In the Headlines
July 24, 2024
3 Takeaways on CFIUS' Bid to Expand Real Estate Coverage
Law360
International Trade attorney Robert Friedman was quoted in a Law360 article about the Committee on Foreign Investment in the United States' (CFIUS) plan to expand its jurisdiction over real estate transactions near military sites. A new proposed rule aims to add 59 more military installations to the list of sites where CFIUS would have the authority to review deals within a certain proximity. Mr. Friedman emphasized the importance of thorough due diligence in cross-border transactions and noted that CFIUS is not the only governmental body scrutinizing foreign investment in U.S. land.
"There's a lot of interest amongst state and local lawmakers when it comes to land ownership, as well, from foreign persons. You've got interest at the federal level, interest at the state level and just at the local level, which is resulting in far more scrutiny of these transactions," he said.
READ: 3 Takeaways on CFIUS' Bid to Expand Real Estate Coverage (Subscription required)
"There's a lot of interest amongst state and local lawmakers when it comes to land ownership, as well, from foreign persons. You've got interest at the federal level, interest at the state level and just at the local level, which is resulting in far more scrutiny of these transactions," he said.
READ: 3 Takeaways on CFIUS' Bid to Expand Real Estate Coverage (Subscription required)