Michael Jackson’s $100M ranch

The California ranch owned by Michael Jackson is being sold.

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Once known as Neverland, the California ranch owned by late pop star Michael Jackson is on the market for $100 million. Now known as Sycamore Valley Ranch, the Los Olivos property spans 2,700 acres and has about 22 structures on it, though the amusement park rides installed by Jackson are long gone.

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Jackson paid $19.5 million for the ranch in 1987 and lived there more than 15 years. When he defaulted on a $24.5 million loan backed by the ranch, real-estate investment firm Colony Capital bought the note in 2008 for $23 million and put the title into a joint venture it formed with the pop star.

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The property is being sold by Suzanne Perkins of Sotheby’s International Realty and Harry Kolb of Sotheby’s and Jeffrey Hyland of Hilton & Hyland, who have warned they will be doing “extensive prequalification” of potential buyers before showing the property. “Our seller is not encouraging a lot of showings,” Hyland told The Wall Street Journal. “We’re not going to be giving tours,” Perkins added.

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thanks, The Wall Street Journal