Charles Blumenkehl, managing partner for Blue Asset Management LLC, has announced his fund is divesting its Gloucester and Cumberland county properties.
According to Blumenkehl, "While we recognize Gloucester and Cumberland counties and the south Jersey corridor as a land of much opportunity for distressed and undervalued real estate, the properties we currently own in these areas don't match our current profile and ability to provide the type of execution of our property needs as we planned out. In terms of the maintenance, demographics and control of the properties, we have determined to list the properties for sale and focus our efforts more effectively
elsewhere."
Blue Asset Management LLC had recently announced its intentions to pursue properties outside of its core real estate markets in northern New Jersey, and has extended its footprint and search for opportunity toward Monmouth and Warren counties in New Jersey. The company says that at current it has no plans to extend efforts into southern New Jersey.
Founded in 2008 by Charles Blumenkehl, Blue Asset Management LLC is a buyer and seller of performing and non-performing residential and commercial notes and distressed real estate in New Jersey. For more information about Charles Blumenkehl and Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
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