A billionaire acquires Michael Jackson's farm
The farm extends over an area of 1100 hectares.
A.F.B.
American billionaire Ron Burkle acquired the famous Neverland Ranch owned by the late Michael Jackson, at a price of nearly $ 22 million, well below the originally specified sales price.
A spokesman for the Montana-based businessman told Agence France-Presse that Ron Borkel, who invests in various sectors including supermarkets and the music industry, has acquired the farm, given the "real estate banking opportunity" it provides.
Burkle served as a financial advisor to Michael Jackson.
In particular, it helped him pay off huge debts that he had accumulated due to his lavish lifestyle in the years before his death.
The deal, which the Wall Street Journal estimated at $ 22 million, was confirmed by a source familiar with the file, describing the figure as "highly accurate."
However, this number is much lower than the base estimate declared for the farm in 2015, which was $ 100 million.
Last year, the estimated price fell to $ 31 million, without the farm finding anyone to buy it.
Information indicates that Jackson acquired the farm with $ 19.5 million in the 1980s.
Jackson had sold the farm shortly before his death in 2009 in light of the huge indebtedness with which he was overwhelmed, to "Thomas Barack Juniors Colony Capital Investment" for $ 22.5 million.
The farm extends over an area of 1,100 hectares, and is located 65 kilometers from Santa Barbara, and includes three guesthouses, a lake, tennis courts, barns and animal shelters.
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