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Riderwood Marks a 31 Percent Increase in Apartment Home Settlements for 2011; Reservations Jump 28 Percent

January 6, 2012

Riderwood Retirement Community Marks a 31 Percent Increase in Apartment Settlements for 2011; Reservations Jump 28 Percent
Introduction of Lower Entrance Deposit Option Proves Helpful to People
SILVER SPRING, MD (January 6, 2012) -- Riderwood retirement community in Silver Spring marked a 31 percent increase in settlements of apartment homes for yearend 2011 and a 28 percent jump in reservations.
A total of 170 apartment homes was settled in 2011, compared to 129 the prior year. In addition, a total of 190 people made reservations for apartments homes, compared to 148 the prior year.
People moved to Riderwood from nearly all geographic areas of Montgomery and Prince George's counties, with some moving from as far away as California and Washington state.
Riderwood officials attribute the sales increases, in part,  to the introduction of a Lower Entrance Deposit option, which enabled people to move in for only 10 percent  of the original Entrance Deposit price if they pay a higher monthly fee.
Another factor in helping people move to Riderwood was the  in-house realty services program that connected prospective residents with movers, real estate agents and move-in officials to make the selling of a home, and the logistics management that go along with it,  as easy as possible.
Apartment homes at Riderwood range in size from 600 square-foot studios to 2 bed, 2-bath luxury apartments that are about 2,000 square feet. Entrance deposit prices range are from the low $100,000s  to the upper $500,000s.
Riderwood, which has nearly 3,000 residents, sits on 120 acres that stretch across Montgomery and Prince George's Counties. Riderwood offers extensive wellness and prevention programs, balance assessment and fall prevention programs, and Fitness and Aquatics Centers.
Also, there are more than 200 resident-inspired and resident-led clubs, committees and interest groups in these categories: art; cards; computers and technology; dance; faith-based and interfaith; fitness and sports; games; gardening; lifelong learning; music; literature, philanthropy. Riderwood is managed by Erickson Living.