The FBI raided Cortland for its rent-fixing scheme

Federal investigators with the U.S. Department of Justice are currently investigating an alleged price-fixing scheme to boost rent linked to Atlanta-based real estate development firm Cortland.

The Federal Bureau of Investigation raided Cortland’s Atlanta headquarters after court documents revealed that “required the use of algorithms by competitors in alleged price fixing. The court stated that under the Sherman Act, “it is per se unlawful for competitors to pool their independent decision-making power to raise, lower, fix, fix, or stabilize prices; and the Supreme Court clearly stated that “the machinery utilized by the mixture to repair prices is immaterial.”

Cortland, owner of over 80,000 houses and apartments throughout the country, confirmed in an announcement obtained by this federal agent conducted a limited search operation. Armed with an injunction, it is an element of an ongoing investigation by the U.S. Department of Justice into suspected anti-competitive practices within the multifamily housing industry. The company said it was fully cooperating with investigators, saying that “neither Cortland nor any of our employees are ‘targets’ of this investigation.”

Northwest Atlanta tenant Torrin Strong told the outlet that his two-bedroom apartment costs nearly $1,700 a month, and he now spends about $500 greater than he did a number of years ago.

According to Cortland’s corporate profile on LinkedIn, the corporate operates as a “product for people” company., including investments in multi-family real estate, their development and management under one roof. Cortland’s signature approach internalizes the overwhelming majority of functions related to multifamily development, design, construction, renovation, asset management and ownership.

With a team of nearly 2,500 people across the United States and world wide, Cortland is headquartered in Atlanta, Georgia and London, United Kingdom. The company’s website shows it also has regional offices in Charlotte, Dallas, Denver, Greenwich, Houston, Orlando and Phoenix, support for a build-to-rent (BTR) management and development platform. in UK.