JPMorgan Chase has agreed to pay nearly $264 million in fines to settle allegations that it hired the relatives of Chinese officials in order to secure banking deals. The Securities and Exchange Commission will receive $130 million, the US Department of Justice will receive $72 million and the Federal Reserve gets $61.9 million.
RLJ Lodging Trust netted $284.8 million in a public offering of 13.8 million common shares that were priced at $21.60 per unit. Separately, the REIT announced it acquired two hotels and a planned hotel conversion in Houston for $79.5 million.
Five Oaks Investment has lowered the size of its proposed initial public offering and is expecting to raise $60 million through the sale of 4 million shares priced at $15. That will be 29% less than previously expected.
The Mexican REIT Terra has raised $772 million via a global offering. This is the second offering for a Mexican REIT in March. Fifty-three percent of the offer was sold to international investors; the remainder went to domestic buyers.