Neverland

[rip.michael]

Confirmed: Michael Jackson’s Neverland Will Be Sold By Note Holder Colony Capital

by Roger Friedman - July 31, 2014 12:57 am





EXCLUSIVE I’ve confirmed that Michael Jackson’s long ago abandoned Neverland Ranch is finally being sold. Colony Capital, which holds the note on the property, now known as Sycamore Valley Ranch, really has no choice. Neverland cannot be converted into a museum because of zoning laws in Santa Barbara County and in the town of Los Olivos. They will market and sell the property, although no sale has taken place yet.

The place was left high and dry by Michael Jackson in June 2005 after his acquittal on charges of child molestation and conspiracy. He never returned. Colony saved Neverland from foreclosure when they became Jackson’s partners. Before they intervened, Neverland was frittered away. Michael let the staff go without salaries for weeks on end. He did nothing to maintain it and had no interest in it. So let’s not romanticize the situation. When he left after the trial he said he wasn’t going back, and he didn’t.

Neverland was dismantled a long time ago, with all the rides and animals sold off to various entities. The contents of the home went into storage, and much of that has been sold. You can’t go back in time, kids. It’s sad, but it’s all over.

The property is currently appraised at around $30 million.

Here’s the statement from the Michael Jackson estate:
We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael’s lifetime, Colony has the right to sell. The Estate will maintain Michael’s family home in Encino, including its iconic recording studio there. We continue to build upon Michael’s legacy as an artistic genius and humanitarian through his music and new projects such as the Michael Jackson ONE show in Las Vegas. We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property. Michael’s memory lives on in the hearts of his fans worldwide.






Uiii! Tatsächlich was dran?

[rip.michael]

Neverland Ranch wird verkauft

Geschrieben von Jasy am 31. Juli 2014. Veröffentlicht in News
Uns erreichte eine E-Mail der Michael Jackson Nachlassverwaltung (siehe unten).
Aufgrund finanzieller Schwierigkeiten, handelte Michael noch zu seinen Lebzeiten einen Deal mit der Firma "Colony Capital" aus um, so hieß es, Neverland zu retten.
Nun gab der Estate (Nachlassverwaltung) bekannt, dass sich "Colony Capital" dazu entschlossen hat, die Neverland Ranch zu verkaufen. Verhandlungen bzgl. einer alternativen Nutzung blieben fruchtlos.
Ferner kann der Verkauf seitens des Estates nicht gestoppt werden, da "Colony Capital" das Anwesen 2008 erwarb und somit die Gestaltungs- und Entscheidungsmacht besitzt.
Hoffen wir, dass Neverland in gute Hände kommen wird...

Statement MJ Estate:
You will soon be reading news reports stating that Colony Capital has decided to sell Neverland. As the property manager, they have the right to do this. The Estate has issued the following statement in response to a media request for comment:

We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael's lifetime, Colony has the right to sell. The Estate will maintain Michael's family home in Encino, including its iconic recording studio there. We continue to build upon Michael's legacy as an artistic genius and humanitarian through his music and new projects such as the Michael Jackson ONE show in Las Vegas. We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property. Michael's memory lives on in the hearts of his fans worldwide.

It is also important to the Estate that Michael's fans understand that although the Estate has no right to stop or obstruct the sale, The Estate did explore a number of potential options for Neverland with Colony but zoning, financial and land use restrictions limited the alternatives and ultimately Colony made the decision to sell.
MJOnline
The Official Online Team of The Michael Jackson Estate™

... Ferner kann der Verkauf seitens des Estates nicht gestoppt werden, da "Colony Capital" das Anwesen 2008 erwarb ...

Ich frage mich, wie die Malibus dazu kommen zu verbreiten, dass C.C. Neverland seit 2008 im alleineigentum hat .... der zitierte satz erweckt jedenfalls diesen anschein, und das ist nun mal definitiv falsch! Der MJEstate kann freilich stoppen .. indem er seine zustimmung zum verkauf verweigert - gleiches stimmrecht beider.

Die beteiligungsgesellschaft Sycamore Valley Ranch Company LLC wurde gegründet am 15.07.2008 und ist mehrheitlich (zu 87,5%) in händen des MJEstate; den anderen anteil hat C.C. inne. Die anteilsverhaltnisse sind in ungeteilter form begründet.
Beide teilhaber haben absolut gleiches stimmrecht ... es könnte also schon sein, dass beiderseitige zustimmung zum verkauf erreicht wurde - aus welchem grund auch immer.
Aber selbst wenn C.C. als property manager aufgrund ermächtigung nun allein händeln darf, was zu händeln ist ... p.m. könnte das nicht ohne eine entsprechende zusage beider anteilseigner.

