TempleLive acquires another historic Masonic Temple in Ohio
by January 16, 2024 11:59 am 1,079 views
Rogers-based Beaty Capital Group, the company behind renovation of the Masonic Temple in downtown Fort Smith, has acquired a Masonic Temple in Columbus, Ohio. Terms of the all stock deal that closed Dec. 1 were not disclosed.
The facility is the fourth historic temple acquired by TempleLive.
The Athenaeum Theatre in Columbus operates in a building constructed in 1899 and expanded in 1912-1913, according to a statement from TempleLive – the company that manages Beaty’s music and entertainment venues. The building renovated and was added to the National Register of Historic Places in 1997.
“We are thrilled to add the Athenaeum to our operational footprint,” TempleLive President Rob Thomas said in the statement. “Columbus is an exciting market with a vibrant music scene. We look forward to bringing amazing concerts and events to this well-known and historic venue.”
Other former temples operated by TempleLive are in Cleveland, Wichita, Kan., and the location in downtown Fort Smith. The company invested more than $8 million in renovations to its Cleveland facility in 2023. The company said in August 2023 that it employed around 120 at the three temple operations.
According to TempleLive, the Athenaeum has been used since the 1990s primarily as an event and wedding venue in Columbus. TempleLive will continue to operate the venue for private events, and has a goal of having 100 performances a year. TempleLive also noted in the announcement that the Columbus theatre will improve the ability to recruit national acts as they travel through the midwest.
“As we continue to expand venue operations in the central U.S., having anchor venues in both the Cleveland and Columbus markets improves our routing for artists,” said Thomas. “And because of the way these historic Masonic temples were constructed, there are multiple theaters and performance rooms of various sizes within each venue, providing artist reps and agents with the flexibility to book smaller acts as well as their more established clients. This model has worked well for us in our other markets.”
Beaty Capital Group (BCG) primarily focuses on real estate and investments in smaller markets in the central United States. The firm specializes in the development and repositioning of unique and historical assets to create value and capital appreciation for its stakeholders.
The company acquired the historic 53,000-square-foot Masonic Temple in downtown Fort Smith in November 2014 in a $2.5 million deal. The three-story building at 200 N. 11th St. was built in 1928 and has numerous meeting rooms and a theatre capable of seating 900. It reopened as TempleLive in August 2017 after approximately $5 million in renovations.