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Dan Pickard Discusses Growing Concern of Foreign Investment in Real Estate
Daniel B. Pickard, a partner in Wiley Rein’s International Trade and Election Law & Government Ethics practices, was quoted in a FedScoop article published yesterday about growing concern that foreign investors and businesses are buying real estate near U.S. military bases and training facilities.
The 2015 defense authorization bill, released yesterday by the House Armed Services Committee, has a warning that foreign investors buying up real estate with close proximity to U.S. military bases and training facilities might be trying to collect intelligence on military tactics and technology, according to the article. The concerns are supported by a 2012 report by the Committee on Foreign Investments in the United States (CFIUS), which said these types of real estate purchases first appeared in 2008.
“It’s a very real concern for counterintelligence experts and for good reason,” said Mr. Pickard.
The FedScoop story also cited a June 2013 article that Mr. Pickard co-authored with Wiley Rein senior public policy advisor Nova J. Daly and associate Usha Neelakantan. Mr. Pickard and his colleagues noted in their analysis that since 2009, CFIUS has rejected three attempts by Chinese investors to acquire interests in mining companies in Nevada near the Fallon Naval Air Station.
Read the entire FedScoop article here.