Overview
An acknowledged leader in Delaware real estate law, Robert Krapf “knows how to get deals done” (Chambers USA).
“Extremely knowledgeable” and “exceedingly experienced” (Chambers USA), Mr. Krapf focuses his practice on a variety of transactional matters in the areas of real estate, commercial, and land use law. His clients include many of the regional and national developers, landlords, banks, and other lenders, conservation organizations, institutions, businesses, and industries operating in Delaware.
An active member of the bar and numerous other professional organizations, Mr. Krapf has held many local and national leadership positions. He is a frequent speaker on topics of real estate, land use, and business law, and has published educational materials and articles about real estate law and land use regulation. Mr. Krapf has served as a member and officer of the boards of many local, regional, and international business, charitable, and cultural organizations.
PRACTICES
Select Experience
- International real estate development company: Through multi-tiered ground leasing, financing, and equity, development of first significant shopping center in the City of Wilmington in over a decade.
- Regional insurer: For client who needed to relocate its corporate headquarters, helped craft tax incentives for the client to maintain high-quality jobs for the community; allowing the client to use these tax savings to balance the community’s higher rental costs and remain in its community.
- Multistate developer: Created multiple condominium projects for master-planned resort community of over 1,000 units.
- Regional developer: Developed major regional retail center from acquisition through rezoning, construction, and leasing.
- Large regional bank: Mezzanine loan for the acquisition of one of Wilmington’s largest office buildings.
- International industry: Acquisition of only petroleum refinery located in Delaware.
- Widener University School of Law, J.D., cum laude, 1983
- University of Delaware, M.A., History, 1975
- Georgetown University, B.S.F.S., School of Foreign Service, 1973
Education
Publications
Reliance Parties to Third-Party Opinion Letters in Commercial Real Estate Finance Transactions
ACREL News & Notes | April 2021
An opinion letter in a commercial real estate finance transaction will generally be addressed to the opinion recipient, usually one or more lenders in the transaction. Except if expressly stated otherwise in the opinion letter, the only person entitled to rely on the opinion is the opinion recipient identified in the opinion letter, usually the addressee.…
Rights To Tenant Property Upon Termination Of A Commercial Lease
Delaware Law Review | 2021
What follows is a discussion of landlord and tenant rights under Delaware law regarding improvements, trade fixtures, equipment, and other personal property at leased premises upon termination of a commercial lease. In particular, this article addresses how the law deals differently with property in the leased premises that is defined as improvements or fixtures, in contrast…
Delaware Law Review | 2021
One of the pleasures of practicing real estate law in Delaware is the comparative absence of statutory preemptions of the common law and the relative scarcity of case law. This can spur one’s historic interests in delving into the common law that Delaware has preserved from its colonial origins. The flipside of this, of course, is…
Delaware Commercial Real Estate Finance Law and Practice
Fastcase, Incorporated | September 2020
Delaware Commercial Real Estate Finance Law and Practice is an indispensable guide to the transactional aspects of commercial real estate financing law in Delaware. The first single-volume publication of its kind, this fundamental reference text focuses on the broad range of topics, from choice of entity to opinions. Delaware Commercial Real Estate Finance Law and Practice…
Opinions Matters | Spring 2020
Lawyers are often asked to provide Uniform Commercial Code (U.C.C.) perfection opinions in commercial real estate finance transactions. These opinions have been addressed in detail in the recent report, “Uniform Commercial Code Opinions in Real Estate Finance Transactions,” prepared by a Joint Drafting Committee of the ABA Section of Real Property, Trust and Estate Law Committee…
Liquidated Damages in Delaware Real Estate Purchase and Sale Agreements
The Practical Real Estate Lawyer | September 2019
