Perez of the Related Group, which has 10 condo towers under construction in South Florida, said the Treasury Department should find a way to make sure buyers “tell the truth about where their money is coming from” without forcing them to make a public disclosure.
“Remember, in their countries, they are afraid of being kidnapped, they are afraid of being killed, so privacy is a huge thing,” Perez said. “They don’t want the press to say in Colombia, ‘This guy buys $20 million condos.”’