Michael Jackson's Neverland Ranch Changes Hands
Fri, 14 Nov 2008 11:43:57
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Billboard.com has uncovered some of the details surrounding the deed transfer of Michael Jackson's Neverland Ranch. The 2,500-acre Santa Barbara property has apparently switched hands from the pop star to Sycamore Valley Ranch Co. LLC, a joint venture between Jackson and Colony Capital LLC. The latter is the Los Angeles-based real estate investment company of billionaire Tom Barrack. He owns a number of Las Vegas properties, including the Las Vegas Hilton.
Neverland was called Sycamore Valley Ranch before Jackson purchased it in 1988. His attorney, L. Londell McMillan, did not return any of Billboard's calls in time for their report.
—The ARTISTdirect Staff