photo: dailymail.co.uk
World - The house is magnificent relics of the late Michael Jackson, Neverland, will be sold. Consideration sell this house expressed by a spokesman for the property management company on Thursday, July 31 2014 Forbes report that billionaire Tom Barrack Colony Capital, which currently manages the estate is preparing to sell the famous area of 2,700 hectares farm it.
Barrack known private company took over property on 2008 after buying it for USD23,5 million, when Jackson snared debt and the property market is down. Since then, Colony Capital to pay US$5 million per year to fund the maintenance of the property. The amount is combined with the original debt inversments bring more than US$50 million within seven years.
Jackson family representative unnamed told Forbes that they are confused about the possibility of losing their homer purchased the iconic King of Pop in 1988. "We are frustrated, disappointed, and sad. We deplore, Michael lost control of Neverland during his life as a result of the advice former manager," he said.
Another emerging option is to change the Neverland into a performing arts school, or a site like Elvis Presley Graceland. However, Los Olivos Calfornia, where Neverland is located, away from the crowd. Plus the mountain roads are narrow deemed conducive to accommodate heavy traffic of visitors.
A local investment analyst told Bloomberg that Neverland is worth US$35 million to US$50 million, depending on what they do with the land. Other analysts predict that sales could soar up to USD 85 million.
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