How should I deal with a longtime friend who has come out to me and wants to be with me?

I've been best friends with this kid since the second grade and he has recently come out to me. Not only that, but he said that he is in love with me and wants to be with me. I am a devout Catholic and STRICTLY heteroual. I have been raised to despise gays, which I do, so how do I deal with this issue?