Crosspointe Church, located in Anaheim, California, is “a place where you can be yourself! A place where you can ask tough questions and get honest answers. A place where you will meet new friends and build authentic relationships, all while growing spiritually and relationally. And lastly, a place you can make a difference in your community and world by serving others.”
Brian Moore, Senior Pastor of Crosspointe Church, recently hired Ministry Solutions to help walk their church through the purchase of an existing broadcast campus, restructuring of existing debt, and the evaluation an additional church merger opportunity. When Brian became pastor in 2006 the church had 70 members and today Crosspointe has over 1,200 visitors each weekend! This tremendous growth contributed to their need for a larger space.
In 2016, Crosspointe entered into a Lease Purchase Agreement on a ~45,000SF building in Anaheim, CA. In 2021, they wanted to exercise the option to purchase, but the seller refused to sell. Over that year, Ministry Solutions worked with Crosspointe to help them acquire the property, which resulted in Crosspointe paying $10M for a single tenant retail building that appraised at $13M.
Not only did Crosspointe acquire an asset at seventy five cents on the dollar, but they also saved a substantial amount of money between the refinance of the existing debt and the conversion of the lease into long term, low interest debt. Compared to the lease payment, their interest expense on the debt will now create several hundred thousands of dollars per year in savings and the principal payments contribute to the building equity.
While all of this was happening, another church merger opportunity was presented for the church to grow in an area where there was an existing base. There is currently a plan and structure for Crosspointe to move forward in acquiring another property at cents on the dollar, while also ministering to a new community, and with a campus that is self-sufficient financially day one.
As Crosspointe Church was navigating their new building projects, COVID happened, which caused banks to be more timid with lending to large church projects. Brian Moore shared that as he was praying and processing through the situation with a trusted friend and client of Ministry Solutions, he was introduced to the Ministry Solutions team and encouraged to reach out for support.
Prior to partnering with Ministry Solutions, Brian had tried for two years to work with the banks on his own in order to secure a loan without success.
Ministry Solutions took over all the financial negotiations with the banks so that Brian could be freed up to return to his role as a full-time pastor and fulfill what God was calling him to in that season.
Not only did Crosspointe Church have a bank loan option, but they had multiple banks who were competing to finance the project, which put Brian and the Board truly in a position of authority to negotiate the best terms, rates, and services for their unique project.
Brian and his team are excited to celebrate all that God has done through their journey of finding and financing a new building while honoring the church congregation for their generosity and dedication to prayer through this difficult, yet rewarding season. For Crosspointe, the best is yet to come!