We are successful on our projects for one reason becasue we have built an infrastructure of effective real estate brokers, contractors and other required service providers and a depth of knowledge in their markets in Northern New Jersey that enables us returnsupwards of 30%+ oncertain funds we manage and control.
Many national funds have purchased mortgages at deep discounts from their originating lenders. Funds concerned with a lack of local knowledge wouldn’t buy notes that companys like ourselves, who know and specialize in our local northern New Jersey urban and suburban markets, have allowed our fund to purchase properties that were in areas that wouldn’t require higher maintenance or management intensity other properties might. As a result, we have seen yields on some of our investment properties above 30%, and are please to be able to achieve a high level of results for our investors.
Saturday, January 29, 2011
Blue Asset Management Encouraged by Paterson, New Jersey and Other Inner City Holdings
Blue Asset Management LLC is almost completely occupied on all its Paterson properties including a series of multi-family buildings acquired in Paterson, which it added to its previously owned Paterson apartments, according to Charles Blumenkehl, CEO and managing partner for Blue Asset Management.
“We see Paterson as a city that is in support of a stable and well maintained housing supply and we are doing our part locally to support that effort," said Blumenkehl. Many buildings have also been and are being revitalized in the city helping to support the need for housing but being able to stabilize and provide proper maintenance to all these properties, not just newly maintained and renovated units is a big plus for all.”
Charles Blumenkehl grew up in Paterson and has been active in the residential real estate business since 1977. He founded Blue Asset Management LLC in 2008 to leverage the opportunities resultant from the mortgage meltdown which he forsees extending itself for the next few years, combined with the myriad of contacts, networks and effective systems he has developed over the years.
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
“We see Paterson as a city that is in support of a stable and well maintained housing supply and we are doing our part locally to support that effort," said Blumenkehl. Many buildings have also been and are being revitalized in the city helping to support the need for housing but being able to stabilize and provide proper maintenance to all these properties, not just newly maintained and renovated units is a big plus for all.”
Charles Blumenkehl grew up in Paterson and has been active in the residential real estate business since 1977. He founded Blue Asset Management LLC in 2008 to leverage the opportunities resultant from the mortgage meltdown which he forsees extending itself for the next few years, combined with the myriad of contacts, networks and effective systems he has developed over the years.
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
Thursday, January 6, 2011
Blumenkehl Properties Releases Its 2011 Property Management Investment Report
Charles Blumenkehl, CEO of Blumenkehl Properties and managing partner for Blue Asset Management LLC, announced his company has released its 2011 Property Management Investment Report highlighting strategies and programs the company 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 Blumenkehl Properties, 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.
(reprinted from press release dated 1/2/11)
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 Blumenkehl Properties, 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.
(reprinted from press release dated 1/2/11)
Wednesday, January 5, 2011
Blumenkehl Properties Enters in Agreement with Energy Plus
According to Charles BLumenkehl, CEO and managing partner, Blue Asset Management LLC has entered into an agreement with Energy Plus, an independent utility company licensed by the State of New Jersey, to supply electric on a test basis to one of their properties in New Jersey. According to Blumenkehl, the property, a garden apartment complex located in Paterson, New Jersey, hopes to save between 10-15% on its electric cost, which will translate to several thousands of dollars saved in electric costs a year.
According to Charles Blumenkehl, "With the deregulation of utilities in New Jersey, we have chosen Energy Plus as a potential partner to service our utility needs. We are hopeful to reap the benefits of the anticipated savings made available though deregulation of utility providers, and hope to add more buildings once we are satisfied Energy Plus has implemented meaningful savings and service to our company."
Blue Asset Management LLC is a buyer and seller of performing and non performing notes and distressed real estate. The company also maintains a portfolio of properties in Bergen, Passaic, Hudson and Morris Counties in New Jersey. For more information about Charles Blumenkehl or Blue Asset Management LLC lo onto the company website at www.assetmanagementllc.com
Energy Plus® is an independent energy company that has been licensed by the Connecticut Department of Public Utility Control (DPUC), the Maryland Public Service Commission (PSC), the New Jersey Board of Public Utilities (BPU), the New York Public Service Commission (PSC), the Pennsylvania Public Utility Commission (PUC) and the Public Utility Commission of Texas (PUCT license # 10172) and works with local utility companies. Energy Plus provides electricity services through Energy Plus Holdings LLC and natural gas services through Energy Plus Natural Gas LP. and maintains its mission to supply energy to home or small business at the lowest possible cost.
###
According to Charles Blumenkehl, "With the deregulation of utilities in New Jersey, we have chosen Energy Plus as a potential partner to service our utility needs. We are hopeful to reap the benefits of the anticipated savings made available though deregulation of utility providers, and hope to add more buildings once we are satisfied Energy Plus has implemented meaningful savings and service to our company."
Blue Asset Management LLC is a buyer and seller of performing and non performing notes and distressed real estate. The company also maintains a portfolio of properties in Bergen, Passaic, Hudson and Morris Counties in New Jersey. For more information about Charles Blumenkehl or Blue Asset Management LLC lo onto the company website at www.assetmanagementllc.com
Energy Plus® is an independent energy company that has been licensed by the Connecticut Department of Public Utility Control (DPUC), the Maryland Public Service Commission (PSC), the New Jersey Board of Public Utilities (BPU), the New York Public Service Commission (PSC), the Pennsylvania Public Utility Commission (PUC) and the Public Utility Commission of Texas (PUCT license # 10172) and works with local utility companies. Energy Plus provides electricity services through Energy Plus Holdings LLC and natural gas services through Energy Plus Natural Gas LP. and maintains its mission to supply energy to home or small business at the lowest possible cost.
###
Subscribe to:
Posts (Atom)