The estate in the US state of California, which for many years was owned by American singer, songwriter, producer, and dancer Michael Jackson, sold for $22 million to billionaire Ron Burkle. This was reported on Thursday by The Wall Street Journal.
As the newspaper notes, the property was put up for sale in 2015 for $100 million by the singer’s heirs and by Colony Capital. Since then, its cost has decreased many times. Last year it was $31 million.
Jackson bought the estate in 1987 for about $19.5 million and named it Neverland. The land area is almost 11 sq. km, there are a mansion and other buildings on it. Jackson ordered the installation of a toy railroad, a carousel, and a Ferris wheel on the territory. The singer died in 2009. After that, the name of the estate was changed, and the attractions were removed.
According to the newspaper, at the time the estate was put up for sale on the site, there were about 20 buildings, including guest houses, as well as a swimming pool, basketball court, and a cinema for 50 people.
As noted in the material, Burkle was Jackson’s business advisor in the mid-2000s. Representatives of the billionaire told reporters of the publication that Berklee considered the acquisition of the estate a profitable investment in real estate.
