Home sale sets state record; C-suite shake-ups; more

Frankling home sale sets Tennessee record

The most-expensive listing in Tennessee’s housing market has sold for a record price.

The property — called Twin Rivers Farm — sold for $42.5 million Nov. 14, making it the largest residential transaction in Tennessee history, according to a news release.?

The 10,626-square-foot home sits on nearly 384 acres at 5845 Old Highway 96 in Franklin and includes two private lakes, a 188-tree orchard and countryside views.?

The property was owned by Larry Keele, a founding member of Oaktree Capital Group LLC and graduate of Tennessee Technological University. Keele, through a trust, spent more than $8 million purchasing the parcels that make up the estate, according to Williamson County deeds.

This month's sale tops the previous most-expensive home sale, set in January when HCA Healthcare Inc. co-founder Tommy Frist Jr. sold his 49.7-acre Belle Meade property for $32 million.

Read more about the sale of Twin Rivers Farm and see photos of the property.?

??????

Want the latest business news delivered to your inbox twice a day??Sign up for the Nashville Business Journal’s email newsletters. Already signed up and loving the work we do? Consider?subscribing for less than $4 a week.

? ? ?

Public company CEO abruptly departs

One of Nashville’s public health care companies is under new leadership.?

Todd Meredith has stepped down as president, CEO and member of the board of directors of Healthcare Realty Trust “effective immediately,” according to a company press release Nov. 12.

“On behalf of the board and the company, I want to thank Todd for his 23 years of dedicated service to Healthcare Realty, eight of which he spent as president and CEO,” said Knox Singleton, chairman of the board, in the release. “We wish him well in his future endeavors.”?? |? Read more

? ? ?

CEO departs Nashville restaurant giant

CKE Restaurants, Inc. is on the hunt for its next CEO.

Max Wetzel resigned from his role as leader of the Franklin-based restaurant company, according to a statement from CKE.

CKE Restaurants, which owns sister burger chains Hardee’s and Carl’s Jr., consolidated its headquarters from California and St. Louis to Franklin in 2016.

Wetzel, who was named leader of CKE in March 2023, has been appointed CEO of Tropical Smoothie Cafe, according to a news release.? |? Read more

Plus, BNA lands a new flight to the Sunshine State; why Tony Giarratana sees "terrible tension" in the market; where dozens of new homes are going; and how business owners can prepare for potential tariff hikes in 2025.

? ? ?

Big private health firm files for bankruptcy

One of Nashville’s largest private companies has filed for bankruptcy.?

Wellpath Holdings, one of the nation’s largest providers of health care services to prisons and jails, filed a notice for Chapter 11 bankruptcy protection Nov. 11, according to court documents. The petition was filed in the United States Bankruptcy Court for the Southern District of Texas.

The filing lists nearly 40 affiliates and business partners that have or will file for Chapter 11 protection. The company listed its assets and liabilities between $1 billion and $10 billion each, according to the filing.? |? Read more

? ? ?

GBT reveals East Bank plans

GBT Realty this week revealed plans and a first look at its East Bank site.

GBT is eyeing a massive hotel and residential development for the first phase of its River North project, according to a news release.

Designed by Gresham Smith , the mixed-use tower will feature ground-level retail, coworking space, a hotel and multifamily units. An exact height was not shared but renderings indicate at least one section of the development will be more than 30 stories.

GBT paid $60 million for its 3.7 acres of River North land in October 2021. The Brentwood firm bought the property from Don Allen who had spent two decades buying up 105 acres around the area. |? Read more

? ? ?

This Weekly Edition was compiled by?Alison Nash. Questions? Comments? Concerns??Reach out!?

?

?