Narthex One Newsletter – Q1 2024
Happy Easter and full investment
A message from Rob Boyer, CEO
It’s one of those rare quarters where all the news is good news. Buildings and tenants are all performing as expected. Our renovations at Lady of Lourdes Church are now complete, and the tenant, City of Truth, has taken occupancy. This milestone marks all funds now fully invested, and we couldn’t be happier with the portfolio we’ve assembled!
Congratulations are also in order for Darren from the Narthex team, who is now a licensed real estate broker. With brokerage services in-house, we can save on commissions in the future when we sell our properties.
Overall, we continue to see robust activity in the church space. Our pipeline of potential tenants is at an all-time high as church planters, daycares, and schools continue to drive demand. There are also more churches looking to buy church property than in previous years. All this points to opportunity for Narthex as both buyer and seller.
Through COVID lockdowns and now this higher interest rate environment, we continue to marvel at the resiliency and resurgence of the church real estate market. God is on the move, and as ever, we believe that Narthex is on the forefront of an important transformation in how churches think about real estate — at least that is our prayer.
Once again, I would be remiss if I didn’t say thank you to all of our investors who took a shot on this new idea. We strive daily to honor your investment and to make a difference for the Kingdom!
Spiritual impact
This quarter, we celebrate Iglesia Jesucristo Restaura, our newest tenant at St. James Church. Pastor Fred Dubon is happy to have a new home for worship and recently shared the following: “This new building is a blessing, enabling us to focus on our mission, which is to preach about Jesus Christ. By partnering with Narthex, we have freed up resources to invest in our ministry and our community. We look forward to our continued collaboration with Narthex on this transformative journey!” We at Narthex are excited to have them worshipping with us and wish them great success!
