News and blog

CFPB & FTC Investigation into Private Equity Landlords Should Focus on Worst Offenders

April 20, 2021

With the Consumer Financial Protection Bureau and the Federal Trade Commission announcing an investigation into the eviction practices of “major multistate landlords, eviction management services, and private equity firms” that are forcing people out of their homes despite government prohibitions and laws regarding tenants rights, the Private Equity Stakeholder Project recommends that the investigation focus on private equity and corporate landlords that have filed to evict the most residents, as detailed in data recently published by PESP.

Despite a ban from the CDC, and despite more than $300 million in federal Covid-19 relief subsidies, some private equity firms and other corporate landlords have been evicting people at an alarming rate. From coast-to-coast, some firms have been skirting CDC regulations, disproportionately upending the lives of African American families, all so they can boost their profits in the middle of a pandemic.

See PANDEMIC EVICTOR: Don Mullen’s Pretium Partners Files to Evict Black Renters, Collects Billions From Investors

These eviction filings are impacting communities of color the hardest. Clayton and DeKalb Counties in Georgia, which have majority Black populations, have seen some of the largest numbers of filings. Since the CDC eviction moratorium took effect in November 2020, the Private Equity Stakeholder Project has documented almost 13,000 eviction actions by corporate landlords in Clayton and DeKalb County counties.

The companies we have see filing the most evictions since CDC’s moratorium was issued on September 4, 2020, include:

LandlordFilings 9/4/20-4/2/21
S2 Capital1,160
Ventron Management1,134
Pretium Partners (Progress Residential, Front Yard Residential)1,074
Western Wealth Capital1,018
Invitation Homes710
Bridge Investment Group656
Mid-America Apartment Communities629
Tides Equities580
American Landmark Apartments/ Electra America567
Siegel Group555
Madera Residential547
Weidner Apartment Homes537
Onni Group521
Blue Magma Residential501
Villa Serena Communities470
Camden Property Trust422
Olive Tree Holdings409
Crown Bay Group381
Carroll Organization370
Dominium Apartments362
Pro Residential352
Greystar Real Estate Partners346
Intercapital Group336
McKinley, Inc.333
Asia Capital Real Estate Management (ACRE)332
Avila Real Estate329
Abbey Residential328
Main Street Renewal317
River Valley Communities314
Cortland Partners305
Pacifica Companies304
Harbor Group International298
Oaktree Capital297
Priderock Capital Management294
Eaton Vance293
Independence Realty Trust270
TruAmerica Multifamily268
GPI Investment262
Capital Real Estate248
FPA Multifamily247
Heers Management235
Finger Companies234
Yes! Communities228
Trinity Management228
Federal Capital Partners228
Olen Properties223
J. Milton222
Bean Investment Real Estate217

Sign up to our newsletter to receive news and updates from PESP

Click here