What was filed

On July 6, 2026 the Justice Department's Antitrust Division filed a proposed consent decree, competitive impact statement, stipulation and order resolving its claims against Willow Bridge Property Company LLC in United States v. RealPage, Inc., case number 1:24-cv-00710 in the Middle District of North Carolina.

Willow Bridge is one of six landlord defendants added when the government amended its complaint on January 7, 2025. The original complaint against RealPage was filed on August 23, 2024. The claims are brought under Sections 1 and 2 of the Sherman Act.

The theory of the case

The government's allegation is that RealPage's revenue-management products — marketed as AIRM, YieldStar and LRO — allowed competing landlords to feed non-public pricing and occupancy data into a common system that then returned rent recommendations to all of them.

The legal significance is that this is charged as coordination, not as pricing. Landlords are free to set rents at any level. What Section 1 prohibits is agreement among competitors, and the government's position is that routing confidential data through a shared algorithm accomplishes the same result as a conversation between competitors, with the same legal consequence.

The sequence of settlements

The Willow Bridge filing was the fourth landlord-specific settlement in the case. LivCor settled on December 23, 2025; a final judgment as to Greystar was entered on March 2, 2026; Pinnacle followed on September 4, 2026. RealPage itself filed a proposed final judgment and competitive impact statement on November 24, 2025, and the Federal Register published notice of that proposed judgment on July 16, 2026, opening the public comment period required by the Tunney Act.

The Tunney Act requires that a proposed antitrust consent decree in a government civil case be published, opened for comment, and found by the court to be in the public interest before entry. That is why these filings are described as proposed and why months separate filing from final judgment.

A sixth landlord followed within weeks

Cortland Management, LLC, a Delaware-registered manager headquartered in Atlanta, reached its own stipulation and proposed final judgment in the same case, and a final judgment was entered on the docket disposing of the claims against it. Cortland was one of the six landlords added when the government amended its complaint on January 7, 2025, along with Greystar, LivCor, Willow Bridge, Pinnacle and a sixth defendant. As of the docket's public filing list, the government has now reached final or proposed resolutions with all six of the amended complaint's landlord defendants plus RealPage itself.

The Cortland final judgment, like the others, was entered without any admission of liability and without a trial or adjudication of the underlying facts — a standard feature of consent judgments under the Antitrust Procedures and Penalties Act, not a Cortland-specific concession.

Limits of what is established

The specific monetary or injunctive terms applying to Willow Bridge could not be read directly from the consent decree text in the sources reviewed. The filing dates and the document types come from the Justice Department's public case docket page and from the department's later Pinnacle announcement, which recites the earlier settlements by name.

Analysis: settling defendants one at a time is not incidental. Each decree typically carries a cooperation obligation, which strengthens the government's position against the defendants who remain. For renters, none of this produces a refund; consent decrees in this posture are about future conduct. As of September 22, 2026, RealPage's own proposed final judgment — filed November 24, 2025 and published for comment in the Federal Register on July 16, 2026 — had not been reported as entered by the court.