Some Senators Have National Security Concerns on Foreign Property Investors
Increasingly, sovereign funds, pensions, family offices, state-owned conglomerates, insurance companies and high-net worth individuals from abroad are gradually spending more money into U.S. real estate. Wealth funds have ramped up operations, having invested in properties such as Hudson Yards, the Empire State Building (indirectly) and the Chrysler Tower.
The China Investment Corporation (CIC) officially opened its New York office, aiming to partake in more real estate, and possibly infrastructure investments. There is also the deluge of capital from EB-5 money into American real estate and developments, with NPR sourcing that 80% of EB-5 recipients are Chinese. Many overseas institutional investors choose real estate as an investment as it is deemed less-politically risk versus buying a controlling stake in a technology company.
U.S. Senators Poke at CFIUS Regarding Real Estate Capabilities
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