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Oaktree co-founder Larry Keele seeks $65M for Nashville-area estate
Larry Keele has listed Tennessee’s most expensive property
Oaktree Capital’s Larry Keele and 5845 Old Highway in Franklin, Tennessee (Getty, Google Maps, LoopNet, Oaktree Capital)
A titan of alternative investments whose firm is a key commercial real estate player put his sprawling estate in Franklin, Tennessee, on the market as the most expensive home currently on the market in the Volunteer State.
Twin Rivers Farm at 5845 Old Highway has been listed for $65 million, according to the Nashville Business Journal.
The estate is owned by Larry Keele, who co-founded Oaktree Capital, which he now serves as an advisory partner since his retirement in 2015. It holds a 10,600-square-foot house built in 2018. The home, designed by architect Steve Giannetti, has five bedrooms, nine bathrooms, six fireplaces, a six-car garage, tennis courts, and a glass-enclosed pool with a retractable roof.
The property spans nearly 384 acres and boasts two private lakes, a 188-tree orchard, and views of the surrounding countryside. The property also includes a separate guest house and an animal barn.
Dan McEwen of the McEwen Group has the listing. Keele is an alumnus of Tennessee Technological University.
If the estate fetches its $65 million asking price, it would mark one of the largest residential real estate transactions in the history of middle Tennessee. The priciest residential sale in 2022 was a property in Nashville sold for $18 million, according to the Business Journal.
Nashville has attracted a few big real estate deals recently, including for a large commercial housing asset.
Earlier this month, TA Realty paid $99.34 million for the 322-unit Novel Harpeth Heights apartments at 615 Old Hickory Boulevard, the Nashville Business Journal reported. That’s about $308,500 per unit.
The seller was Charlotte-based Crescent Communities, which bought the 22-acre site for $3.2 million in 2021 before developing the complex in partnership with Pearl Street Partners. Novel Harpeth Heights was completed last week. Floor plans include one-, two- and three-bedroom units, and there is 28,000 square feet of amenity space.
TA Realty’s latest acquisition further establishes its presence in the Greater Nashville area. The firm set a record for priciest multifamily purchase in Franklin in April 2022, when it paid $145 million, or $442,073 per unit, for The Harper Apartments. That was the eighth largest real estate deal in the Nashville area last year, the outlet reported.
— Ted Glanzer