Greystar Real Estate Partners, the largest U.S. apartment manager, reached a proposed settlement with the Department of Justice aimed at ending its alleged role in a nationwide scheme to inflate rents through algorithmic pricing tools. Under the deal, Greystar would be barred from using software that bases rental prices on competitors’ confidential data, prohibited from sharing such data itself and required to cooperate in the government’s separate lawsuit against software provider RealPage Inc. The consent decree, filed Friday in federal court, also allows for a court-appointed monitor should Greystar adopt any third-party pricing algorithm not certified under the settlement terms. The agreement is subject to judicial approval. Greystar simultaneously reached an accord in principle with private plaintiffs who represent renters, providing what the lawyers called “significant” monetary relief and business reforms; dollar amounts will be disclosed when the pact is presented to the court as early as October. Greystar denied wrongdoing, saying the arrangements give it and the industry greater clarity while it focuses on operations.