High quality Ga0.82In0.18As0.17Sb0.83 layers lattice matched to GaSb substrates were grown by liquid-phase epitaxy using a supercooling technique. By selection of the optimum growth condition, we can obtain the undoped layer with a low hole concentration of 1.2X10(16) cm-3 and a narrow full width at half maximum of 12 K photoluminescence spectrum of 11.6 meV. The temperature dependence of near band gap energy in Ga0.82In0.18As0.17Sb0.83 layers, determined from the photoluminescence peak energy, varies as 0.62-[5.2X10(-4)T(2)/(T+163)] eV. In order to obtain the low electron concentration layer, the Te-doped polycrystalline GaSb (n=4x10(17) cm-3) is used to replace some of the undoped GaSb starting material in the growth solution for the purpose of compensation. The lowest hole concentration of 4-7X10(15) cm-3 can be achieved when the GaSb starting material in the growth solution consists of 10% Te-doped polycrystalline. With increasing percentage, the layer conduction changes to n type, and it reaches an electron concentration of 2X10(17) cm-3 by using only the Te-doped GaSb polycrystalline in the growth solution. On the other hand, the peak wavelength of 12 K photoluminescence spectrum decreases with increasing electron concentration because of the Burstein-Moss effect. Finally, an n-GaInAsSb/p-GaSb heterostructure diode was fabricated, which exhibits a forward-bias turn-on voltage of 1.8 V and an ideality factor of 1.86.