U.S. Treasury Expands Security Reviews for Foreign Real Estate Near Military Bases

The U.S. Treasury has announced an expansion of its security review authority over foreign real estate purchases near military bases, adding 56 facilities across 30 states. This move broadens the jurisdiction of CFIUS to 227 military installations, aimed at mitigating national security risks posed by foreign acquisitions.

The U.S. Treasury has significantly expanded its authority to review foreign real estate purchases near American military bases, adding 56 facilities across 30 states to its purview.

According to a Treasury official, the proposed rule will increase the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS) to oversee approximately 227 military installations. This comes just two months after a CFIUS review required a Chinese-linked company to divest property near a U.S. Air Force Base in Wyoming.

National security concerns have driven the U.S. to scrutinize foreign property acquisitions more closely. A 2018 law already allows CFIUS to review specific non-controlling foreign investments in U.S. real estate. The new rule will extend CFIUS' authority to land deals within one mile of 40 additional military sites and within 100 miles of 19 more installations. This update represents the largest expansion of CFIUS' review since the 2018 legislation.

(With inputs from agencies.)