This is not "replacement theology." Old Testament promises made to Israel and fulfilled in the New Testament were fulfilled to Israel. Only the believers from the seed of Abraham made up the church for quite a while. "But it is not that the word of God has taken no effect. For they are not all Israel who are of Israel . . ." (Rom. 9:6, NKJV) It was the believing remnant of Israel who received Jesus the anointed. Later, believing gentiles were made partakers of the same promises (Eph. 2-3).