Blue Asset Management, managed by Charles Blumenkehl, CEO and managing partner of Blue Asset Management LLC, has announced that his company will be aggressively seeking non-performing mortgage notes throughout the state of New Jersey.
According to Charles Blumenkehl, "regional and local banks will be hard pressed to retain many of their non performing notes on their books, and will need to liquidate their non performing inventory to adhere to FDIC banking guidelines. We hope to be in the forefront of this activity, and look forward to leveraging our relationships and liquidity to help solve the problem that exists for many of these affected holders of mortgages that need to be monetized quickly."
According to Blumenkehl, several hundred banks have been placed on the FDIC watch list, and will have to act to comply to regulation. By enabling banks to liquidate their New Jersey portfolio, Blumenkehl hopes his company will leverage the opportunities at hand while helping banks comply to federal guidelines and remain solvent.
Blue Asset Management was founded by Charles Blumenkehl in 2008 and is a buyer of non-performing and performing notes and distressed real estate. 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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Showing posts with label reo. Show all posts
Showing posts with label reo. Show all posts
Saturday, December 11, 2010
Friday, December 10, 2010
Blue Asset Management Expands Markets
According to Charles Blumenkehl, CEO and managing partner of Blue Asset Management, the company is expanding its markets to leverage opportunities sustained by additional pressures from new entries into their local markets. Blue Asset Management has been focused primarily in Bergen, Essex, Morris, Passaic and Hudson Counties has included distressed real estate in Monmouth, Somerset and Warren Counties as well.
"With the increase in players in the counties we have been active in, the expectations of our local sellers have become less reconcilable with our model and market expectations," Blumenkehl continued, "By increasing our markets, we can still control our product flow through existing networks while increasing our ability to leverage the opportunities in our markets." Blumekehl's company controls close $10 million in holdings and is hoping to increase their property flow in 2011.
Blue Asset Management LLC is a buyer and seller of non-performing and performing residential and commercial notes and distressed real estate. For more information about Charles Blumenkehl and Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com
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"With the increase in players in the counties we have been active in, the expectations of our local sellers have become less reconcilable with our model and market expectations," Blumenkehl continued, "By increasing our markets, we can still control our product flow through existing networks while increasing our ability to leverage the opportunities in our markets." Blumekehl's company controls close $10 million in holdings and is hoping to increase their property flow in 2011.
Blue Asset Management LLC is a buyer and seller of non-performing and performing residential and commercial notes and distressed real estate. For more information about Charles Blumenkehl and Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com
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Blue Asset Management Closes on Six Multi-Unit Properties in Paterson
Charles Blumenkehl, CEO and managing partner for Blue Asset Management LLC has recently closed on six multi-family apartment buildings in Paterson, New Jersey
According to Charles Blumenkehl, “I view Paterson as a city short in good habitable housing supply. Projects have sprung up in the past few years, and have helped to support that need, but the opportunity to acquire these multiple family properties and help stabilze both the buildings and neighborhoods they are in is a big win for everyone involved.”
Charles Blumenkehl and his companies have renovated and filled more than 90% of the units that came with the properties, and is working to complete the turnaround and stabilization of these properties shortly. Blumenkehl predicts he will be close to 100% occupancy of the more than one dozen properties throughout the city currently controled by Blue Asset Management by the first quarter of 2011.
Blue Asset Management was founded by Charles Blumenkehl in 2008 to leverage the opportunities resulting from the mortgage and liquidity meltdown that began a few years ago. For more information about Blue Asset Management LLC or Charles Blumenkehl log onto the company website at www.blueassetmanagementllc.com
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According to Charles Blumenkehl, “I view Paterson as a city short in good habitable housing supply. Projects have sprung up in the past few years, and have helped to support that need, but the opportunity to acquire these multiple family properties and help stabilze both the buildings and neighborhoods they are in is a big win for everyone involved.”
Charles Blumenkehl and his companies have renovated and filled more than 90% of the units that came with the properties, and is working to complete the turnaround and stabilization of these properties shortly. Blumenkehl predicts he will be close to 100% occupancy of the more than one dozen properties throughout the city currently controled by Blue Asset Management by the first quarter of 2011.
Blue Asset Management was founded by Charles Blumenkehl in 2008 to leverage the opportunities resulting from the mortgage and liquidity meltdown that began a few years ago. For more information about Blue Asset Management LLC or Charles Blumenkehl log onto the company website at www.blueassetmanagementllc.com
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