Behind the deal: Oak Court Mall purchased by local investor group for $14M; here’s what’s next

Poag Development Group is proud to announce the acquisition of Oak Court Mall, marking the property’s return to local ownership for the first time in decades. A group of more than 40 current and former Memphians, led by Josh Poag, CEO of Poag Development Group, purchased the East Memphis mall complex from Greystone Special Servicing.

The transaction closed on December 8, 2023, reinforcing Poag’s commitment to revitalizing community assets and shaping the future of retail in Memphis. Greystone had acquired the property earlier this year for $18.2 million following foreclosure proceedings.

Strategic Partnership with JLL

As part of the acquisition, JLL, a global leader in real estate services, will manage Oak Court Mall. Poag and JLL entered into a strategic agreement in 2022, combining Poag’s expertise in development with JLL’s national mall management capabilities. This partnership ensures Oak Court benefits from best-in-class operational practices and leasing strategies.

Looking Ahead

Poag Development Group plans to implement its proven approach to placemaking and community engagement at Oak Court, creating a vibrant environment that reflects Memphis’ energy and growth.

This announcement was featured in the Memphis Business Journal.