ProGreen retains CBRE for Cielo Mar property appraisal
29 January 2018 - 1:00PM
InvestorsHub NewsWire
San Diego,
CA -- January 29, 2018 -- InvestorsHub NewsWire
-- ProGreen US, Inc. (ProGreen), (OTCQB:PGUS),
www.ProGreenUS.com, Twitter
@ProGreenUS, www.CieloMarBaja.com.
ProGreen is
pleased to announce that it has retained CBRE to appraise its Cielo
Mar property. The 5,000 acre oceanfront property is being planned
for a very large, totally green, resort-style vacation and
retirement community on the Pacific coast of Baja California,
Mexico.
As
communicated in the December 20 press release, the company plans to
use the Cielo Mar asset as collateral for a long-term financing,
with proceeds to be used to complete the master plan and to launch
pre-sales marketing of the Cielo Mar development; as well as to
eliminate accumulated debt and for general funding of the company's
agriculture and real estate projects in Baja California.
CBRE will
be visiting the Cielo Mar site on the Bay of Rosario to conduct a
physical inspection, and is expected to complete a comprehensive
valuation report by the mid-March time frame.
About CBRE
Group, Inc.
CBRE Group
is the largest commercial real estate services and investment firm
in the world. It is based in Los Angeles, California and operates
more than 450 offices worldwide and has clients in more than 100
countries. Services provided by the company include facilities
management services to occupiers of commercial real estate as well
as property management, leasing, capital markets, appraisal, and
brokerage services to owners of commercial real estate. The CBRE
Global Investors division sponsors real estate investments via
investment funds and direct investments that it manages. As of
September 30, 2017, the division had $98.3 billion in assets under
management.
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
http://www.progreenus.com/blog
About ProGreenUS, Inc.
ProGreenUS,
Inc., www.ProGreenUS.com, based in
San Diego, California, is engaged primarily with investments in
agricultural and real estate projects in Baja California, Mexico,
both through its joint venture partnership with Inmobiliaria Contel
S.R.L.C.V. (Contel) as well as through its majority-owned Mexican
subsidiary Procon Baja JV (Procon). Contel is now active in the
high margin produce industry, growing crops for exporters to the US
market, with an abundance of land available for expansion under our
JV partnership. Procon has recently acquired 5,000 acres of land
with 4.5 miles of oceanfront on the Bay of El Rosario, for which a
master plan is being drawn for the development of a very large,
totally green, international vacation and retirement community
called "Cielo Mar."
This press
release might contain information, which may constitute
'forward-looking statements' within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995.
'Forward-looking statements' are based upon expectations, estimates
and projections at the time the statements are made that involve a
number of risks, uncertainties and other factors that could cause
actual results or events to differ materially from those
anticipated.
CONTACT INFORMATION
ProGreenUS, Inc.
Jan Telander, CEO
Jan@ProGreenUS.com
Phone (US): +1 (248)
805-3652
Phone (MX): +521 (646)
141-8600
www.ProGreenUS.com