The Department of the Treasury has issued a final rule amending regulations related to foreign real estate transactions near certain U.S. military installations.
Naval Logistics Support Facility Cutler in Cutler, Maine, has been added to the list of military installations subject to these regulations.
This inclusion means that real estate transactions involving foreign persons near this facility will be subject to review by the Committee on Foreign Investment in the United States (CFIUS) for national security concerns.
The rule aims to prevent potential foreign surveillance or intelligence collection activities near sensitive military sites.
These changes are part of a broader update that includes adding, moving, and removing various military installations across the U.S. in response to national security evaluations.
The final rule will take effect on December 9, 2024, impacting future real estate transactions in the Cutler area.
Expanded CFIUS Oversight: Nationwide Impact on Real Estate Transactions Near Military Installations
The new rule extends CFIUS jurisdiction to numerous military installations across the United States, affecting real estate transactions involving foreign entities in these areas.
In Alaska, several radar sites including Barter Island, Cold Bay, Indian Mountain, Kenai, Kotzebue, Lisburne, Romanzof, Sparrevohn, and Tatalina are now under CFIUS oversight, impacting local property markets.
Key Army depots such as Anniston in Alabama, Blue Grass in Kentucky, Hawthorne in Nevada, Iowa Army Ammunition Plant, and Letterkenny in Pennsylvania are included, highlighting their strategic importance.
Marine Corps facilities in Albany, Georgia, and Barstow, California, as well as logistics bases in Jacksonville, Florida, and Blount Island, are now subject to these regulations, affecting nearby real estate.
Naval facilities in Corpus Christi, Texas, Ketchikan, Alaska, LaMoure, North Dakota, and Aguada, Puerto Rico, are added, impacting property transactions in these regions.
Air Force bases such as Altus in Oklahoma, Arnold in Tennessee, Barksdale in Louisiana, and Cannon in New Mexico are included, affecting real estate dealings.
Joint bases like Cape Cod in Massachusetts, Charleston in South Carolina, and San Antonio in Texas are now under CFIUS jurisdiction, impacting local property markets.
The inclusion of installations like Redstone Arsenal in Alabama and Schriever Air Force Base in Colorado underscores the national security focus of these changes.