Several thousand acres in Baja, Calif., are under discussion for a joint venture and/or purchase agreement from the land’s current owner by ProGreen Properties.
Expectations of generating long-term income for ProGreen are paramount to the transaction. ProGreen has proposed that the first phase, encompassing 1,000 acres, be designated for agriculture, with subsequent phases allotted for resort, residential and commercial real estate use, including 80 acres of desirable beachfront property targetable to the U.S. retirement and vacation market.
“I am personally very excited with the prospect of getting into developments in Baja California, having started out as a builder/property developer Southern Spain some forty years ago,” ProGreen’s President & CEO Jan Telander said. “The major difference this time around, is the experience gained from building and selling over 500 homes in a country that, at the time, was so similar to what Baja California is today.”
ProGreen acquires, refurbishes and upgrades residential real estate, transforming existing structures into modern affordable homes. Its assets are marketed both to local real estate markets and to European property investors. The company operates several subsidiaries for purchase, leasing and sale of properties, as well as property management and an in-house construction company.
