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.
Saturday, February 5, 2011
Friday, February 4, 2011
Blue Asset Management LLC Releases Its 2011 Property Management Investment Report
Charles Blumenkehl, managing partner for Blue Asset Management, announced his fund has released its 2011 Property Management Investment Report highlighting strategies and programs the fund plans on in 2011.
According to Charles Blumenkehl, attention to property stability, value enhancement and protection, and the acquisition of new assets are among main highlights of their report.
“To minimize risk and maximize return, we are focused on running tightly monitored property management systems lending themselves to responsible asset management and acquisition, while understanding and controlling the investments that we will make in our properties in the upcoming year,” Blumenkehl said. “We must be ready for bumps in the management process, while focusing our efforts on lowering management costs, increasing collectibles and containing property operational costs,” Blumenkehl continued.
Among those areas singled out by Blumenkehl as part of their overall strategy of increasing existing yields on managed real estate are
- Savings in energy costs by taking advantage of the deregulation opportunities recently created in New Jersey
- Lowering insurance premiums by shopping insurance carriers and coverages while maintaining value coverage in line with the current market trends
- Renegotiating interest costs on mortgages wherever possible, and opening dialogue with mortgage holders and new lenders desiring to do business with the company because of its strong financial track record of loan repayment
- Reduction of property taxes through engaging a more aggressive and rigorous tax appeal process in many of the municipalities the company owns real estate in
- Lower water usage through the installation of low-water consumption devices in many of their buildings.
Blumenkehl has been managing real estate for over 30 years, and describes the upcoming year as one of opportunity and long term increased returns through proper planning. For more information about Blue Asset Management LLC or Charles Blumenkehl, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
According to Charles Blumenkehl, attention to property stability, value enhancement and protection, and the acquisition of new assets are among main highlights of their report.
“To minimize risk and maximize return, we are focused on running tightly monitored property management systems lending themselves to responsible asset management and acquisition, while understanding and controlling the investments that we will make in our properties in the upcoming year,” Blumenkehl said. “We must be ready for bumps in the management process, while focusing our efforts on lowering management costs, increasing collectibles and containing property operational costs,” Blumenkehl continued.
Among those areas singled out by Blumenkehl as part of their overall strategy of increasing existing yields on managed real estate are
- Savings in energy costs by taking advantage of the deregulation opportunities recently created in New Jersey
- Lowering insurance premiums by shopping insurance carriers and coverages while maintaining value coverage in line with the current market trends
- Renegotiating interest costs on mortgages wherever possible, and opening dialogue with mortgage holders and new lenders desiring to do business with the company because of its strong financial track record of loan repayment
- Reduction of property taxes through engaging a more aggressive and rigorous tax appeal process in many of the municipalities the company owns real estate in
- Lower water usage through the installation of low-water consumption devices in many of their buildings.
Blumenkehl has been managing real estate for over 30 years, and describes the upcoming year as one of opportunity and long term increased returns through proper planning. For more information about Blue Asset Management LLC or Charles Blumenkehl, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
Blue Asset Management Restructures Mortgage in Sussex County
Charles Blumenkehl, CEO of Blumenkehl Companies and managing partner of Blue Asset Management LLC, announced restructuring a moertgage for property owned in Sussex County New Jersey. The property was purchased in 2005 at which time they originated a 6.5% mortgage. Blumenkehl says they closed the new mortgage reducing the rate to 3 7/8%.
According to Blumenkehl, “Obviously we are thrilled at the ability to refinance the mortgage and substantially increase our returns on our property. As a valued Wells Fargo and Wachovia Bank customer for many years, we were able to leverage our excellent financial loan track record and payment history and take advantage of the available historic low rates of today’s mortgage marketplace despite the increase in restraints imposed by banks, including Wells, resultant of the residential mortgage meltdown in the past few years. We are continuing to maintain dialogues with our lenders throughout New Jersey and are seeking to restructure several more properties as well while giving our lenders the certainty and confidence of being paid back on their investment timely while maintaining meaningful collateral ratios to the benefit of their stockholders.”
Blumenkehl continued, “As the economic recovery continues to manifest itself in increased buying opportunities for our company, the ability to restructure our loans supports our equity investments we are currently making in New Jersey. We look forward to making the right equity investments in the New Jersey property acquisitions we are buying now that are undervalued and provide the opportunity to increase in value through our value enhancement procedures, systems and renovations while supporting our efforts through working with our banks on restructuring financing on our current property portfolio.”
For more information about Charles Blumenkehl, Blumenkehl Companies or Blue Asset Management LLC, log on to the company website at www.bluemanagementllc.com or call Charles Blumenkehl directly at 973-835-1400.
