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,” Mark says, noting that legal input often affects outcomes well before documents are finalized.
He focuses on how AHR uses outside counsel.“ Having been a law firm partner gives me insight into how to use outside counsel efficiently,” he says.“ It helps me clarify expectations around scope, fees, and results.”
Alternative fee arrangements are part of that approach.“ Developing alternative fee structures not only typically saves shareholders money, but it creates alignment between the company and law firms, one of its most important and often most expensive service providers.”
Leading legal teams
Mark’ s leadership style centers on clarity and accountability. Early in his career, he documented lessons learned.“ I created a list of“ Do’ s and Don’ ts” for transactional attorneys,” he says. However, the principle behind it remains unchanged today.“ Offer solutions. Don’ t just identify risk. Clients value recommendations.” Context matters as well.“ Understand the business purpose behind everything you do,” he says.“ A $ 50,000 contract and a $ 500 million contract need different approaches.”
Mark highlights the importance of the human side of the role.“ Your client is the company, but you’ re working with people who you have to see every day. It’ s about navigating those dynamics.” For example, advice must address the concerns of key internal stakeholders as well as the company.“ The art is presenting advice( both legal and pragmatic) that best serves the company and allows the people you are working with to sleep well at night,” he says.
Early influences
There are two influences that have impacted Mark. He traces his interest in law back to childhood.“ In sixth grade, two classmates had a father who was a California appellate court judge,” he says. Watching Judge Trotter left an impression.“ He commanded respect while remaining thoughtful and soft-spoken.”
Mark Foster- American Healthcare REIT
Remembering his demeanor stayed with Mark and brought him to a career conclusion.“ I thought, that’ s the type of person I want to be. That’ s when the idea of becoming a lawyer took hold.”
Bob Toll also left a lasting impression mark on how Mark approaches legal work. Bob highlighted the importance of clarity and brevity in communication.“ He expected a separate legal memo before entering into any deal,” Mark remembers.“ The focus was distilling issues down to what the business decisionmakers needed to hear.” Mark still applies that principle today.“ I don’ t need a 20-page memo,” he notes.“ I need a one-page summary of the risks and how they’ re being addressed.”
Choosing AHR
A call from a former associate general counsel at Sabal, now Chief Operating Officer, brought Mark to AHR.“ He said,‘ Hey, Foster, we’ re preparing to do a $ 2 billion REIT IPO, and I want you on the team,’” Mark remembers. Despite the uncertainty, he recognized the potential.“ I sat down, thought about it, and said,‘ Wow, this is a unique opportunity,’ and took a leap of faith because no one knew if the IPO would actually happen.”
Preparation consumed the next 18 months.“ We spent that time getting the company ready for the IPO, which launched on January 29, 2024, and subsequently led to the listing of our shares on the New York Stock Exchange on February 7, 2024” he says.“ Our IPO price was $ 12.00. Today, two years later, we’ re trading at $ 50.00 a share; a short period of tremendous success thanks to our assets, business team and constant focus on our mission of providing and facilitating quality care.”
What sustained his commitment was the sector’ s alignment with inevitable trends. Above all, the mission resonated.“ Our focus is always on care first for residents, helping make society better by improving the lives of seniors as they age.” modern-counsel. com 27