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The senior housing industry is experiencing a wave poised to reshape real estate and healthcare for decades: the silver tsunami. As the population ages, operators face rising demand, evolving regulations, and greater investor scrutiny, all while striving to deliver high-quality care. In this complex environment, legal leaders act as advisors, strategic partners, risk managers, and mentors, helping companies navigate rapid demographic and market shifts.
American Healthcare REIT, Inc. is a real estate investment trust that acquires, owns, and operates a diversified portfolio of clinical healthcare real estate. Its focus spans senior housing communities, skilled nursing facilities, and outpatient medical buildings across the United States, the United Kingdom, and the Isle of Man.
At American Healthcare REIT( AHR), Mark Foster serves as Executive Vice President, General Counsel, and Corporate Secretary, overseeing the legal function as part of a five-member executive team. He ensures law and strategy align at every level. Mark works where public markets, operations, and care delivery meet, guiding the company through growth opportunities and risks as the senior population expands in the US and the UK.
That work begins with awareness. Mark describes his role as a connector, translating business direction into structure and execution.“ It’ s about understanding the business objectives, selecting the appropriate structure, and overseeing outside counsel to ensure they identify and address the salient regulatory and compliance risks.”
Moving in-house
Mark started his career in private practice at a full-service law firm in California, focusing on commercial real estate and finance. As he progressed, he wondered where his path would lead.“ As I matured in my career, I knew what my life would look like if I stayed at the law firm for the next 20 or 30 years,” Mark reflects. His client interactions opened his perspective.“ I saw firsthand how in-house counsel could influence the intersection of business and legal strategy.”
Curiosity soon led to action. As a fifth-year associate at the law firm,“ I received a call from a Toll Brothers recruiter out of the blue. I thought, if I’ m going to take the leap, I might as well do it now.” Mark became California Regional Counsel at Toll Brothers.“ That was my first entry into the in-house role, a key moment in my career.”
Learning the seat
At Toll Brothers, Mark worked regularly with CEO Bob Toll, a former attorney turned homebuilder magnate. The experience reshaped how Mark viewed the importance of a highly functioning in-house legal team.“ Bob Toll had been a private practice attorney before he founded Toll Brothers and he valued the input of his legal team. He gave in-house lawyers seats at the table on strategic transactional matters and looked to them for candid risk assessments and solutions.”
That environment left a lasting impression.“ That experience taught me how in-house lawyers can add value and contribute to the success of the business in a meaningful way. I’ ve carried that lesson with me throughout my career.”
When the housing market collapsed, Mark knew he needed to pivot. He joined the Rockefeller Group during the financial crisis, shifting from homebuilding to commercial real estate development.“ It was a certainly a valuable learning experience. I learned that you can’ t control the macro business environment, but that you can protect yourself by remaining flexible and open to new opportunities,” Mark explains. At the Rockefeller Group, he worked on entitlement matters and government-focused projects.“ We handled government projects like a Veterans Affairs outpatient clinic,” Mark recalls. The work expanded his understanding of timing and regulatory complexity in real estate transactions.“ That period broadened how I thought about long-term development projects and certainly taught me patience,” he adds.
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