Most contracts for the purchase and sale of commercial real property include among the remedies for breach a provision for the seller to receive or retain the contract deposit as liquidated damages for the purchaser’s breach. At times, the contract will also provide for other remedies, whether damages or equitable relief (e.g., specific performance), in addition…
Changes to the Delaware Limited Liability Company Act Affecting Commercial Real Estate Lending
The Abstract | Spring 2019
On July 23, 2018, Delaware GovernorJohn Carney signed into law Senate BillNo. 183, which amends the DelawareLimited Liability Company Act (the“DLLCA”). The legislation addresses anumber of aspects of a Delaware limitedliability company (a “DelawareLLC”); however, the amendments mostaffecting commercial real estate lendingare the creation of a new type ofDelaware series limited liability companiesknown as a “registered…
Special Delaware Bankruptcy Remote Opinions
Opinions Matters | Spring 2019
Delaware Third-Party Legal Opinions On Remedies In Real Estate Financing Transactions: A Primer
Delaware Law Review | 2018
This article is intended as a primer for Delaware lawyers who render third-party legal opinions in real estate finance transactions and for use by lawyers who represent clients receiving third-party legal opinions from Delaware counsel in a financing transaction secured by real estate located in the State of Delaware. This article was informed by various reports…
The Delaware Rapid Arbitration Act: Considerations for Commercial Real Estate Finance
The Abstract | Fall 2017
On April 2, 2015, Delaware GovernorJack Markell signed into law theDelaware Rapid Arbitration Act (“Act”).This Act allows for alternative disputeresolution consistent with arbitration’sorigins as a rapid and efficient meansof resolving disputes. The Act respondsto growing complaints by Delaware’scompanies about the incrustation ofcosts and delays onto non-judicialdispute resolution. The Act is theproduct of the collaboration ofpractitioners in…
Office Tenant’s Pre-Signing Checklist
Practical Law | 2017
This Checklist outlines issues a tenant shouldconsider before signing its office lease. ThisChecklist also provides useful information for atenant negotiating its office lease. This Checklistdoes not address relevant state and local law.State and local laws may require additionalmatters to be considered by the tenant before itfinalizes its lease, but the information containedin this resource is useful…
Delaware Purchase and Sale Issues for Buyers
The Practical Real Estate Lawyer | November 2016
Delaware courts traditionally afford parties broad and deferential freedom of contract. In Delaware, a commercial real estate purchase and sale agreement (referred to herein as a “PSA”) is no exception—buyers and sellers are free to arrange PSAs in a wide variety of forms. Still, Delaware custom and law provide important limitations and guidance that an attorney should…
The Delaware Rapid Arbitration Act: Four Elements for a Better Arbitration
ABA eReport | May 2016
On April 2, 2015, Delaware Governor Jack Markell signed into law the DelawareRapid Arbitration Act (“Act”). This Act allows for alternative dispute resolutionconsistent with arbitration’s origins as a rapid and efficient means of resolving disputes.The Act responds to growing complaints by Delaware’s companies about theincrustation of costs and delays onto non-judicial dispute resolution. The Act is…
An Overview of the Real Estate Finance Opinion Report of 2012
Delaware Law Review | 2014
Many state bars and other professional groups have provided reports on opinion practices, both general and specific. Although the Delaware State Bar Association has not yet produced such a report, a recent report by three national lawyer associations should be of interest to lawyers in Delaware who issue opinions in Delaware real estate transactions. The Real…
- “Critical Issues in Multistate Real Estate Finance,” Practical Law, November 2014
- “Multistate Commercial Real Estate Finance: An Overview,” Practical Law, 2014
- “Developers and the Interstate Land Sales Full Disclosure Act, E-Commerce Social Media,” Abstracts, American College of Mortgage Attorneys, Fall 2013
- “Real Estate Finance Report of 2012,” Real Property, Trust and Estate Law Journal, Vol. 47, No. 2, Fall 2012
- “Tenant’s Pre-Signing Flowchart,” Practical Law, June 2011
- “Voluntary Good Practices Guidance for Lawyers: Our Role in the Fight Against Crime and Terrorism,” Abstracts, American College of Mortgage Attorneys, 2011
