REIT's $56M Deal Extends RealPage Settlement Wave
Equity Residential, a publicly traded REIT, has agreed to a $56 million settlement in a class-action lawsuit accusing it and other landlords of colluding to inflate rents using RealPage software. The REIT denies wrongdoing and states the settlement will not materially impact its finances or operations, with its business practices already aligned with the newly agreed-upon restrictions. This follows similar settlements by Camden Property Trust and Mid-America Apartment Communities in the ongoing legal actions.
https://www.bisnow.com/national/news/multifamily/reits-56m-deal-latest-growing-realpage-class-action-settlement-streak-134156