JPMorgan Chase has reached a settlement with the Office of the Comptroller of the Currency concerning the bank's mishandling of mortgage servicing during the financial crisis. The bank has agreed to pay $48 million in fines, in addition to $2 billion paid in 2013.
W.P. Carey has acquired an 824,624-square-foot distribution facility in suburban Chicago for $48 million. Exeter Property Group is the seller of the property, which is leased to a subsidiary of J.M. Smucker.
A round of Series C financing headed by Novo Ventures has pulled in $48 million for Nevro. The Menlo Park, Calif.-based company, which focuses on a device to treat chronic back pain, will use the money to finance its product development and commercialization, CEO Michael Demane said.
The Mississippi Gaming Commission approved a proposal by entertainer Jimmy Buffett to build Margaritaville Casino & Restaurant in Biloxi. Buffett, a native of Pascagoula, Miss., plans to build a $48 million resort along Biloxi's Back Bay. The resort, which will feature a 68,000-square-foot casino, is scheduled to open in 2012.
General Growth Properties reached a $48 million settlement with Caruso Affiliated Holdings related to a California mall joint venture. Caruso had originally been awarded an $89 million judgment in the February 2004 lawsuit.