Narthex One Newsletter – Q3 2025
Quarterly update: progress & purpose
A message from Rob Boyer, CEO
We've got strong momentum to report this quarter.
Our St. James Church sale closed last Friday, delivering a tidy 14.16% IRR and an 86% return on equity. A great result for Narthex and for Restore Community Church, the new owner!
At Grace Paseo, we've received an offer and are working toward a purchase price -and as of last Friday, are also now expecting a second offer from a new interested church buyer.
At Mission Southside, we may have solved our property tax problem with a potential sale to our Catholic tenant. When finalized, it will relieve a significant property tax burden for Narthex and provide long-term stability for the congregation as they raise funds for a new campus.
The Narthex Impact Fund is set to close on the Nebraska Ave. Church in Kansas City, KS, on October 31. The property is tenant-occupied and will generate positive cash flow from day one.
In national news, Narthex is expanding its mission with two new offerings available to churches across the country:
Lease-to-Own Program: Narthex purchases the property and leases it to the church, until they are ready to purchase it -often with financing support from Narthex.
Loan Guarantee Program: We've supported churches for years by backstopping qualified loans. Clearly there's a need - and now we're expanding into new markets to help even more churches access capital.
We believe God is working through Narthex to empower churches with ownership and financial stability. Thank you for being part of that mission.
- Rob
Spiritual impact
We first met Pastor Evan Graham from Restore Community Church when their Waldo campus was struggling to find a home. They'd been meeting in a school gym, setting up and tearing down every Sunday until COVID shut them out for good.
They found a church building that felt like home, but it was out of reach financially.
So Narthex bought the building and invited them in. We adjusted the rent to fit their budget and brought in a second congregation - a Spanish-speaking church plant - to help share costs and maximize the Kingdom use of the space.
Today, both churches are flourishing side by side. Pastor Evan said, "You don't feel like landlords. You feel like our biggest cheerleaders." That's exactly who we want to be.
And as of last week - Restore Community Church is now the owner of that building. From no home ... to a permanent one of their own. A great result!
