Real Estate
Cushman & Wakefield, Greystar Added to DOJ Rental Collusion Case
- Agency sued RealPage last year for antitrust violations
- One of seven landlords named in lawsuit agreed to settlement
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The Justice Department is thrusting the largest rental property managers into the spotlight as it expands a price-fixing lawsuit alleging widespread collusion in the housing rental market.
In an amended lawsuit against RealPage Inc., a top software provider to the multifamily rental industry, the Justice Department on Tuesday accused seven major landlords including Cushman & Wakefield Plc and Greystar Real Estate Partners LLC, as well as a Blackstone Inc. portfolio company, of illegally colluding to drive up rent prices. In a separate filing, the Justice Department said it was settling with one of the landlords, Cortland Management LLC.