Publicly traded property investment company ProGreen Properties announced it has entered into an agreement with American Residential Gap LLC (ARG US). Under the terms of the agreement, ProGreen will sell income-producing properties to ARG US, which is a wholly owned subsidiary of American Residential Gap ApS (ARG). The properties have been initially purchased, refurbished, and leased by ProGreen, yielding a stipulated minimum return on investment.
ARG is a newly formed property investment company set up in Denmark by a number of Scandinavian investors. The company’s business plan is chiefly to acquire income-producing residential properties in the United States. The initial targeted investment area will be limited to Oakland County, Mich. ProGreen’s wholly owned subsidiary ProGreen Property Management LLC will continue managing all properties sold under the agreement.
Based in Birmingham, Mich., ProGreen Properties is a publicly traded property investment company engaged in acquiring, refurbishing, and upgrading residential real estate that is potentially income-producing. ProGreen believes that some of the best investment opportunities currently available in the United States’ presently distressed property market can be found in Michigan.
For more information, visit www.progreenproperties.com
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