It’s been a six-year journey toward a significant reduction of assets for Lifeway Christian Resources, and the latest announcement brings the self-supporting nonprofit business in line with where they want to be financially and with stewardship of assets.
Lifeway’s current building sold for $95 million, according to a May 14 news release. The building, located in downtown Nashville, was built in 2017 after the 14.5-acre campus about a mile away was sold in 2015 for $125 million.
In between the two headquarter moves, Lifeway closed its brick-and-mortar stores across the country, sold its remaining conference center at Ridgecrest and released other ministry assignments.
“We are so grateful God continues to show us favor with strong financial results,” Lifeway CEO Ben Mandrell said. “We are committed to investing in the future with good stewardship for His kingdom work.”
As the workforce shifts to a new location — not yet determined — Mandrell noted Lifeway leadership is moving away from a headquarters concept.
“Our new space will be designed to reflect Lifeway’s culture of community, connectivity and relationship-building, as we chart what’s next for the ministry of Lifeway,” he said.
Employees will work remotely most of the time but will come to the building for strategic meetings, creative brainstorming sessions and team building, according to the news release.
The new owners of the nine-story building are two investment firms: Rubicon Equities, based in Nashville, and Meritage Group LP, based in San Francisco. Lifeway will continue to occupy a portion of the building until it determines a location for its new space.