Black Family Closes On Seven-Figure Real Estate Deal To Help House And Grow Black-Owned Businesses

In a reported seven-figure deal, Tony A. Reimonenq Jr., his wife, and his three sons purchased a 20-unit strip mall in the Oak Grove community of Hattiesburg, MS, according to Black Business. Their mission for what will be known as Greenwood Plaza is to reimagine Tulsa, Oklahoma’s Historic Greenwood District — the original Black Wall Street. 

According to WDAM 7, Greenwood 2.0 will help entrepreneurs house and grow their businesses.

Black Business details that “the family has become one of the state’s arguably three percent of African Americans to have ever independently brokered a million-dollar deal.”

“I’ve always had a heart to help others succeed, but to do that I first had to succeed,” Reimonenq Jr. said. “I’ve dreamed of having a location from which others like myself can work and draw inspiration from Tulsa’s Greenwood District.”

He added: “I want to empower the people at the bottom of the pyramid who just need an opportunity. They aren’t lazy. They work hard but just haven’t learned how to win yet. I know how and want to link up with them to be a part of helping to not only change the trajectory of their lives and the lives of their families but of our communities as a whole. I see it as a civic duty.”

While it’s a grand deal, reaching the achievement came with its fair share of hurdles. Once the property went on sale, Reimonenq Jr. and realtors London & Stetleman came to a consensus on a sale price. However, his loan requests ended up being rejected by multiple banks.

Reimonenq Jr. went on to land a “creative financing deal,” which is backing his goal of supporting Black business owners.

“Several times it looked like it wasn’t going to happen, and other times it looked like we were off to the races,” he said, according to reports.