Blackstone Unit Settles $7M Rent-Fixing Lawsuit

Nine state attorneys general announced a $7 million settlement with LivCor, a multifamily asset management company owned by Blackstone. This agreement, filed on June 18, 2026, still requires court approval. The U.S. Department of Justice and state attorneys general allege that LivCor and other defendants engaged in illegal rent fixing by utilizing RealPage's algorithmic pricing software.

The plaintiffs claim that confidential pricing information was collected and shared, allowing landlords to set prices collectively rather than through independent competition. As part of the settlement terms, LivCor has agreed to cease using any software that employs competitively sensitive information for rent setting. The company also committed to cooperating in the ongoing prosecution of the remaining defendants, while maintaining its denial of fault, liability, or wrongdoing.

This settlement is the third reached in the federal price-fixing lawsuit initiated in August 2024. Previous settlements include one with Cortland in April 2025 and another with Greystar in November 2025 for $7 million. Litigation continues against RealPage and other property management firms, including Camden Property Trust, Willow Bridge Property Co., and Pinnacle Property Management Services. LivCor will pay $7 million to California, with the states to determine the distribution of funds among themselves.