Charles Blumenkehl, managing partner of Blue Asset Management and CEO of Blumenkehl Properties, announced his company has taken title to a multi-family foreclosed property in North Bergen, New Jersey.
According to Blumenkehl. "We are please to have been able to complete this transaction. The property we have bought is in a very desirable area and offers our prospective tenants, once we complete the rehabilitation of our newly acquired property, spacious apartments and off street parking, a rarity in North Bergen." Blumenkehl continued, "We are also pleased that we were able to help the lender who had foreclosed on the property monetize their investment quickly despite seasonal challenges, and look forward to helping stabilize the building and already outstanding neighborhood within which the property is located."
Blumenkehl says his company is already receiving calls about the property from interested properties, and expects to the rehabilitation and upgrading of the property to be complete by the end of the first quarter of 2011.
For more information about Charles BLumenkehl, Blumenkehl Properties or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or the company directly at 973 935-1400.