Rick Gregory’s New Manchester Flats and Textile Lofts are among the apartment buildings that were the subject of the lawsuit. (Mike Platania photos)
Avoiding a trial that had been set for next month, two prominent local real estate players have resolved a year-long property management legal spat.
Rick Gregory of Lynx Ventures and Duke Dodson last week settled the $2 million lawsuit Gregory brought against Dodson in late 2021, alleging that Dodson’s namesake property management firm mismanaged apartments that Gregory owned.
The settlement agreement was finalized in Richmond Circuit Court on March 11, court documents show. Terms of resolution were not disclosed.
Rick Gregory (left) and Duke Dodson
Gregory’s lawsuit alleged that Dodson Property Management had mismanaged a number of Gregory-owned apartment buildings by failing to do things like pay vendors, collect rent and security deposits and keep accurate financial reports on the apartments.
Dodson and DPM denied all of the accusations and had called for the case to be dismissed.
Gregory was seeking $2 million in damages and the lawsuit was scheduled for a mid-April trial, but it’s now been dismissed with prejudice, meaning the matter’s settled permanently.
Gregory, a former lawyer himself, has been in real estate development for nearly 30 years. He’s been particularly active in Manchester and its surrounding neighborhoods, where he had a hand in redeveloping many old buildings into hundreds of apartments. Gregory worked for years with Tom Papa before launching, in 2018, Lynx Ventures, where he’s now a principal.
Dodson also has a wealth of experience in Richmond real estate. He started DPM in 2007 and over the years built a portfolio of over 5,000 units under management, while also branching into real estate investment and development.
In 2022 he sold his property management divisions to two out-of-town firms, Alabama-based firm Evernest and Orlando-based Atrium Management Co., and since then he’s made deals to co-develop a new apartment complex in Forest Hill and purchase the former Circuit Arcade Bar building in Scott’s Addition, among other deals.
Dodson was represented in the case by attorneys Dennis Quinn and Colin Neal of Carr Maloney. Gregory was represented by Whiteford, Taylor & Preston’s Vernon Inge and Patrick Houston.
Inge said they’re glad that they were able to get the matter resolved. Dodson declined to comment when reached last week.
Rick Gregory’s New Manchester Flats and Textile Lofts are among the apartment buildings that were the subject of the lawsuit. (Mike Platania photos)
Avoiding a trial that had been set for next month, two prominent local real estate players have resolved a year-long property management legal spat.
Rick Gregory of Lynx Ventures and Duke Dodson last week settled the $2 million lawsuit Gregory brought against Dodson in late 2021, alleging that Dodson’s namesake property management firm mismanaged apartments that Gregory owned.
The settlement agreement was finalized in Richmond Circuit Court on March 11, court documents show. Terms of resolution were not disclosed.
Rick Gregory (left) and Duke Dodson
Gregory’s lawsuit alleged that Dodson Property Management had mismanaged a number of Gregory-owned apartment buildings by failing to do things like pay vendors, collect rent and security deposits and keep accurate financial reports on the apartments.
Dodson and DPM denied all of the accusations and had called for the case to be dismissed.
Gregory was seeking $2 million in damages and the lawsuit was scheduled for a mid-April trial, but it’s now been dismissed with prejudice, meaning the matter’s settled permanently.
Gregory, a former lawyer himself, has been in real estate development for nearly 30 years. He’s been particularly active in Manchester and its surrounding neighborhoods, where he had a hand in redeveloping many old buildings into hundreds of apartments. Gregory worked for years with Tom Papa before launching, in 2018, Lynx Ventures, where he’s now a principal.
Dodson also has a wealth of experience in Richmond real estate. He started DPM in 2007 and over the years built a portfolio of over 5,000 units under management, while also branching into real estate investment and development.
In 2022 he sold his property management divisions to two out-of-town firms, Alabama-based firm Evernest and Orlando-based Atrium Management Co., and since then he’s made deals to co-develop a new apartment complex in Forest Hill and purchase the former Circuit Arcade Bar building in Scott’s Addition, among other deals.
Dodson was represented in the case by attorneys Dennis Quinn and Colin Neal of Carr Maloney. Gregory was represented by Whiteford, Taylor & Preston’s Vernon Inge and Patrick Houston.
Inge said they’re glad that they were able to get the matter resolved. Dodson declined to comment when reached last week.