By Onwuka Gerald
Michael Jackson’s Neverland Ranch in California has been bought by Ron Burkle for $22million.
The billionaire’s spokesman on Thursday in an email said Burkle viewed the 2,700-acre property in Los Olivos, near Santa Barbara, as a land with numerous opportunities.
According to the Wall Street Journal, “the property was sold for $22 million to Burkle, an associate of the late pop star and co-founder of the investment firm Yucaipa Companies.
The initial asking price of the property was $100 million in 2016, but later dropped to $67 million a year later.
Apart from a 12,500 square-foot main residence and a 3,700 square-foot pool house, the property has a separate building with a 50-seat movie theater and a dance studio.
Other features on the ranch are a Disney-style train station, a fire house and a barn.