Troubled multifamily investor Jon Venetos and his firm, Lurin Capital, are facing increased legal pressure after Keybank filed two lawsuits alleging default on $24 million in loans. The lawsuits, submitted to Dallas County District Court, seek the appointment of an emergency receiver for two Dallas properties: Villa Del Tesoro at 7802 Villa Cliff Drive and 46 Eleven at 4611 Samuell Boulevard.
According to Keybank’s filings, Venetos defaulted on a $16.85 million loan for the 229-unit Villas Del Tesoro and a $7.15 million loan for the 79-unit 46 Eleven property. The bank states that these loans were refinanced in October 2024 and personally guaranteed by Venetos.
Keybank claims that Venetos stopped making monthly interest payments in June and did not pay off the loans when they matured in October. Additionally, he allegedly failed to pay property taxes and insurance, allowing liens to be placed against both properties. The lender also asserts that Venetos transferred $24,570 from his Keybank accounts to a personal account.
Inspections conducted in October 2025 found multiple units out of service at each property along with deferred repairs and mold issues, according to the bank’s court filing. “Leaving the properties in Venetos’ control ‘threatens to accelerate the deterioration’ of the assets,” Keybank stated.
These latest lawsuits add to a series of recent legal actions from various lenders against Venetos and Lurin Capital over alleged loan defaults across Texas and Florida. In April, Acore accused Venetos of defaulting on nearly $400 million in loans tied to properties in both states and began auctioning off some Florida assets. Acore is seeking an $81 million judgment against him.
Over the past three months, additional suits have been filed by Select Securities Europe—alleging default on 15 loans totaling $40.5 million—as well as Fannie Mae over a $77.2 million loan linked to a Houston apartment complex. Vista Bank also sued Venetos regarding a personally guaranteed $10.3 million loan used for purchasing a Fort Worth apartment complex; Vista alleges there is still an outstanding balance of $3 million.
Vista Bank’s lawsuit includes accusations of fraud: “attempting to obtain credit at another financial institution using false, altered, or fraudulent account statements of Vista.”
Lurin Capital was also subject to a temporary restraining order requiring residents at one Plano property owned by Lurin to vacate due to unsafe living conditions such as lack of water, sewer access or gas.
The ongoing legal challenges highlight mounting difficulties for Venetos and his company amid continued scrutiny from creditors.
