Narthex One Newsletter – Q4 2021
Happy New Year!
A message from Rob Boyer, CEO
Q4 of 2021 was seasonally slow. We invested a lot of time and energy into two acquisitions; Metro Baptist and ImpactKC that did not come to fruition. Metro Baptist decided not to sell in the end and ImpactKC has decided to wait. Lionheart Academy is anxious to work with the ImpactKC location so we are hopeful we can get something done in 2022.
On the Narthex Management side, we have hired our first Pastor, Blake Fortner, in the role of “connector”. It is my hope that churches will feel more comfortable talking to a fellow pastor and we can ease this bottleneck in our acquisition process.
The pastor at Blue Ridge Trinity is experiencing personal challenges. As a result, they missed their December rent payment. We are talking with him daily, but are also taking the necessary legal steps to protect our investment. We are also reaching out to potential new tenants to occupy the space if we need to part ways. We would welcome your prayers for Pastor Travis and this situation as it unfolds.
We’ve been approached in the last few weeks by several Christian investors interested in using a 10-31 exchange to acquire church properties. This might prove an interesting new exit strategy for our properties after they have been renovated and stabilized. More to follow.
Please be on the lookout for Q4 distribution checks which will go out on January 17.
We are looking forward to a very prosperous 2022. There are so many interesting things in the works. I can’t wait to see where God leads us. Thank you for the trust you place in us and know that we are working tirelessly to fulfill God’s vision for Narthex. And, as always, I welcome your questions, ideas, and feedback. Please don’t hesitate to reach out.
Spiritual impact
Mission Southside continues to be a bright spot in our portfolio. The Catholic church plant, John Paul the II, has been averaging 1100 attendees at 3 services every weekend since they opened. I recently met the church secretary and she simply said, “Narthex is an answer to prayer. You all are the miracle we needed."
