Lurin Capital Files For Chapter 11 Bankruptcy Protection

25 March 2026

Fitzroy Grove in Arkansas is now the fourth property Lurin Capital is trying to save with a bankruptcy filing.

Jon Venetos’ struggling Dallas-based multifamily firm filed for Chapter 11 bankruptcy protection to maintain control of the Rogers, Arkansas property that’s at the center of a recent default lawsuit against Lurin.

Lurin initiated bankruptcy proceedings for Fitzroy Grove, at 2950 Fitzroy Place in Rogers, Arkansas, according to a filing on Friday in U.S. Bankruptcy Court for the Southern District of Texas.

Lurin claimed to have 50 to 99 creditors, $10 million to $50 million in estimated liabilities and $50 million to $100 million in assets, according to the bankruptcy filing. Mark Shapiro signed for Lurin Capital on the filing in his capacity as “chief restructuring officer.”

The firm listed its office at Rosewood Court, an Uptown Dallas office building at 2101 Cedar Springs. Landlord Rosewood Property Company claimed in a Dec. 11 lawsuit that Lurin bailed on its lease last fall. It also alleged Venetos personally guaranteed the lease and owes the landlord $5.3 million.

The latest filing comes amid a legal fight between Lurin Capital and its lender Prime Finance Partners regarding the loan attached to the Arkansas property.

The San Francisco-based lender accused Lurin of defaulting on a $47 million loan tied to the property and alleges it is owed $47.8 million. Prime Finance requested a receiver for the property in a Feb. 18 filing.

It’s Lurin’s fourth bankruptcy filing this month.

The firm filed for bankruptcy protection for Latitude 2976, at 201 and 301 Wilcrest Drive in Houston on March 2; and both the Emory Apartments, at 3205 East Olive Road in Pensacola, Florida, and the Aria Apartments, at 1861 Stella Lane in Fort Walton Beach, Florida on March 5. The three prior cases were also filed in U.S. Bankruptcy Court for the Southern District of Texas.

Fannie Mae has been trying to seize control of the 734-unit Latitude 2976 since claiming Lurin Capital defaulted on the $77.2 million mortgage tied to the Houston property in a November lawsuit. Both the Emory and the Aria are in receivership, after lender Keybank sued Lurin Capital to foreclose on the properties in December. Keybank claims Lurin defaulted on the $25.6 million loan tied to the Emory and the $17.5 million loan tied to the Aria.

The Fitzroy Grove bankruptcy filing is the latest installment in the saga of Lurin’s collapse, which began in April with Acore Capital Mortgage’s suit against the firm, claiming Lurin defaulted on nearly $400 million in loans tied to 12 properties in Florida. Since then, Fannie Mae sued Venetos and Lurin over the alleged $77.2 million default of the loan tied to Latitude 2976. Vista Bank and Keybank also filed lawsuits claiming defaults. In a series of October lawsuits, Acore claimed that Venetos personally guaranteed the money he borrowed from the lender and still owes $81 million.

The lawsuits by Keybank and Vista include claims of fraud. Keybank alleged Venetos transferred $24,570 from his accounts with the bank to a personal account. Vista accused him of falsifying account statements from the lender in an attempt to take out loans elsewhere. Former employees have also come out to accuse Lurin of lying on loan reimbursement requests to lenders by inflating costs of repairs and submitting invoices for work that wasn’t done.

Local municipalities, including cities in Florida, Texas and Alabama, have gotten involved when the conditions at Lurin-owned properties allegedly posed safety risks to renters. Tenants reported having no water service and enduring Texas summers without air conditioning.

Meanwhile, Venetos has fled Dallas to Aspen, where his family bought a 5,000-square-foot mansion on 7.6 acres for $18 million in 2022, deed records show. Morgan Stanley has since foreclosed on the property, according to a lawsuit filed in New York Supreme Court.