Jersey City, NJ, August 15, 2011 --(PR.com
)-- Charles Blumenkehl, managing partner of Blue Asset Management, said his company recently sold an apartment building in the West Bergen section of Jersey City, New Jersey. The building had been purchased as part of a package of distressed multi family apartment buildings acquired by Blue Asset Management in 2009.
According to Blumenkehl, “We were happy to be a part of the revitalization of Jersey City by bringing this building back to the rental market, while helping to upgrade the neighborhood of the property.” Blumenkehl continued, “As the current real estate market cycle matures, we are finding many robust opportunities and are being very selective of the residential assets we maintain as we add a greater allocation of commercial real estate opportunities in our portfolio. The sale of our West Bergen building provided an excellent return for our portfolio and a benefit to the local community while assisting the bank from which we acquired the asset from achieving liquidity for what used to be a ‘problem’ asset.”
Located in Wayne, New Jersey, Blue Asset Management was founded by Charles Blumenkehl to leverage opportunities resultant from the mortgage meltdown. The company is actively buying performing and non-performing residential and commercial mortgages and distressed and investment real estate in New Jersey. For more information about Blue Asset Management or to contact the company about real estate investment opportunities, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.