Debora E. Ramirez

Direct: 505.848.1873
Main: 505.848.1800
Fax: 505.848.9710
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Debora (Debbie) E. Ramirez advises clients in connection with general business and governance matters, real estate transactions, renewable and traditional energy transactions, securities law issues and state and local tax matters. Her experience ranges from representing individuals in start-up ventures to representing multinational corporations in complex financing, real estate and other transactions. Her clients include technology entrepreneurs, real estate developers and investors, traditional and renewable energy companies and banks and other financial institutions. She also advises nonprofit and tax-exempt organizations.

In 2016, Chambers USA Directories of America's Leading Lawyers for Business called her an "Up and Coming" attorney in Real Estate, recognizing she "has substantial experience in commercial and residential financing, as well as title review and energy-related matters. One client notes: ‘Debbie is great to work with and has always made me feel better about my worries.'"

Prior to joining Modrall Sperling, Debbie practiced law for ten years in Texas and three years in New Mexico. While in Texas, she practiced with the law firm of Vinson & Elkins LLP in Houston and Austin and with the law firm of Graves, Dougherty, Hearon & Moody, P.C. in Austin. Before attending law school, Debbie spent several years in corporate finance at a global energy company in Houston, Texas, where she worked on equity and debt offerings and other capital transactions, financial risk management and asset and stock acquisitions and divestitures.

Debbie received her law degree cum laude from the University of Houston Law Center. She received her Master's in Business Administration from the University of Houston and her undergraduate degree with honors in Accounting and Management Information Systems from The University of Texas at Austin.

Debbie is active in the Santa Fe and Albuquerque communities, serving on the Board of Directors of WESST (the place to start and grow your business), the Board of Directors of Animal Humane New Mexico, and the Business Advisory Council of the Santa Fe Business Incubator. In her spare time, Debbie enjoys hiking the mountains of New Mexico and backpacking in the backcountry of the western United States.


  • University of Houston Law Center, J.D., 1999, cum laude
  • University of Houston, M.B.A. with a concentration in Finance, 1995
  • University of Texas, B.B.A. in Accounting and Management Information Systems, 1987, with honors

Bar Admissions

  • New Mexico
  • Texas
  • U.S. District Court for the District of New Mexico

Practice Areas


Financing Transactions

  • Represented a regional bank in a $35 million loan for the acquisition and renovation of a world class hotel and spa in Santa Fe, New Mexico.  The transaction included a loan participation and interest rate swap transaction.
  • Represented a regional bank in financing the construction of an affordable multifamily community in Gallup, New Mexico.  The transaction included traditional construction financing, a USDA guarantee and funding from the Navajo Nation.
  • Represented a Texas bank in a transaction involving a traditional construction loan, tax-exempt bond financing and low income housing tax credits for the acquisition and rehabilitation of six multifamily communities in Dona Ana County, New Mexico.
  • Represent a regional bank in connection with loans for acquisition and construction of retail shopping centers.
  • Serve as local counsel in connection with review of loan documents for compliance with New Mexico law and delivery of real estate financing opinions, including lender and borrower representation, involving real estate, oil and gas and other mineral interests, rights to payment and other collateral.
  • Represent lenders in workouts and foreclosure proceedings involving mixed-use developments, apartment communities, condominium developments and other assets.
  • Represented the receiver in foreclosure proceedings involving a hotel property in Santa Fe, New Mexico.

Real Estate

  • Represent a Texas-based real estate investment fund in the acquisition and sale of residential lots and undeveloped parcels in a luxury development located in Santa Fe County, New Mexico.
  • Represent a non-profit residential mortgage lender in connection with loan documentation, compliance matters and foreclosures.
  • Represent a condominium developer in sales, financings and leasing of commercial and residential condominium units.
  • Represented a national property management company in the establishment of a condominium community involving a previously-abandoned mid-rise property in downtown Albuquerque, New Mexico.

Corporate and Securities

  • Assist clients with choice of entity decisions and preparation of entity documents, including corporations, limited liability companies, partnerships and non-profit corporations.
  • Negotiate shareholder agreements, operating agreements and partnership agreements.
  • Advise companies in compliance with state and federal securities laws in the issuance of equity and debt securities.
  • Regularly represent business owners in acquisition and sale transactions involving assets, stock or other equity interests.

Renewable Energy

  • Advise renewable energy project developers in connection with New Mexico state tax matters, including available tax incentives.
  • Advise renewable energy companies in connection with real estate matters, including navigating subdivision regulations and other local laws.
  • Represented a solar energy company in negotiating a joint venture with a foreign company for the development of several large solar projects to be located in New Mexico.

State and Local Tax

  • Advised a national utility services company in connection with New Mexico state and local tax statutes and regulations applicable to owning and operating electricity infrastructure located on federal land.
  • Advised a national employee leasing company regarding New Mexico gross receipts taxes and applicable exemptions and deductions.


Professional Activities

  • Fellow, American College of Mortgage Attorneys
  • State Bar of New Mexico, member of Business Law section and Real Property, Trust and Estate Law section
  • State Bar of Texas, member of Business Law section and Real Estate, Probate and Trust Law section
  • American Bar Association, member of Business Law section, Real Property, Trust and Estate Law section, Committee on Nonprofit Organizations, and Legal Opinions Committee
  • Member, Commercial Real Estate Women of New Mexico

Civic Activities

  • Board of Directors, WESST, a statewide small business development and training organization
  • Board of Directors, Animal Humane New Mexico
  • Council of Business Advisors, Santa Fe Business Incubator




  • "Ethical Considerations in Landlord-Tenant Law," 11th Annual Commercial & Residential Landlord-Tenant Law, sponsored by Sterling Education Services, Albuquerque, New Mexico, April 24, 2013


  • Chambers USA Directories of America's Leading Lawyers for Business in Real Estate, 2016