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Peconic Landing Brings 20 Years of Financial Stability

Front entrance building w/big white pillars & a covered drive at Peconic Landing

When it comes to retirement communities, people often talk about the peace of mind that comes from having support readily available as they age. But, there is another type of peace of mind that should come with home ownership in a retirement community – financial security and stability.

For 20 years, Peconic Landing has provided for and supported members living on the North Fork of Long Island. Through a strong Fitch investment grade rating, Peconic Landing has a proven track record of being financially stable and best in class in New York.

Exclusive Equity-Based Model

The first and only equity-based CCRC model in New York State. Peconic Landing offers a cooperative agreement giving members the advantages of home ownership in an exclusive, high-value community without the financial burden of upkeep and home maintenance. The option of a lifecare contract with home ownership provides a safety net protecting members from the rising cost of long-term care as well as providing asset protection.

Peconic Landing’s unique equity component offers the possibility for members to retain the tax benefits of homeownership and earn appreciation, while securing a legacy for loved ones.

As New York State’s only equity-based model, Peconic Landing is the most heavily regulated CCRC statewide. This oversight helps contribute to the community’s strong fiscal standing and premier quality of care.

Proven Fiscal Responsibility

Peconic Landing is proud to be one of six CCRCs in New York State to have earned a distinction from the Fitch Rating Agency. Fitch is a nationally recognized statistical rating organization that publishes credit ratings using forward-looking analyses on the relative ability of an entity to meet financial commitments.

Holding a Fitch rating helps the organization with financial investments geared towards strategic growth for the future. A proven asset, the rating helped Peconic Landing to receive a favorable interest rate on bonds issued for the community’s most recent expansion in 2016.

Based on Peconic Landing’s continued high level of occupancy and strong financial performance, Peconic Landing maintains a stable BBB- investment grade rating. In a recent report, Fitch reaffirmed Peconic Landing’s rating and found Peconic Landing to be stable and moving forward in a positive direction.

Fitch’s findings included the community’s favorable location, strong census, large and attractive campus on the North Fork of eastern Long Island, and solid local area demographics. The credit agency also noted Peconic Landing’s steady underlying operations and strong revenue defensibility, predicting through scenario analysis that the community’s key leverage and coverage metrics will remain consistent.

Fitch’s baseline scenario, which is a reasonable forward look of financial performance over the next five years given current economic expectations, shows Peconic Landing maintaining financial metrics consistent with the current rating and with historical levels of performance.

Organizations like Peconic Landing are better prepared because they have applied standards that address:

  • Quality of care and service
  • Clearly defined organization leadership roles and responsibilities
  • Strategic planning
  • Financial planning & management, including long-range planning
  • Outcome measurement
  • Effective management practices
  • Formalized risk management programs

“Each department at Peconic Landing strives professionally to be the best they can be. Our members and team members appreciate the financial security that comes from these accreditations & certifications.”

Robert J. Syron, President and CEO of Peconic Landing
To learn more about Peconic Landing or to schedule a tour, call 631-663-8779 or complete the form below.

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