SAN DIEGO, March 21, 2018 /PRNewswire/ -- ProGreen US, Inc. (ProGreen) (OTCQB: PGUS), a San Diego-based company with land development projects in Baja California, Mexico, today announced that CBRE Group, Inc., has delivered the review draft for the appraisal of its Cielo Mar property, in which the "as is" market value of $42 million (USD) is concluded.
"We are pleased to have the valuation concluded by CBRE," says Jan Telander, CEO of ProGreen. "With the appraisal in hand, we will be able to proceed with the next steps in our plan for a larger loan financing for the company's operations, and furthering our Baja California projects."
The final appraisal report, once received, will be made available for public viewing.
Cielo Mar - The Future of Living: Located in the Bay of Rosario, on the Pacific coast of Baja California, Cielo Mar is being planned as a totally green, 5,000-acre resort-style vacation and retirement community. With a year-round climate very similar to San Diego, this planned development gets its name from "cielo," meaning "heaven," and "mar," which means "sea" - making Cielo Mar "Heaven By The Sea."
About ProGreenUS, Inc.
ProGreenUS, Inc. (ISIN: US74327M1027), headquartered in San Diego, California, is engaged primarily with investments in agriculture and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V., as well as through its majority-owned Mexican subsidiary Procon Baja JV. For additional information about ProGreen, visit our website at www.progreenus.com. Follow us on Twitter: @ProGreenUS.
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SOURCE ProGreen US