Fitch Affirms John Knox Village at ‘BBB’ Rating
Fitch Ratings – Chicago – 26 Aug 2026: Fitch Ratings has affirmed the rating on revenue bonds issued by the City of Pompano Beach, Florida on behalf of John Knox Village (JKV) at ‘BBB’. Fitch has also affirmed JKV’s Issuer Default Rating (IDR) at ‘BBB’.
The Rating Outlook is Stable.
The ‘BBB’ affirmation ratings reflect JKV’s strong market position as a single-campus, life plan community (LPC) in Pompano Beach and its midrange operating risk, supported by strong entrance fee generation in 2025. In 2024, JKV completed and filled the Westlake expansion. Since the project is complete, Fitch’s forward-looking scenario shows JKV’s liquidity metrics gradually improving.
SECURITY
The bonds are secured by a gross revenue pledge and a security interest in certain mortgaged property of the obligated group, which is the vast majority of the consolidated entity’s assets and revenues.
KEY RATING DRIVERS
Revenue Defensibility – ‘a’
Single-Campus LPC with Strong Demand
JKV benefits from being the only Type ‘A’, LPC in its primary market area (PMA) of Pompano Beach. A majority of JKV’s residents originate from the PMA. In 2025, 31% of entering residents came from outside the PMA, underscoring JKV’s strong service offerings and demand characteristics, and south Florida’s draw for retirees. Fitch believes JKV’s investments in its physical plant have kept it very competitive.
Over the last five years, ILU occupancy has averaged 90%. ILU occupancy softened to 86% in fiscal 2024 due to existing residents moving into new Westlake units. Fitch expects ILU occupancy to rebound as JKV backfills those units.
Over that time period, assisted living (ALU) and skilled nursing (SNF) faced pandemic-related pressure. SNF recovered more quickly as management focused on improving hospital referrals for short-term rehab stays. ALU was slower to rebound but saw sizable improvement in 2025, partially due to the renovation of the Garden’s West ALUs. As of June 30, 2026, ILU occupancy was 89%, ALU was 86% and SNF was 97%.
JKV’s weighted average entrance fees are $374,000, which is affordable relative to the average net worth of residents. With 775 ILUs, JKV caters to a wide price range. JKV has regular rate increases and maintains a solid waitlist.
John Knox Village (JKV)
For almost 60 years, JKV has set the bar when it comes to delivering an all-inclusive resort lifestyle designed for living life to the fullest at each stage of retirement. JKV emphasizes fitness and overall well-being with world-class programming, state-of-the-art amenities, healthy and delicious dining, and much more. Residents are entitled to unlimited use of healthcare services and 24/7 healthcare professionals on campus. There are no time or financial limits on the long-term care benefits that residents receive, regardless of the level of care required. Simply put, a life plan agreement at JKV provides a fiscal safety net with an unparalleled community geared to a wide range of needs, whatever the road ahead brings.
Want to learn more about what John Knox Village has to offer? Contact us today to take a tour or for a no-pressure conversation with one of our Life Plan Consultants.
