C
ushman & Wakefield is among six major landlords sued by the Justice Department for allegedly engaging in anticompetitive practices in rental markets. This expansion of the DOJ's first case alleging algorithmic collusion follows a similar lawsuit filed in August against property management software company RealPage.

    The amended complaint accuses Cushman, Greystar Real Estate Partners, LivCor (owned by Blackstone), Camden Property Trust, Pinnacle Property Management Services (a subsidiary of Cushman), and Willow Bridge Property Co. of using RealPage to share non-public information about rental pricing with competitors. The DOJ claims that landlords also shared pricing strategies through calls and user groups hosted by RealPage.

    Cushman's spokesperson clarified that Pinnacle is a property manager, not an owner or price setter. Greystar denied any involvement in anti-competitive practices and vowed to defend against the allegations. Cortland Management has agreed to settle the claims, citing its development of proprietary revenue management software as a reason for the settlement.

    Illinois and Massachusetts have joined the lawsuit, which alleges that the coordinated actions harmed renters in local housing markets across nine states: California, Colorado, Connecticut, Minnesota, North Carolina, Oregon, Tennessee, Washington, and possibly others.