Boca Raton-based CP Group has been awarded significant financial recoveries due to unpaid rent from tenants.
The latest case involves a default judgment of nearly $3.9 million against SuttonPark Capital LLC and Singer Asset Finance Company LLC, stemming from overdue rent, legal fees, late charges, and accelerated rent payments. It highlights a broader trend of aggressive legal action by CP Group when tenants fall behind on rent payments, as seen in the previous case with tenants at Miami Tower.
The default judgment is based on a substantial lease agreement for office space at One Boca Place, where the tenants failed to pay rent between June and October 2024, despite receiving a formal default notice. With the default judgment, CP Group has secured payment for both the past-due amounts and the remaining lease balance. Given the large figures involved and the history of litigation for unpaid rent at CP Group’s properties, this case underscores the importance of tenants adhering to lease terms, as failing to do so can result in hefty penalties beyond just unpaid rent.
The legal victories CP Group has experienced could further incentivize landlords in similar situations to pursue legal recourse for unpaid rents.
Source: SFBJ