- “Delaware Construction and Design Law,” in C. J. Circo, et al., eds., A State-by-State Guide to Construction & Design Law: Current Statutes and Practice, American Bar Association, 2008
Leadership
- Delaware State Bar Association
- Executive Committee, 2007-2009, 2010-2014
- Committee on Judicial Compensation, 2004
- Real and Personal Property Section, Chair, 1990-1992
- Section 2118 Subcommittee (principal drafter of revisions to future advances priority legislation)
- Condominium Act Subcommittee (a principal drafter of Delaware Uniform Common Interest Ownership Act)
- Commercial Landlord-Tenant Subcommittee (participant in review and redraft of Landlord-Tenant Code of 1996)
- Ad Hoc Committee on Attorney Accounts and Unauthorized Practice
- Ad Hoc Committee on Delaware Uniform Common Interest Ownership Act
- American Bar Association
- Real Property, Trust and Estate Law Section, Chair, 2015-2016; Chair-Elect, 2014-2015
- Real Property Division Vice Chair, 2012-2014
- Real Property Division Council, 2009-2012; Assistant Secretary, 2004-2005
- Advisor to NCCUSL Drafting Committee on Amendments to Uniform Limited Liability Company Act, 2003-present
- Committee on Groups and Committees, Past Co-Chair, 2005-2008
- Real Property Division Special Investors Group, Past Chair
- Land Use Regulation Committee, Past Chair
- RP Division CLE Committee, Past Chair, 2003-2005
- Partnerships and Limited Liability Companies Committee, Past Vice Chair, 2002-2005
- Planning Committee, 2008-present; Chair, 2014-2015
- Corporate Sponsorship Committee, Co-Vice Chair, 2010-2012
- State and Local Government Law Section Zoning Committee
- Business Law Section Partnerships Committee
- Construction Law Forum
- American College of Mortgage Attorneys, Fellow
- President, 2009-2010; President-Elect, 2008-2009
- Treasurer, 2007-2008
- Secretary, 2006-2007
- Regent, 2000-2006
- State Chairs Committee, Past Chair
- Legislation Committee, Past Chair
- Past Representative to Association Advisory Board of the Working Group on Legal Opinions
- Liaison to Joint Editorial Board for Uniform Property Acts, NCCUSL, 2002-2005
- Opinions Committee
- Capital Markets Committee
- Financial Restructuring and Remedies Committee
- American College of Real Estate Lawyers, Fellow
- Equity Investment Structures Committee, Member; Chair, 2011-2012
- Land Use Committee
- Opinions Committee
- Lex Mundi
- Real Estate Practice Group, Chair Emeritus, 2007-2009; Chair, 2005-2007; Regional Vice Chair (North America), 2003-2005
- Other Professional Activities
- The American University of Rome, Board of Trustees Chair, 2020; Trustee, 2003-present; Secretary, 2007-2017; Presidential Search Committee Chair, 2005-2006
- Delaware Law Review, Editorial Board, 2005-2013
- Practical Law Company, PLC Law Department Panel for Real Estate, 2009-present
- Community Activities
- Wilmington Leaders Alliance, Board Member, 2016-2018
- Delaware Business Roundtable, 2015-2016
- Delaware Art Museum, Trustee, 2010-2013
- Delaware Center for Horticulture, Board Member, 2003-2005
- Committee of 100, Board Member, 1998-2004
- Martin Luther Foundation, Wilmington, DE, Past Chair
- Lutheran Community Services, Inc., Wilmington, DE, Past President
- Delaware Center for the Contemporary Arts, President, 1996-2000, Board of Trustees, 1994-2000
- Council of Delaware Humanities Forum, Vice Chair, 1996-1999
- Lincoln Club of Delaware, President, 1998
- Lutheran Senior Services Admission Board, 1997-1999
- Committee of 100, Land Use and the Environment Committee
Pro Bono Activities
- Eastside Rising: revitalization of distressed part of local community, 2014-present
- Court-appointed receiver for the law practice of a disbarred Delaware lawyer, 1999-present
- Lutheran Community Services, merger with Faith Center, 2008
- Delaware Center for the Contemporary Arts, acquisition and construction of new arts facility in Wilmington, 2000
Recognition
- American Bar Foundation, Fellow since 2010
- Chambers USA, since 2003, Band 1
- The Best Lawyers in America, since 1993
- Best Lawyers’ Wilmington, DE Real Estate Lawyer of the Year, 2015, 2011, 2009
- Delaware Today Top Lawyer, Real Estate, 2020, 2019, 2018, 2017, 2016, 2015, 2010, 2008, 2001, 1999, 1996
- Super Lawyers, since 2007
- Who’s Who Legal, since 2004
- Exemplary Pro Bono Public Services Award, Delaware Supreme Court, 2006
- President’s Citation, Delaware State Bar Association, 2000
Bar Admissions
- Delaware, 1983