Narthex One Newsletter – Q4 2025
Fourth Quarter Wins & What’s Next
A message from Rob Boyer, CEO
As we wrap up the year, we're excited to share some strong results and promising momentum heading into 2026.
First, we're pleased to announce the successful sale of our Mission Southside property, delivering an outstanding 18.30% I RR and a 1.80x return on invested capital. This is a major win - and a testament to the power of reimagining church real estate.
There's more good news from Mission Southside: Johnson County has agreed to settle our property tax appeal, lowering the valuation from $1.1 million to $850,000 for the past two years. This results in a $20,000 refund - a welcomed year-end surprise.
Our Grace Paseo property is now under contract, with a target closing date of February 4. Upon completion, we plan to make a special distribution of capital to get returns back into investor hands promptly.
Of course, not everything went according to plan. A boiler failure at Grace Paseo and an HVAC replacement at Cornerstone added unexpected costs - but we responded quickly, preserving long-term value.
The Narthex Impact Fund continues to perform well, with all properties operating in line with expectations.
We remain deeply grateful for your trust, your investment, and your partnership in this mission. Together, we're proving that the church's future can be both faithful and financially sustainable.
Thank you for being on the journey with us.
Onward,
Rob.
Spiritual impact
At Providence Arts School, Marcus Oatis sees more than students - he sees a neighborhood transformed.
"We see education as a Kingdom issue," Marcus says. "It's about building strong communities with Gospel intentionality."
Providence Arts draws students from nine different districts, uniting families across racial, cultural, and economic lines. Some arrived with assumptions about the neighborhood, but inside those assumptions gave way to empathy and connection.
By partnering with Providence Arts at our Grace Paseo location, Narthex helped transform empty halls into a vibrant hub of learning - not just filling classrooms, but filling the neighborhood with hope.
"We're now a shared space," Marcus says, "working with other community organizations in a building that would otherwise be wasted."
