North Carolina’s Attorney General Jeff Jackson has sued six landlords, including two companies that own properties in Southeastern North Carolina, alleging they colluded to raise rent prices. The companies listed are Greystar Real Estate Partners LLC, Blackstone’s LivCor LLC, Camden Property Trust, Cushman & Wakefield Inc and Pinnacle Property Management Services LLC, Willow Bridge Property Company LLC, and Cortland Management LLC.
According to the Attorney General’s office, these six landlords used software company RealPage’s algorithm to set rents for approximately a third of one-bedroom and two-bedroom apartments in the Raleigh-Durham-Chapel Hill, and Charlotte metro areas. The companies allegedly shared non-public information about rent prices, occupancy, strategies, and discounts.
Two of the listed companies, Greystar Real Estate Partners and Willow Bridge Property Company, own 14 properties in Southeastern North Carolina. Greystar owns eight properties in Wilmington, while Willow Bridge owns two properties. Attorney General Jackson claims that these landlords have over 70,000 units throughout the state.
The lawsuit is part of Attorney General Jackson’s ongoing case against RealPage, which allegedly exploited landlords’ information to create a pricing algorithm in violation of antitrust laws.
Source: https://www.wect.com/2025/01/07/attorney-general-sues-six-landlords-illegally-raising-rent-north-carolina