According to Charles Blumenkehl, CEO and managing partner of Blue Asset Management, the company is expanding its markets to leverage opportunities sustained by additional pressures from new entries into their local markets. Blue Asset Management has been focused primarily in Bergen, Essex, Morris, Passaic and Hudson Counties has included distressed real estate in Monmouth, Somerset and Warren Counties as well.
"With the increase in players in the counties we have been active in, the expectations of our local sellers have become less reconcilable with our model and market expectations," Blumenkehl continued, "By increasing our markets, we can still control our product flow through existing networks while increasing our ability to leverage the opportunities in our markets." Blumekehl's company controls close $10 million in holdings and is hoping to increase their property flow in 2011.
Blue Asset Management LLC is a buyer and seller of non-performing and performing residential and commercial notes and distressed real estate. For more information about Charles Blumenkehl and Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com