerings have supported strong demand across all service lines. Over the past three fiscal years, Lenbrook has averaged a solid 95% occupancy in its independent living units (ILUs), 88% in its assisted living units (ALUs) and 87% in its skilled nursing facility (SNF) beds. Additionally, Lenbrook has pre-sold 70% of its new ILUs to date.”

“The recent positive Fitch Rating is an extremely important financial event for Lenbrook,” notes David Dimling, Chairman, Lenbrook Residents Association Finance Committee. “It substantiates the responsible manner with which the organization manages its financial matters during extremely difficult times and provides additional comfort and confidence to its residents.”

The complete Fitch Ratings release is located here: https://www.fitchratings.com/research/us-public-finance/fitch-affirms-lenbrook-square-foundation-ga-rev-bonds-at-bbb-outlook-stable-29-04-2021

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About Lenbrook (Lenbrook-Atlanta.org)

Lenbrook is the first and only Life Plan Community in Atlanta to achieve international accreditation by CARF (Commission on Accreditation of Rehabilitation Facilities). Founded in 1983, this not-for-profit senior living community in the heart of Buckhead enables its residents to enjoy the gifts of independence, good health and personal fulfillment through engaging programs and services. Its award-winning facilities also offer the security and convenience of excellent on-site, Medicare-certified healthcare services.

Kingsboro at Lenbrook is located on a four-acre parcel adjacent to Lenbrook’s established Buckhead campus. Kingsboro at Lenbrook will add 53 independent residences called Flats and Villas, scheduled to open in October 2021. The Flats are comprised of 39 residences in a five-story building with a variety of floor plans ranging from 1,700-3,200 square feet, while the Villas will consist of three buildings, each with four to five residences between 2,000 and 3,200 square feet. Visit www.lenbrook-atlanta.org or call 404-264-3386 for more information.