Gaia Real Estate, a new investrnent company and private equity fund, has acquired Vision Group Management, an eight-year-old company and provider of management for individual condominium owners in the metropolitan area.

Both companies are based in New York.
Vision will serve as in-house manager of multifamily properties and condominium units acquired by Gaia. Vision's responsibilities will include all day-to-day property management aspect of the properties, including rentals, tenant relationship, collections, maintenance and building improvements.

At the same time, Vision will continue to operate its own profitable condominium management business which has over 300 investors worldwide and over $I00-million in assets under management, including corporate housing units throughout Manhattan, and apartrnents at Parkchester in the Bronx, Greenpoint Lofts in Brooklyn, and the Journal Square area of Jersey City.

Amir Yerushalmi, Vision's president and co-foundeer, is co-founder and managing partner of Gaia. Ben Friedman, Vision's other co-founder, will be joining Gaia as a partner and has een named CEO of Gaia's new Vision division.

Gaia Real Estate was formed in early 2009 by three paitners, Amir Yerushalmi, Danny Fishman, formerly co-QEO f the Tamir Fishman Group, a $6-billion Israel-based investment bank and Ken Woolley, formerly CEO of Exfa Space Storage, the second largest selfstorage operator in the U.S.