GRMC sued for $4.4 million in back rent for Medical Arts Facility
A multi-million dollar lawsuit has been filed against the Guam Regional Medical City for failure to make lease payments on the Medical Arts Facility next door.
The claim was brought by the facility developer CW Holdings LLC, which said GRMC signed a 30-year lease for the entire second and third-floor office spaces in the building.
CW Holdings says it turned over the keys in February 2022, and GRMC made a first partial payment of $1.8 million.
However, the suit alleges that despite repeated payment notices, GRMC has failed to make any further lease payments, common area and management fees, and a security deposit.
The claim states that a notice of default was first transmitted to GRMC in July of this year.
After GRMC failed to respond, a second default notice was served in August.
CW Holdings is suing for $4.4 million in back rent and fees.
It is also claiming damages of $34.4 million in the present value of future rent.
GRMC declined to comment on the suit.