Krystyna M. Blakeslee

Partner

New York
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019-6099
T 212 728 8206
F 212 728 8111
kblakesleewillkie.com

Krystyna M. Blakeslee is a partner in the Real Estate Department and Chair of the Real Estate Finance practice group, where she focuses on commercial real estate finance and investment. She has particular concentrations in the origination, acquisition and disposition (including securitization and syndication) of mortgage loans, mezzanine financings and subordinate debt, post-closing modifications, and loan sales and purchases.

Krystyna has experience with data centers, retail, office, hospitality, assisted living/nursing care and condominium properties, as well as construction financing, TIC structures and ground lease transactions. She is also experienced in handling joint venture investments and acquisitions of real estate assets, including hotels, and advises funds in connection with their investment and financing activities in real estate.

Additionally, Krystyna has experience in restructuring and workout of complex distressed-debt structures. She has represented a number of investment banks, life insurance companies, commercial banks, institutional investors, loan servicers, joint ventures, and private equity funds.

Krystyna is recognized as a leading practitioner in real estate by The Legal 500 (U.S.) (2020), which cited her as a “standout.” In 2018, she was recognized as a “Working Mother of the Year” in the October/November issue of Working Mother.

Krystyna previously served as a sergeant in the U.S. Marine Corps and also served in Iraq.

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Krystyna M. Blakeslee is a partner in the Real Estate Department and Chair of the Real Estate Finance practice group, where she focuses on commercial real estate finance and investment. She has particular concentrations in the origination, acquisition and disposition (including securitization and syndication) of mortgage loans, mezzanine financings and subordinate debt, post-closing modifications, and loan sales and purchases.

Selected Significant Matters

Lender Representations

  • Represented lenders in connection with a $2.35 billion mortgage loan secured by over 64 cold storage properties.
  • Represented lenders in connection with a $715 million mortgage loan secured by over 350 commercial properties.
  • Represented the lenders in connection with the origination and securitization of a mortgage loan in the amount of $1.35 billion secured by over thirty retail properties located in the United States and Puerto Rico.
  • Represented the lenders in connection with the origination and disposition (including securitization and syndication) of three mortgage loans and four mezzanine loans in the aggregate amount of $2.9 billion secured by over 280 industrial warehouse properties located in 17 states and the District of Columbia
  • Represented the lender in connection with the origination and the securitization of a mortgage loan and four mezzanine loans in the aggregate amount of $1.1 billion secured by 24 limited service, select service and extended stay hotel properties located in 13 states.
  • Represented the lenders in connection with the origination and securitization of 2 mortgage loans and 2 mezzanine loans in the aggregate amount of $1.7 billion secured by 98 limited and select service hotels located in 19 states.
  • Represented lenders in connection with origination and securitization of mortgage loans secured by hotels located in Aruba and the Grand Cayman Islands.
  • Represented a financial services company with respect to two $200 million mezzanine loan acquisition platforms with an unrelated third party and a loan origination platform with an unrelated third party.

Equity Representations

  • Represented a joint venture fund in connection with its acquisition of a portfolio of 6 hotels located throughout the continental U.S.
  • Represented a fund in connection with its acquisition of a $220 million data center property located in Virginia.
  • Represented a foreign wealth fund with respect to its acquisition of an approximately $1.5 billion portfolio of resort properties out of chapter 11 bankruptcy.
  • Represented a fund in connection with a $275 million mortgage and mezzanine loan obtained by various subsidiaries and secured by a portfolio of 62 hotels located throughout the U.S.

Distressed Debt Representations

  • Represented various lenders in connection with the restructure of over a $1 billion worth of mortgage loans secured by a variety of asset classes (including hotels and resorts) during the COVID-19 pandemic, including amendments related to PPP loans.
  • Represented the lender with respect to providing exit financing for a bankrupt debtor.
  • Represented a foreign wealth fund with respect to its acquisition of an approximately $1.5 billion portfolio of resort properties out of chapter 11 bankruptcy.
  • Represented the mezzanine lender in connection with the restructure (including conversion of a portion of each mezzanine lenders’ debt to preferred equity) of an approximately $1.9 billion portfolio of hotels located throughout the US.
  • Represented the mezzanine lender in connection with a foreclosure of the mezzanine lender’s UCC collateral, which was secured indirectly by an iconic building in New York City.
  • Represented various CMBS special servicers in connection with a myriad of matters, including foreclosures, modifications, forbearance agreements and restructures.

 

* Ms. Blakeslee advised on these matters prior to joining Willkie

Prior Experience

Prior to joining Willkie in 2020, Krystyna was a partner at Dechert LLP. She also previously served as law clerk for the Honorable Alan H. W. Shiff of the United States Bankruptcy Court, District of Connecticut.

Selected Professional and Business Activities

Krystyna sits on the editorial board of the CRE Finance Council and is co-managing editor for CREFC Finance World™. She is also co-chair of the CREFC Finance Counsel’s working group on High Volatility Commercial Real Estate loans.

Krystyna is a member of the American, New York and Connecticut Bar Associations.

Selected Publications and Lectures

  • Roundtable Discussion - Don’t Give Back Your Keys Just Yet - iGlobal Forum's 10th Real Estate Mezzanine Financing Summit, Virtual Conference (July 8, 2020)
  • Exploring the Evolving Regulatory Landscape Affecting North American Real Estate - iGlobal Forum's 21st Real Estate Private Equity Summit, New York, NY (March 11, 2020)
  • HVCRE/HVADC - The Letters Changing Commercial Real Estate Forever - iGlobal Forum's 8th Real Estate Mezzanine Financing Summit, New York, NY (June 7, 2018)