Billionaire investor Ron Burkle, a former family friend of Michael Jackson, recently bought the sprawling 2,700 acre (1,100 hectare) estate more than 10 years after the death of the pop star.
Neverland, a name taken from the "Peter Pan" tale of a boy who refused to grew up, became Jackson's favorite retreat and famously featured a zoo, a railway and theme park rides.
After the entertainer's death, the property was renamed Sycamore Valley Ranch, according to The WSJ. Public records show that it sold for $22 million. In 2015, the asking price was $100 million and in 2017 it was re-listed for $67 million.
Jackson bought the property in Los Olivos, about 120 miles (193 km) north of Los Angeles, in 1988 for $19.5 million. After financial troubles, in 2008 he handed over the title to Colony Capital LLC, which held a loan on the property.
Burkle's spokesman said the businessman saw the investment as a land banking opportunity.
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Neverland Ranch Sold For Knockdown Price
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Neverland Ranch Sold For Knockdown Price
A mind should not be so open that the brains fall out; however, it should not be so closed that whatever gray matter which does reside may not be reached. ART BELL
Everything Woke turns to -Donald Trump
Everything Woke turns to -Donald Trump
Re: Neverland Ranch Sold For Knockdown Price
Sounds like a hinky place to me.
Typical Hollyweird...
Typical Hollyweird...
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Re: Neverland Ranch Sold For Knockdown Price
Michael Jackson was... a great performer. Not a great mind or healthy psychological example.