Dive Brief:
- Nine state attorneys general announced a $7 million settlement with LivCor, a multifamily asset management company owned by Blackstone, which is named in an ongoing federal price-fixing lawsuit against RealPage, according to a consent judgement filed June 18 in the U.S. District Court for the Middle District of North Carolina. The deal still requires court approval.
- The U.S. Department of Justice and attorneys general allege that LivCor and other defendants used RealPage’s algorithmic pricing software to fix rents by illegally collecting and sharing confidential pricing information, enabling landlords to unfairly set their prices in tandem rather than independently as competition laws require.
- According to the settlement terms, LivCor agrees to not use any software that uses competitively sensitive information to set rents, and it will cooperate in the ongoing prosecution of remaining defendants. The company denies fault, liability or wrongdoing. Multifamily Dive reached out to LivCor for comment but did not hear back by publication time.
Dive Insight:
In August 2024, the U.S. Justice Department and a group of state attorneys general sued RealPage over price-fixing, alleging an “unlawful scheme to decrease competition among landlords in apartment pricing and to monopolize the market.”
The plaintiffs filed an amended complaint in January 2025 that added six other companies to the lawsuit, including Chicago-headquartered LivCor, for allegedly “participating in algorithmic pricing schemes that harmed renters.”
This is the third deal reached in the ongoing suit, following a settlement with major North Carolina landlord Cortland in April 2025 and a $7 million settlement with Greystar in November 2025. Litigation continues against the remaining defendants RealPage and property management firms Camden Property Trust, Willow Bridge Property Co. and Cushman & Wakefield subsidiary Pinnacle Property Management Services.
LivCor will pay California the $7 million, and it will distribute money to the other states, according to the settlement agreement. The states will decide among themselves how to allocate the funds. Per their respective press releases, here are the number of affected properties and settlement amounts by state:
| State | Units | Settlement amount |
|---|---|---|
| California | 57 multifamily properties | Not available |
| Colorado | 10 properties with 3,352 total units | $841,500 |
| Connecticut | 0 units | $486,759 |
| Illinois | Not available | Not available |
| Massachusetts | 2 properties with 1,541 total units | $649,842 |
| Minnesota | Not available | $582,000 |
| North Carolina | Not available | Not available |
| Oregon | 1,649 units | Not available |
| Tennessee | 1,200 units | Not available |
LivCor manages approximately 200,000 rental units nationwide, according to a June 18 press release from Connecticut Attorney General William Tong. LivCor has already stopped using RealPage’s software.
“Mega landlords like LivCor abused RealPage’s anticompetitive algorithms to rig the market and jack up rent for tenants everywhere. We sued to restore fairness to this broken system,” Tong said in the release. “Our case against RealPage and other bad actors is ongoing, and we are prepared to use the full weight of our law enforcement authority to give families a fair shot at an affordable home.”
According to the deal, LivCor must also refrain from sharing competitively sensitive pricing information with rival landlords or property managers and establish an antitrust compliance and training program. LivCor must also accept a court-appointed monitor if it uses a third-party pricing algorithm that is not certified in the settlement terms.
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