The Domain Companies, a New York- and New Orleans-based real estate development and investment company, said Tuesday it had acquired The Vorea Group for an undisclosed sum. The acquisition includes New York-based Vorea’s development operations as well as its affiliates: commercial real estate brokerage Igloo and general contractor Vorea Construction Company. The Vorea Group’s existing real estate assets are not included in the transaction.
“Domain and Vorea have had a longstanding relationship as partners on several significant projects, and this transaction is a seamless strategic decision, enabling us to build upon the successes we have shared over the past decade,” said Chris Papamichael, co-CEO at Domain Companies. “Vorea Construction and Igloo perfectly complement Domain’s existing businesses, empowering us to create best-in-class assets that will have a lasting impact in neighborhoods throughout New York City.”
Building on Domain and Vorea’s partnership developing mixed-use projects in New York City, Vorea and its affiliates will integrate with Domain’s established verticals. They include real estate development and investment; multifamily and commercial property management; affiliate Good Company, which offers pre-development planning, leasing, marketing, and management services; and The Shop, a co-working and creative office operating platform.
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