[ad_1]
Neverland Ranch, which was the home of Michael Jackson, sold for $ 22 million. The new owner is businessman Ron Burkle, who is one of the co-owners of the Pittsburgh Penguin ice hockey team.
Reported various international outlets over the weekend, including CNN and The Wall Street Journal.
Neverland was purchased by Michael Jackson in 1987 for $ 19.5 million and was the artist’s home until his death in 2009. The site included about 20 buildings, an amusement park, and a small zoo.
The property, which is nearly 1,100 acres and located a few miles northwest of Santa Barbara, is now called Sycamore Valley Ranch. It was put on sale in 2014 and then the price was 100 million dollars. Even after a significant price reduction, buyers were conspicuous by their absence and the sale sign was removed in 2017.
Two years later The ranch was put up for sale again, but it was only now that Ron Burkle, founder of the investment firm Yucaipa Companies, went on strike. The seller was a real estate company affiliated with the Jackson family and a fund managed by Colony Capital.