According to Blumenkehl, “Obviously we are thrilled at the ability to refinance the mortgage and substantially increase our returns on our property. As a valued Wells Fargo and Wachovia Bank customer for many years, we were able to leverage our excellent financial loan track record and payment history and take advantage of the available historic low rates of today’s mortgage marketplace despite the increase in restraints imposed by banks, including Wells, resultant of the residential mortgage meltdown in the past few years. We are continuing to maintain dialogues with our lenders throughout New Jersey and are seeking to restructure several more properties as well while giving our lenders the certainty and confidence of being paid back on their investment timely while maintaining meaningful collateral ratios to the benefit of their stockholders.”
Blumenkehl continued, “As the economic recovery continues to manifest itself in increased buying opportunities for our company, the ability to restructure our loans supports our equity investments we are currently making in New Jersey. We look forward to making the right equity investments in the New Jersey property acquisitions we are buying now that are undervalued and provide the opportunity to increase in value through our value enhancement procedures, systems and renovations while supporting our efforts through working with our banks on restructuring financing on our current property portfolio.”
For more information about Charles Blumenkehl, Blumenkehl Companies or Blue Asset Management LLC, log on to the company website at www.bluemanagementllc.com or call Charles Blumenkehl directly at 973-835-1400.
Thursday, February 3, 2011
James Boyle Joins Blue Asset Management
Charles Blumenkehl, managing partner at Blue Asset Management LLC, has announced that James Boyle, leadership coach and active Realtor in Essex County, has joined Blue Asset Management LLC as an asset manager for the company. James, a lifetime New Jersey resident, received his undergraduate degree at Montclair State University and earned his Masters degree at Seton Hall.
According to Charles Blumenkehl, managing partner at Blue Asset Management LLC, “James is a bright and dynamic personality who understands the business we’re in and is talented in those areas which help our systems flow.” Blumenkehl continued, “James is an excellent facilitator and communicator and has proven himself in a short time to be a valuable and effective member of our team.”
Blue Asset Management LLC is a buyer and seller of residential and commercial performing and non-performing mortgages and distressed real estate. It is a part of the Blumenkehl group of companies that own and manage real estate portfolios throughout New Jersey. For more information about Blue Asset Management LLC, James Boyle or Charles Blumenkehl, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
According to Charles Blumenkehl, managing partner at Blue Asset Management LLC, “James is a bright and dynamic personality who understands the business we’re in and is talented in those areas which help our systems flow.” Blumenkehl continued, “James is an excellent facilitator and communicator and has proven himself in a short time to be a valuable and effective member of our team.”
Blue Asset Management LLC is a buyer and seller of residential and commercial performing and non-performing mortgages and distressed real estate. It is a part of the Blumenkehl group of companies that own and manage real estate portfolios throughout New Jersey. For more information about Blue Asset Management LLC, James Boyle or Charles Blumenkehl, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
Blue Asset Management LLC Markets Gloucester and Cumberland Properties in New Jersey
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.
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.
Tuesday, February 1, 2011
Blue Asset Management LLC At 100% Occupancy in Paterson
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
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
Blue Asset Management LLC to Increase Holdings in Hudson County
Charles Blumenkehl, CEO and managing partner of Blue Asset Management LLC has announced that his company has contracted to purchase a multi-family building in the North Bergen, Hudson County area.
According to Charles Blumenkehl, CEO and Managing Partner of Blue Asset Management LLC, "The proximity of North Bergen to Manhattan, the need for rental housing in the market and the opportunity to find properties that have the ability to benefit from our value enhancement systems while providing owners viable exits and helping to revitalize and support the neighborhoods within which the properties are located are a value-added for everone involved."
Blumenkehl's companies currently manage a number of buildings in Hudson county, and plans to increase their holdings as opportunities present themselves. Blumenkehl also sites the Path trains a and local train and subway access now made available through the Jersey City North Bergen corridor as a driver in the desirability for real estate in the Hudson markets.
Charles Blumenkehl is managing partner of Blue Asset Management and Blue companies. Blue Asset Management is a buyer and seller of performing, non-performing and distressed commercial and residential real estate. For more information about Charles Blumenkehl or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
According to Charles Blumenkehl, CEO and Managing Partner of Blue Asset Management LLC, "The proximity of North Bergen to Manhattan, the need for rental housing in the market and the opportunity to find properties that have the ability to benefit from our value enhancement systems while providing owners viable exits and helping to revitalize and support the neighborhoods within which the properties are located are a value-added for everone involved."
Blumenkehl's companies currently manage a number of buildings in Hudson county, and plans to increase their holdings as opportunities present themselves. Blumenkehl also sites the Path trains a and local train and subway access now made available through the Jersey City North Bergen corridor as a driver in the desirability for real estate in the Hudson markets.
Charles Blumenkehl is managing partner of Blue Asset Management and Blue companies. Blue Asset Management is a buyer and seller of performing, non-performing and distressed commercial and residential real estate. For more information about Charles Blumenkehl or 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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