The Real Deal Los Angeles

Private equity head Peter Nolan lists Manhattan Beach mansion for $23M

Nolan and family lived there for more than 20 years
By Subrina Hudson | February 27, 2017 12:45PM

Pacific Avenue home, Peter Nolan (MLS/Nolan Capital Inc.)

Peter Nolan, senior advisor at West L.A. private equity firm Leonard Green & Partners, is saying goodbye to the shores of Manhattan Beach.

The executive listed his estate on Pacific Avenue with an asking price of $22.5 million, or about $2,122 a square foot, The Real Deal Has learned.

The classic Nantucket-style property sits on more than half an acre and features six bedrooms and six bathrooms. It also includes a detached one-bedroom, one-bathroom guest cottage.

The 10,600-square-foot home features a wine cellar, gym and observation deck. Guest quarters feature an underground “man cave” with a pool hall, library, wine cellar and gym. The backyard has two outdoor kitchens, cabana area and a basketball court.

Property records show Nolan acquired the home in 1996 but the price is unclear.

Nolan stepped down as managing partner at Leonard Green & Partners in 2014 to assume his current role as senior advisor. The move was to increase his focus on his foundation and charitable work as well as his family office Nolan Capital Inc., which recently took a controlling stake in restaurant chain Fresh Brothers. Nolan joined Leonard Green in 1997, helping the firm grow from $500 million in assets under management to now more than $24 billion.

David and Jennifer Caskey of Strand Hill Properties have the listing.