Boston, MA, October 22, 2014 -- /EPR NETWORK/ -- New Jersey based Blue Asset Management LLC, a leading small and mid-cap mortgage disposition firm dealing in non-performing commercial mortgage debt, has recently opened a second office in Hingham Massachusetts expanding the company’s northeast footprint to seven states. Matt Galvin, local real estate operator who has been involved in numerous high yield real estate acquisitions in New England while working with several large New England real estate groups, was named managing director. The office is located at 25 Recreation Park Drive Ste 206, Hingham, Mass.
The opening follows four years of strong performance resulting in the acquisition and disposition of over $120 million in commercial mortgage debt by Blue Asset Management. The new office currently has been involved in the acquisition of over $30 million in real estate assets under management in New England, and is targeting $100 million in the next 12 months.
“Blue Asset Management’s steady growth and our expanding national footprint are a tribute to our talented staff, successfully navigating the mortgage challenges existing in these past few years,” according to Charles Blumenkehl, CEO and founder of Blue Asset Management. “Our asset management team understands the product and players and achieves top executions for our firm and investors.”
“The New England market is bustling with activity,” according to Matt Galvin, director of the New England office. “We provide an excellent solution for lenders and banks as the economy strengthens. I’m excited to combine our talents in the repositioning and disposition of these assets.”
A continuous effort of providing capital solutions for non-performing debt to local, regional and national commercial banks and lenders remains the key driver for the firm’s success. Blumenkehl added, “The ability to fund and execute quickly and efficiently makes us a huge value added to our banking relationships as we continue to assist in repositioning non-performing assets to the benefit of the lender, borrower and our investors.
Founded in 2008, Blue Asset Management is a private company with real estate and mortgage interests in New Jersey, New York, Massachusetts, Connecticut, Rhode Island, New Hampshire and Pennsylvania. For more information about Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com.
Blue Asset Management LLC
2282 Hamburg Tpke
Wayne, NJ 07470