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Wesley Smith

Partner, Real Estate Practice at Kirkland & Ellis LLP

Dallas, Texas

WS
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Why they matter

Structures the debt stack behind hyperscale data center construction financings — a lawyer who bridges power-contract structuring and CMBS capital markets.

Background

Wesley "Wes" Smith is a real estate finance partner in Kirkland & Ellis's Dallas office, joining in July 2026 from Willkie Farr & Gallagher (where he landed in March 2025 from Akin Gump). He represents institutional investors, borrowers, and lenders on real estate debt and equity transactions, with a concentrated focus on data center and digital infrastructure construction financing, and served nine years active duty in the U.S. Army, including as a Ranger with the 75th Ranger Regiment.

Notable deals

  • 2023
    Part of the Akin Gump team (led by John Bain, with Smith as real estate counsel) that advised Preylock Holdings as borrower on a $1.2 billion CMBS financing secured by 12 Amazon-leased distribution warehouses (8.9M sq ft) across 10 states
  • 2025
    Joined Willkie Farr & Gallagher as a real estate partner in its newly launched Dallas office, bringing an institutional-lender/borrower financing practice focused on digital infrastructure
  • 2026
    Co-authored "Structuring Financeable Data Centres" in the PFI Yearbook, addressing how real estate, power-contract, and intercreditor structuring converge in data center project finance
  • 2026
    Joined Kirkland & Ellis as a partner in the Real Estate Practice Group to expand the firm's data center and digital infrastructure financing platform

Call-prep brief

Background

  • Real estate finance partner in Kirkland & Ellis's Dallas office (joined July 2026)
  • Two lateral moves in under 18 months — Akin Gump → Willkie Farr & Gallagher (Mar 2025) → Kirkland & Ellis (Jul 2026) — tracking the data center financing boom to larger platforms
  • Nine years active-duty U.S. Army, including service as a Ranger, 75th Ranger Regiment (Staff Sergeant)
  • J.D., Washington and Lee (2015); B.S., SMU (2002)

Current Focus

  • Originates and restructures mortgage, mezzanine, construction, and bridge financing for institutional investors, borrowers, and lenders
  • Deep specialization in build-to-suit data center construction financing and hybrid capital (debt + equity) structures
  • Also active in industrial/logistics, self-storage, hospitality, and multifamily debt

What He Cares About

  • Positioning his practice at the center of the AI-driven data center capital boom
  • Structuring intercreditor/collateral arrangements where power and utility interests intersect with real estate collateral (subject of his Jan 2026 PFI article)

Recent Moves

  • Joined Kirkland (Jul 2026) to help build the firm's Real Assets platform
  • Was on the Akin Gump team for Preylock Holdings' $1.2B CMBS refinancing of an Amazon-leased warehouse portfolio (2023)

Sensitivities

  • Two firm jumps since March 2025 — go easy on non-compete/book-of-business questions
  • Most client relationships are institutional and likely confidential

Questions to Ask

  1. Which capital providers are actually underwriting new-build data center construction risk today, and at what leverage?
  2. How are intercreditor/collateral structures evolving now that power contracts, not just the building, are the scarce asset?
  3. What's pulling data center financing mandates toward full-service platforms like Kirkland versus boutique real estate shops?

Outreach draft

Subject
Data Center Financing Structures — Quick Call?
Hi Wes, Congratulations on joining Kirkland's Real Assets platform — your move from Willkie tracks the data center financing surge we're watching closely. We're a private equity team evaluating construction and hybrid capital structures for build-to-suit data center and colocation assets, and your work on the Preylock CMBS financing and your recent piece on structuring financeable data centres caught our attention. Would you have 20 minutes in the next couple of weeks to talk through how intercreditor and power-contract structuring is evolving on the lender side? Happy to work around your schedule. Best, [Your Name]

Linked companies

Sources