Biden Administration Proposes Expanded Security Review for Real Estate Purchases Near Military Installations

The Biden administration has proposed expanding the security review authority of CFIUS, a committee that examines foreign investments for national security risks. This expansion would include adding over 50 military installations across 30 states to its jurisdiction, emphasizing the importance of national security in real estate transactions near these sites.

The Biden administration has unveiled a proposal to significantly broaden the scope of security reviews for real estate purchases near U.S. military installations. This initiative is set to be overseen by CFIUS, the prominent committee that evaluates foreign investments for potential national security threats.

In an official statement, the Treasury Department announced that the proposed regulation would incorporate more than 50 military installations spread across 30 states. These sites would be added to the current list of locations where CFIUS holds jurisdiction, particularly concerning land acquisitions.

This move underscores the administration's focus on enhancing national security measures in the realm of real estate investments, ensuring that all transactions near critical military sites undergo stringent scrutiny.

(With inputs from agencies.)