Mark Zafrin
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PRACTICE FOCUS
With over 30 years of experience, Mark Zafrin is a Mergers and Acquisitions attorney with a varied clientele, emphasizing health care business matters. Mr. Zafrin regularly advises long-term care and behavioral health providers on highly complex mergers and acquisitions of healthcare facilities, hospitals, federally financed clinics, ambulatory surgery centers and helping his clients with health care licensing, operations, and reimbursement. Mr. Zafrin utilizes his in-depth knowledge of HUD, FHA, conventional mortgage financing, mezzanine, private equity financing, and health care Certificate of Need applications on behalf of his clients. He advises his clients, including nursing homes to assisted living centers and clinics, primary care clinics and free-standing renal dialysis centers on their FHA and conventional mortgage financing, regulatory issues, Medicare and Medicaid audits, and general corporate matters. He adroitly structures transactions to maximize the benefits accruing to tax planning and financing promoters. Mr. Zafrin has an in-depth knowledge of 1031 Exchanges and is an adroit user of investment and ownership vehicles such as Delaware Statutory Trusts, Series LLC’s, and Tenancies in Common. Mr. Zafrin has significant expertise in negotiating and drafting sales and purchase agreements, arranging for his clients to finance acquisitions, renovations and construction. He routinely assists with loan preparations, equity securitization transactions (such as REITs), equity funds, and partnership syndications of health care facilities. He regularly handles transactions involving HUD-insured, conventional, and tax credit financing, as well as mezzanine loan originations and restructurings and debt securitization transactions, including Real Estate Mortgage Investment Conduits.
REPRESENTATIVE EXPERIENCE
- Leveraged a buyout of a 499-Bed Nursing Home in Manhattan (Dewitt Rehab) for $108M., including a $9M. bridge to HUD from Key Bank.
- Subsequent HUD refinancing of Dewitt Rehab the largest single asset financing since the inception of the HUD 232 program at $127M.
- Refinance of Workmen’s Circle MultiCare using a Delaware Statutory Business Trust one of the largest HUD loans ever on a single building in the agency’s history, totaling $104M and still the first and only time that HUD has allowed a Delaware Statutory Trust to be a borrower.
- Obtained the approval for the first new construction of a Skilled Nursing Home in New York State the $60M Epic Rehabilitation and Nursing at White Plains.
- Negotiated and closed the purchase of Six Nursing Homes in Bankruptcy in Buffalo, New York.
PUBLICATIONS
- "Structuring the Offering of Physician Interests in a Multi-Specialty Ambulatory Surgery Center to Comply with the Anti-Kickback Law,” Journal of Health and Life Sciences Law, October 2011 (Author)
- "Preparing Offering of Interests in Ambulatory Surgery Centers to Physician-Investors" Physician News, June 2011 (Author)
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