Pastor Michael Todd of Transformation Church in Tulsa, Oklahoma, has purchased an entire shopping center, known as PostRock Plaza, that houses his burgeoning church. The purchase price was a little more than $20 million.
The purchases comes fewer than 2 years after Todd purchased a large event center that was just part of the full plaza. The mortgage on that $10 million purchase was paid off in less than half a year.
By buying the entire retail center, Todd says that his church can form good relationships with the 34 businesses that are tenants in the facility.
"There's over 34 businesses that function out of this area, and we get the opportunity to have great relationships with them and see the future grow in this community," Todd said. "We wanted this to be an investment for the long term of our church, that we could be able to get revenue to bless our community."
Many of the business tenants expressed excitement over the new landlords, with some praising Transformation Church for their "goodwill" and planned philanthropy. The church plans to use the profits it makes from the real estate investment for charitable causes.
Transformation Church is one of the largest congregations in Tulsa.