KNOXVILLE - The largest house in the state of Tennessee and one of the biggest in the country sold for more than $6 million to a limited liability company whose president is a Maryville defense contractor.
Villa Collina, LLC paid $6.375 million for the Villa Collina, a monstrous waterfront mansion that spans 36,720 square feet, according to paperwork filed with the Knox County Register of Deeds Office late Wednesday.
Records show that the LLC and Eric Barton borrowed $6,309,250 to purchase the house. The rest of the money needed to cover the cost was paid in cash.
The house was sold at auction last month but the closing happened late Wednesday. Scott and Julie Boruff were the owners at the time.
Barton, a U.S. Marine veteran, is the owner of Vanquish Worldwide, a government contracting firm.
He also is listed as the president of Villa Collina, LLC, out of Maryville.
Seven bidders from the region, including some from Knox County and Knoxville, submitted proposals in what was a “lively room for 45 minutes of bidding,” Brad Pruitt, the COO of Signature Luxury Auctions, which oversaw the sale, said at the time of the sale.
Those connected to the sale, however, declined to say who bought the house and how much it cost.
Pruitt would only say that the buyer was not from Knox County but is from the region.
He told WBIR 10News last month that the seller and the buyer have agreed to extend the closing of the sale until the end of January. At that point, the new owner's name will be made public.
The auction had no limit and no reserve, but a prospective buyer could have skipped the auction and bought the house immediately for the listed price of $13.8 million.
To even place a bid, potential buyers had to put up a refundable $250,000 entry deposit.
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The Villa Collina on Lyons View Pike in Knoxville is the largest home in the state and the 87th largest home in the country.
The house features a total of 50 rooms, including eight bedrooms, 11 full bathrooms, five half-baths, and an indoor pool.
Construction on the house began in 1995 and concluded in 2000. The original owners sold the property in 2011 for $8.5 million and included the furniture for an additional $1 million.
The new owner will incur some massive annual tax payments. Combined property taxes from the City of Knoxville and Knox County total around $102,000 a year.
Then there's the utility bill. KUB records show the average monthly electric bill is $4,577.
(© 2016 WBIR)