According to Charles Blumenkehl, CEO and managing partner of Blue Asset Management LLC. the company is fully occupied in the projects it has recently acquired in the Paterson New Jersey area.
According to Blumenkehl, "Having grown up in the Paterson area, I know well the opportunities within the city and where the most sensible investments in this opportunistic market can occur in this current economic environment."
Blumenkehl said his companies were greatly encouraged by the quick acceptance and stabilization the properties have experienced and looks forward to the opportunity of helping build a supply of suitable housing where it is needed most. "Paterson is a vibrant city we think is presenting an interesting market and we wish to support the efforts of the administration by helping to stabilize the city and its historical neighborhoods.
Blue Asset Management LLC and Blumenkehl Real Estate companies are buyers and sellers of performing and non performing notes and distressed real estate. For more information about the company log onto their website at www.blueassetmanagementllc or call the company directly at 973 835-1400
Showing posts with label rentals. Show all posts
Showing posts with label rentals. Show all posts
Tuesday, February 1, 2011
Tuesday, January 18, 2011
Charles Blumenkehl of Blue Asset Management LLC Sees Demand for Residential Rentals Increasing
While sales and rental markets have softened these last two years according to the National Association of Realtors, Charles Blumenkehl, managing partner of Blue Asset Management LLC and CEO of Blumenkehl Properties, managers of investment properties throughout New Jersey, says his company is seeing more demand for residential rental properties and believes this trend will dramatically increase in the next few years.
Blumenkehl points to statistics released by the National Association of Home Builders at the International Builders Show, which had only 114,000 multi-family homes started in 2010, which the Association states is less than the number of multi family homes removed from the market during the same period. NAHB further stated that while they anticipate another 133,000 multi family units will be started in 2011, they too predict that number will be far less than the expected demand.
According to Blumenkehl, “With a large part of the population reaching rental age, combined with the number of home share and live at home arrangements already in place due to the economic contraction of the last few years, the demand for rental housing is becoming greater as the country moves toward economic recovery.” Blumenkehl, whose properties have a 96% occupancy rate in New Jersey at current, continued, “Rents have already began climbing in some of our markets, and a shortage of new multifamily units coupled with a rise in prime renter-age households will give landlords clout they haven’t seen since we emerged from the last housing recession in the mid-1990s.”
Blumenkehl Properties and Blue Asset Management LLC are managers and buyers of performing and non-performing mortgages and distressed and investment properties in New Jersey. For more information about Blue Asset Management or Charles Blumenkehl, log onto the company website at www.blueassetmanagementllc.com
Blumenkehl points to statistics released by the National Association of Home Builders at the International Builders Show, which had only 114,000 multi-family homes started in 2010, which the Association states is less than the number of multi family homes removed from the market during the same period. NAHB further stated that while they anticipate another 133,000 multi family units will be started in 2011, they too predict that number will be far less than the expected demand.
According to Blumenkehl, “With a large part of the population reaching rental age, combined with the number of home share and live at home arrangements already in place due to the economic contraction of the last few years, the demand for rental housing is becoming greater as the country moves toward economic recovery.” Blumenkehl, whose properties have a 96% occupancy rate in New Jersey at current, continued, “Rents have already began climbing in some of our markets, and a shortage of new multifamily units coupled with a rise in prime renter-age households will give landlords clout they haven’t seen since we emerged from the last housing recession in the mid-1990s.”
Blumenkehl Properties and Blue Asset Management LLC are managers and buyers of performing and non-performing mortgages and distressed and investment properties in New Jersey. For more information about Blue Asset Management or Charles Blumenkehl, log onto the company website at www.blueassetmanagementllc.com
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