May 29, 2015
Neverland, the former compound and theme park of pop icon Michael Jackson, is up for sale. The 2,700-acre site, in Los Olivos, is being marketed for $100 million by Colony Capital.
The area now has its original name back, Sycamore Valley Ranch, which was what it was called until Jackson purchased the property, outside of Santa Barbara, for $19.5 million in 1987.
After Jackson defaulted on a $24.5-million loan in 2008, Colony nabbed the note for $23 million. The singer passed away the following year.
Colony has apparently pumped millions into the asset and done away with the theme-park rides. The original house is still on the property though.