Charles Blumenkehl, managing partner of Blue Asset Management LLC, announced his fund has sold a multi family property it owned in Bergenfield, New Jersey.
According to Blumenkehl, “We are pleased to have been able to take title to the property and within just a few weeks, through applying our value enhancement model, were able to sell the property at a substantial return to our investors while still providing the buyers with an outstanding value for competing property in the Bergenfield real estate market." Blumenkehl also credits Realtor Cheryl Napolitano of Coldwell Banker of Bergenfield New Jersey with helping to facilitate the sale. “Cheryl was very helpful in the expeditious processing of this transaction. Her local knowledge enabled us to sell the property at a price point that lent itself to our model in a short period of time." Blumenkehls’ fund has been active in purchasing multi-unit investment properties in primarily northern New Jersey. According to Blumenkehl, the Bergenfield sale is consistent with the funds desire to manage high yield multi family properties that are sizeable enough to lend themselves to the costs of efficient property management while maintaining a high return on properties which it purchases and resells in the short term.
Charles Blumenkehl founded Blue Asset Management LLC in 2008 to leverage the opportunities made available to real estate investors after the mortgage meltdown took its affect on the Real Estate marketplace. For more information about Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.