On July 8, 2024, the U.S. Department of the Treasury (“Treasury”) issued a Notice of Proposed Rulemaking (“NPRM”) that would expand the jurisdiction of the Committee on Foreign Investment in the United States (“CFIUS”) with respect to certain transactions by foreign persons involving real estate near certain U.S. military installations.[1] A Treasury official stated that update “vastly expands the reach of CFIUS' real estate jurisdiction.”[2] Background In 2018, Congress passed the Foreign...
