Blue Asset Management Closes on Six Multi-Unit Properties in Paterson

Paterson, NJ, November 27, 2010 --(PR.com)-- Blue Asset Management LLC has recently closed on six multi-family apartment buildings in Paterson, New Jersey, according to Charles Blumenkehl, managing partner for Blue Asset Management.

According to Charles Blumenkehl, “We view Paterson as a city that is short in of good housing supply. Many 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 win-win for everyone involved.”

Charles Blumenkehl and his companies have upgraded and filled over two thirds of the empty units that came with the properties, and is working to complete the turnaround and stabilization of these properties. Blumenkehl predicts he will be back to 100% occupancy of all his companies more than one dozen properties throughout the city that he currently controls 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 maore information about Blue Asset Management LLC or Charles Blumenkehl log onto the company website at www.blueassetmanagementllc.com

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