FBI Raids Atlanta Multifamily Housing Sector After Antitrust Laws May Be Violated

Channel 2 Action News has become aware of a federal investigation into price-fixing in the apartment rental market.

The investigation led FBI agents to raid an Atlanta-based apartment management company.

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The Atlanta FBI confirmed that its agents were present at the Cortland Management office address in Atlanta. Cortland is a company that manages apartment complexes across the country, including dozens in the Atlanta metro area.

In a statement to Channel 2 Action NewsCortland said: “We can confirm that the Federal Bureau of Investigation executed a limited search warrant at our Atlanta office as part of an ongoing investigation by the U.S. Department of Justice into potential antitrust violations. in the multi-family housing sector.

The search took place last week in their Buckhead office.

At this time, there are no charges and no complaints have been filed. Former prosecutor Chris Timmons explained what antitrust violations could mean.

“Usually antitrust is some sort of anticompetitive behavior meaning there’s an allegation of price fixing in some way,” Timmons said. “A person they had contact with is accused of fixing prices and artificially driving them high in the multi-family housing market.”

Cortland added: “We are cooperating fully with this investigation and understand that neither Cortland nor any of our employees are ‘targets’ of this investigation. »

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“Typically, a search warrant comes into play when someone fails to respond to a subpoena or other informal document request,” Timmons said. “When that happens, someone takes out a search warrant and gets it from a judge. A judge finds there is probable cause that there is evidence of a crime at that location and will serve the search warrant.

Cortland added: “Due to ongoing litigation, we cannot provide additional comment at this time. »

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