Wednesday, February 16, 2011

Blue Asset Management in Market for New Jersey Apartment Buildings

Blue Asset Management LLC, buyer of mortgages, distressed and investment real estate in New Jersey, is seeking to buy apartment complexes and buildings in northern New Jersey.

According to Charles Blumenkehl, managing partner for Blue Asset Management LLC, “We believe we are reaching the bottom of the real estate market. The opportunity to buy residential rental properties and the demand for rentals are as good as we have seen in many years.” Blumenkehl continued, “We are aggressively seeking to add to our existing inventory of residential rental properties and are scouring the northern New Jersey market for opportunities.”

Blumenkehl says his group currently owns over 30 buildings in the northern New Jersey market, including 6 or more buildings each in Hudson, Bergen, Passaic and Morris Counties. Blumenkehl added, “With the residential rental market strengthening substantially, we can’t get apartments quick enough.” Blumenkehl invites anyone who has apartment inventory for sale or knows of buildings for sale in northern New Jersey to contact him directly at the main office of Blue Asset Management LLC in Wayne New Jersey.

Blue Asset Management LLC was founded by Blumenkehl in 2008 to leverage the opportunities which became available as a result of the real estate and mortgage meltdown of the last few years. For more information about Charles Blumenkehl or Blue Asset Management LLC, log onto the company website at or call Mr. Blumenkehl directly at 973 835-1400.

Monday, February 14, 2011

Spike in Mortgage Rates May Slow Down Housing Recovery

According to Charles Blumenkehl, managing partner of Blue Asset Management, the recent spike in interest rates could dampen the housing recovery

Soon after President Obama made a deal with Republicans to extend the Bush-era economic recovery initiatives, interest rates spiked to their highest levels since June and debt prices sharply fell. According to Charles Blumenkehl, CEO of Blumenkehl Companies and managing partner at Blue Asset Management LLC, “The sudden rise in interest rates to the consumer are disconcerting, Typically, a rise in rate in a normalized market could increase an urgency for buyers to get into the market before rates have a meaningful impact on their buying power.. But in the current market, real estate sales are not responding well to the incentives that are not being offered. With unemployment hovering close to 10% in most of the county, it is likely higher interest rates will dampen any meaningful real estate recovery in the first quarter of 2011”.

Blumenkehl did note that the decrease in demand has varied throughout the country, and pointed to reports that actually noted increases in certain markets including an increase in value of 3% in the New York area for 2009, as an indicator that while it may take longer, ultimately the real estate market will recover.

Blumenkehl added. “God stopped making dirt a long time ago, but hasn’t stopped making people, In the short term, anything can happen, but history has shown that in the long term, real estate will only become more scarce and as a result more valuable.”
For more information about Charles Blumenkehl or Blue Asset Management, log on to their companies website at or call the company directly at 973-835-1400

Tuesday, February 1, 2011

Blue Asset Management Restructures Mortgage in Sussex County

Charles Blumenkehl, CEO of Blumenkehl Companies and managing partner of Blue Asset Management LLC, announced his company has completed a mortgage restructuring for property owned in Sussex County New Jersey. The property was purchased in 2005 at which time they originated a 6.5% mortgage. The property was recently refinanced at a rate of 3 7/8%. representing a huge savings.

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 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. 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 or call Charles Blumenkehl directly at 973-835-1400.