The Real Deal Miami

Heir to Hospital Corp. of America co-founders buys Palm Beach home for $8M

Buyer's father is the richest person in Tennessee, with net worth of more than $8B

June 15, 2016 04:45PM
By Katherine Kallergis

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242 Tangier Avenue in Palm Beach

242 Tangier Avenue in Palm Beach

Thomas F. Frist III, the grandson of billionaire Hospital Corp. of America co-founder paid $7.9 million for a Palm Beach home.

Records show Frist and his wife Julie bought the 5,227-square-foot home at 242 Tangier Avenue.

Thomas Frist is the grandson of Thomas F. Frist, one of three co-founders of HCA, the publicly traded for-profit operator of health care facilities. Frist II, also a billionaire, was chairman of the company and also a cofounder. He’s also the richest person in Tennessee with a net worth of more than $8 billion.

The buyer, Thomas Frist III, is the founder and managing principal of the investment firm Frist Capital.

The Frists’ new five-bedroom home includes a hand-carved spiral staircase, library, dining room, den with walnut hardwood floors and a custom kitchen with white cabinets, marble countertops and high-end appliances. While it includes a pool and spa, the property is not on the water.

Senie Bloys, of the Fite Group, brokered the sale, according to Redfin. Bloys was also the seller. Property records show it last traded for $4.2 million in 2011. The house across the street at 243 Tangier Avenue was previously owned by a Bernie Madoff investor.

HCA’s revenue for 2015 was nearly $40 billion, according to published reports. The company, which previously employed Florida Governor Rick Scott as its chairman and CEO, operates more than 165 hospitals and 110 freestanding surgery centers.