MICHAEL JACKSON’S NEVERLAND RANCH UP FOR SALE

Michael Jackson's Neverland Ranch may be sold soon. Thomas Barrack Jr of Colony Capital told Bloomberg: "We've really just been custodians of an irreplaceable estate and are proud to say we've restored it to the original elegance Michael first envisioned. We are now considering putting it up for sale."
Colony Capital bought out Jackson's $23 million mortgage on Neverland back in 2008 when the late singer was facing foreclosure at the property. The property had undergone a recent restoration after years of neglect. The total is estate comprised of 22 buildings, including guest houses, apartments and a drive-in movie theater. However, the fairground with its own amusement rides and other theme park attractions, for which it was best known, has been replaced by a tranquil "Zen garden." Real estate experts expect the 2,700-acre Los Olivos property to fetch about $60 million.
The Jackson family is not too happy with the Colony Capital's decision to sell Neverland Ranch. In a statement, the family's representative said, "We are frustrated, bitterly disappointed and saddened that it has come to this. Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager....We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property. Michael's memory lives on in the hearts of his fans worldwide."
The Neverland Ranch also has its share of controversy. In 2004, the place was raided by the police as part of an investigation into the late singer's alleged impropriety with minors. While he was cleared of of the alleged misconduct with minors, Jackson who moved out of the property in 2005 never returned to Neverland because he said it no longer felt like home.
Tags : michael jackson Neverland Michael Jackson Neverland Michael Jackson Neverland for sale Michael Jackson Neverland news Michael Jackson Neverland Ranch Colony Capital $23 million mortgage a recent restoration 22 buildings guest houses apartments drive-in movie theater amusement rides theme park attractions tranquil "Zen garden Zen garden 2 700-acre Los Olivos property to fetch about $60 million 2 700-acre Los Olivos property michael jackson property michael jackson property for sale michael jackson latest news property for sale property for sale michael jackson property michael jackson michael jackson news
Hot Trends
-
CCM Artists Call for Reform Amid Allegations Against Michael Tait: “Secrecy Always Destroys”
-
Michael Tait Accused of Watching Woman Raped During Newsboys Tour
-
Newsboys Dropped From Label Amid Michael Tait Scandal
-
TobyMac Accused of Dabbling with Satanic Occult
-
Michael Tait Faces Additional Allegations from 6 More Men, Including Two Minors
-
TAYA Leaves Hillsong Church
-
Former Mutemath Drummer Darren King Identifies Himself as a Victim of Michael Tait’s Alleged Misconduct
-
Newsboys' Michael Tait Joins Capital Chuch for their 37th Annual Easter Sunrise Service at the Lincoln Memorial
-
The Rise and Fall of Michael Tait
-
NEEDTOBREATHE Frontman Bear Rinehart Accused by Younger Brother Bo of Sexual Abuse
-
Kevin Max Explains Audio Adrenaline Departure in Open Letter (Read Here)
-
Matt Hammitt is Leaving Sanctus Real
-
Here Are Lyrics to Passion's "The Lord Will Provide"
-
Chrissy Metz to Star in Upcoming Film "Faith in the Flames: The Nichole Jolly Story"
-
Nicole Serrano, Former Member of Red Rocks Worship & Vocalist for Chris Tomlin, Says She's a Lesbian
Most Popular
-
CCM Artists Call for Reform Amid Allegations Against Michael Tait: “Secrecy Always Destroys”
-
Michael Tait Accused of Watching Woman Raped During Newsboys Tour
-
Newsboys Dropped From Label Amid Michael Tait Scandal
-
TobyMac Accused of Dabbling with Satanic Occult
-
Michael Tait Faces Additional Allegations from 6 More Men, Including Two Minors
-
TAYA Leaves Hillsong Church
-
Former Mutemath Drummer Darren King Identifies Himself as a Victim of Michael Tait’s Alleged Misconduct
-
Newsboys' Michael Tait Joins Capital Chuch for their 37th Annual Easter Sunrise Service at the Lincoln Memorial
-
The Rise and Fall of Michael Tait
-
NEEDTOBREATHE Frontman Bear Rinehart Accused by Younger Brother Bo of Sexual Abuse
-
Kevin Max Explains Audio Adrenaline Departure in Open Letter (Read Here)
-
Matt Hammitt is Leaving Sanctus Real
-
Here Are Lyrics to Passion's "The Lord Will Provide"
-
Chrissy Metz to Star in Upcoming Film "Faith in the Flames: The Nichole Jolly Story"
-
Nicole Serrano, Former Member of Red Rocks Worship & Vocalist for Chris Tomlin, Says She's a Lesbian