our people

Francisco Ramirez

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Francisco Ramirez

“Work harder than the person next to you.”

backstory

I grew up in Puerto Rico, then went to Wharton, where I studied accounting and finance. My father was an attorney and told me not to be a lawyer, so naturally I attended law school at Columbia and went to work at Latham and Watkins. There, I was exposed to everything from telecom deals in South America to real estate development.

After Latham, I had my first child, moved back to Puerto Rico, and started working at McConnell Valdes. I started to represent Tishman on some of their deals and began working closely with David Rothenberg, John Vickers, Dan Tishman, and Dan Unger. After providing day-to-day coverage for Tishman, I eventually moved back to New York to come in-house, handling our projects in Puerto Rico.

At Tishman, I provided legal support but also started getting more hands-on with transactions. I worked on the exit of Rio Mar and continued to work on Sheraton Old San Juan. Eventually, I started to get integrated into our assets in Florida and focused on the WDW Swan Reserve, which was deeply fulfilling as I got to work with the Disney and MetLife teams from deal conception to design through opening.

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Over this period, I had to manage some ups and downs with the hurricanes in Puerto Rico and then COVID. Somehow, we managed to get through with our sanity intact and earned a few wins I can look back at with a sense of accomplishment. We opened a hotel during a pandemic, sold a hotel at a huge profit in a market many had written off, and acquired one of the first distressed bulk condo deals in New York.

When I look at deals, I spend a lot of time on the thesis. You need to be immersed and knowledgeable about the market, but you also must understand what strategic path will create the most value. I look at risk-reward, downside mitigation, and opportunity cost when I try to determine where and how we will spend the dollars. If we can build a high level of conviction in our thesis, I think we can find value in the deal and achieve outsized returns.

professional biography

Francisco "Paco" Ramirez is an Executive Vice President for Tishman. Prior to joining Tishman in 2007, he was a partner at McConnell Valdes LLC, one of the largest Hispanic owned law firms in Latin America, and has over 15 years’ experience in all aspects of real estate development and finance. Mr. Ramirez is a member of the New York State and Puerto Rico Bar Associations. He holds a BS in Economics from the University of Pennsylvania, Wharton School of Business and a JD from Columbia Law School, where he was recognized as a Harlan Fiske Stone Scholar.