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

December 11, 2023

Memphis Business Journal
By: Stephen MacLeod

Oak Court Mall is under 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 for $14.25 million from Greystone Special Servicing. Greystone had acquired the property for $18.2 million in March 2023 after the mall fell into foreclosure last year. The local development deal closed late on Friday, Dec. 8

Chicago-based, publicly traded JLL will manage Oak Court Mall. JLL and Poag Development Groupentered into an agreement in August 2022. Poag develops for JLL nationally and JLL handles management and leasing. The same arrangement will apply to Oak Court. JLL brings its national mall management expertise to the project, as Poag seeks to put in place its best practices at Oak Court.

Read more at The Memphis Business Journal…