Update 7:38 p.m: Whoa Nelly. Obviously I am asleep at the wheel. Did a little google research and found that Tenet Healthcare, under Mr. Fetter’s reign, paid the United States $42.75 million to settle allegations that it violated the False Claims Act by overbilling the federal Medicare program, this in 2012. You know the drift: pay the money, admit no wrongdoing. Then, D Healthcare reports that Tenet Healthcare and Florida-based Health Management Associates have been charged with paying kickbacks to clinics that lured pregnant, non-English speaking women living in the United States illegally to their hospitals, and then filed fraudulent Medicaid claims for those patients. None of the hospitals, says D Healthcare, were in Texas. This suit was just filed August 1 and first reported by The Associated Press. Of course, we just care about the HOUSE!
I seriously doubt it: Trevor Fetter is president and CEO of Dallas-based Tenet Healthcare. He makes a salary well into eight figures. According to a proxy disclosure, his total compensation in fiscal year 2012 exceeded $11.24 million. So a house on Beverly Drive listed at $8 million is peanuts.
The Fetter’s were in no way affected by the economic downturn, and are a perfect example of the way the truly rich are driving the market. Mr. Fetter’s compensation last year rose 4.7 percent, and it exceeded $10.74 million. That included a base salary increase to $1.1 million, with most of his compensation in the form of stock awards, option awards and deferred earnings… ironically, about a whopping 8 million worth.
Mr. Fetter also chalked up more than $1.61 million in bonuses and incentives and recorded almost $161,000 for personal use of a Tenet’s private jets.
Enough about him, we get it, he’s wicked rich, let’s get to the house! I feel like a pop-quiz is in order: look at 3821 Beverly, does it look familiar? Who used to own it?
Answer: John and Lyn Muse lived at 3821 Beverly before they built their masterpiece of an estate on Preston Road. In January of 2005, the Fetters bought the home for about $5,750,000. At the time, Ralph Randall was the listing agent.
This classic, soft Mediterranean home is one of the most beautiful homes in Dallas, toppers on my list. And the Fetters have exquisite taste. The location is A plus plus plus on a more than half acre lot on the street that just moves high end mountains when you say you live there: Beverly Drive. Heck, did you know that an Addison-based magazine, GrandLuxe, has even adopted the street name to attain more panosh? We love Addison, sure, but I would pitch a tent on Beverly Drive just to name drop that as my street, wouldn’t you?
The home is 10,057 square feet of goodness with lush front grounds, the most manicured gardens on a block that never, ever has a hangnail, and charmingly inviting walkways. The home was built in 1992, I cannot recall if Lyn and John custom built it or not. Very traditional floor plan: spacious foyer leads to formal living and dining rooms, beautiful wood paneled library with fireplace, and spacious family room with French doors leading to the outdoor living area. Because the lot is so hefty, you get a downstairs guest suite, complete with a private patio overlooking the rear grounds. This could totally become a downstairs master. Kitchen and morning room are located off the family room, as this was one of the first homes in Dallas to embrace the concept of a “morning room”. (I am obsessed with morning rooms and must have one!) I believe the kitchen has been upgraded from when Lyn Muse had it, but I am sure it was over the top then as well as now: Wolf 8 burner range with griddle, SubZero refrigerator and freezer, dual dishwashers, center island, marble countertops, and architectural window that lets in abundant light. The breakfast room has a fireplace, one of five in the home.
Upstairs, four bedrooms, including the master suite. The master is huge at 19 by 17 feet, covered with Gracie wall coverings — the company started in 1898, costs a fortune per square inch — tall windows, and an adjacent sitting room with yet another fireplace and views of the rear grounds and pool. His and her closets, of course, separate oversized shower and tub, separate vanities, an exercise room, and very large extra closet for good luck finish off this space. Of the other three bedrooms, one has a private bath for the kid with the highest GPA, the others share a bath. Also up here: an office for the mistress of the mansion, large utility room and craft room.
There is a third floor as well: sitting area and two more bedrooms, two full baths, storage and a giant cedar closet.
There is a covered porch off the family and breakfast rooms with yet another fireplace, large yard and pool. The three car garage can be assessed from the rear or front, and there is a comfortable quarters area above, two spacious apartments with full baths.
The quarters! I think I’ve just found my very own address on Beverly Drive. Joan Eleazer, of The Eleazer Group, agents to quite a few high net worth folks, has the listing and let me just spell it out right now. Asking $8 million. Carve out a spot in that quarters for me as a fractional, and you’ve got a deal!