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Michael Jackson ends Neverland adventure
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by Blue Crush | November 14, 2008 at 12:26 am
22522 views | 10 Recommendations | 3 comments
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Michael Jackson's Neverland adventure is over.
After facing foreclosure earlier in the year, he has turned title of Neverland Ranch to Sycamore Valley Ranch Co. It apparently will be renamed the Sycamore Valley Ranch, it's original name before Jackson bought it in 1988.
Faded pop star Michael Jackson has further distanced himself from his former California home, Neverland Ranch.
The singer gave up the title to the Santa Barbara County estate, transferring it to a firm called Sycamore Valley Ranch Co. — a joint venture between Jackson and an affiliate of Colony Capital LLC, the firm that helped bail him out at the last minute earlier this year.
In February, Financial Title Co. scheduled an auction of the sprawling property — including all of Jackson's possessions still on site — after the singer failed to pay a more than $24-million US debt he owed. In May, Colony Capital, a Los Angeles-based real estate investment company, purchased Jackson's loan just prior to the auction.
Colony Capital is a Los Angeles based real estate investment company, run by Billionaire Tom Barrack, which owns several properties in Las Vegas, including the Las Vegas Hilton. The buzz in Vegas is that Michael, as part of the deal, would be performing at the Hilton there.
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Gareth Conway (not verified)
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Blue Crush
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Most RecentMost Recommended Comments (3)
at 08:25 on November 14th, 2008
Never say never, I guess!
at 15:25 on July 1st, 2009
I think it should kept open for people to visit and learn about Michael's life. If people knew the terrible things that went on there it might help prevent it happening else where. Too many people don't know the real Michael and believe the lies he whined in his false high pitched voice.
at 15:03 on July 1st, 2009
Michael Jackson was,is,and will always be here with me in my heart and i dont believe that he would sell his ranch even though he died he still will love that ranch and we will always love us because he had a good heart and im his biggest fan and i miss him dearly thank you love NikkiAnn Santangelo