This certified class action – we believe the first ever certified class action bringing claims under Colorado’s warranty of habitability law – was filed in District Court for City and County of Denver against Cardinal Group Management & Advisory, LLC (Cardinal Group) and Glendale Properties I & Glendale Properties II (Mint Urban Infinity or MUI). The lawsuit alleges that the Defendants operated the 561-unit MUI apartment complex in a dilapidated and untenable condition in violation of Colorado’s Warranty of Habitability statute and their contractual obligations to maintain the property with customary diligence. Among other things, the suit seeks an award of damages for over 2,000 former tenants against Cardinal Group and MUI for an abatement of rent – essentially a refund – for amounts paid that exceed the actual rental value of the MUI apartments given their condition during a nearly 4-year period. The case is scheduled for a jury trial in March of 2025.

Cardinal Group owns and manages more than 35,000 residential dwelling units in 37 states, including roughly 3,000 units across 14 multi-unit residential properties in Colorado, while the entities that owned MUI during this period appear to have been subsidiaries of Mapletree, a $77-billion international investment outfit.