Neverland Ranch Sale
Michael Jackson’s Neverland Ranch in California has found a brand-new owner in billionaire business owner Ron Burkle. Burkle is the managing shareholder of Soho Home. After Burkle saw the property from the air, he put in an offer to acquire.
Burkle views the 2,700-acre residential or commercial property in Los Olivos, near Santa Barbara, as a land banking opportunity, his representative said Thursday in an email. The Wall Street Journal reports the property was sold for $22 million to Burkle, a partner of the late pop star and co-founder of the investment firm Yucaipa Companies.
In addition to a 12,500 square-foot primary house and a 3,700 square-foot swimming pool house, the home boasts a different building with a 50-seat film theater and a dance studio. Other functions on the cattle ranch are a “Disney-style” train station, a fire house and barn. Burkle’s representative said the billionaire had been considering Zaca Lake which joins the property for a new Soho House, a members-only club with areas in Los Angeles, Miami, New York and Toronto.
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