So jedenfalls mein info stand.

Also ist die behauptung aus dem Malibu FC falsch. Erstaunt mich doch sehr ... na wenn das John Branca wüsste, er würde sicherlich die malibu-rep. nicht mehr einladen.
Ausser die Jasy weiss mehr als sie schreibt ...


Ich bitte um veto, falls ich wegen der angaben oben BS schreibe.

[BlaueBlume]

Hier auch nochmal mit deutschen Erklärungen: http://www.mjjackson-forever.com/ind...&threadID=6228

und hier ein in Verbindung stehender Thread in diesem Forum: http://www.mjackson.net/forum/michae...ri%C3%9F/page3

[Brigitte 58]

habe euch gefunden....tja, dann wollen wir mal abwarten, was da wirklich läuft.
so wie du es schreibst @rip.michael kenne ich die geschichte auch.
barrack ist ja der nachbar von Michael bzw. Neverland.

[daggi]

CC ist auch nach meiner Erinnerung nicht alleiniger Anteilshalter von NL, der Estate hat dort ebenfalls den Finger drauf, also sollten wir uns erstmal nicht so verrückt machen. Wenn dem so wäre, dss NL verkauft wäre, würde das sicherlich schnell an die Öffentlichkeit gelangen und mit schriftlichen, nachvollziehbaren Dokumenten belegt werden können. Oder liege ich da falsch?

[rip.michael]

Nein, C.C. ist nur zu 12,5% am joint venture 'Neverland Valley Ranch Company LLC beteiligt. Das kann man vielerorts nachlesen, im "MJ Geschäftsmann" thread wurde buchgeführt und im "Estate Management Report" thread steht auch einiges.
Auf jeden fall tauchte im 3. report der nachlassverwaltung von 2012 die beteiligung an der LLC mit C.C. im unveränderten anteilsverhältnis auf, guckst du hier ..
In der am 10.02.13 upgedatenen firmen-bestandsliste ist NVRC LLC ebenfalls unverändert aufgelistet, guckst du hier ...

Ich kann mir nicht vorstellen, aus welchem grund MJEstate seinen anteil verkaufen sollte.
Selbst wenn Neverland seit längerem schon nicht wirtschaftlich läuft, die unterhaltung des leerstands wohl einiges frisst, aber ich glaube nicht, dass das am ende ein grund für das MJEstate bilden könnte, Neverland verkaufen zu wollen.
Und einfach so, nur weil man keine einigung über eine zweckmässige nutzung/ausbau erzielen konnte, ist ja auch kein wirklicher grund Neverland abzustossen.
Kann mir nicht vorstellen, dass MJEstate augenblicklich auf den gegenwert der mehrheitsanteile angewiesen ist.
Für unvorstellbar halte ich eine übereinkunft der beiden anteilseigner über eine verkaufsabsicht dennoch nicht.

Abwarten.



Ein artikel von Zack O-Mellay Greenburg, forbes.com Hab's selbst noch nicht gelesen: 7/31/2014 @ 3:13AM |3,140 views

Michael Jackson's Neverland Is About To Be Sold


Though Michael Jackson moved out of Neverland years before his untimely passing, the 2,700-acre property remains indelibly associated with the King of Pop to this day. Soon, however, the connection will be only in thought, not deed: Neverland is set to be sold.
According to sources familiar with the matter, billionaire Tom Barrack’s Colony Capital is preparing to put the Los Olivos, Calif. property on the market. The firm became Neverland’s managing partner after Barrack struck a deal with Jackson in late 2007 to take over the $23 million note held by private equity fund Fortress.
“We are frustrated, bitterly disappointed and saddened that it has come to this,” said a representative for Jackson’s estate in an electronic message to FORBES. “Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager.”
Representatives for Colony Capital could not immediately be reached for comment.
As I reported in Michael Jackson, Inc: The Rise, Fall and Rebirth of a Billion-Dollar Empire , the agreement between Jackson and Colony was a complex one. Barrack himself said he only took on the note as a favor to Jackson (in an interview for the book, he recalled his words to the singer: “Don’t have me do this … unless you’re really interested in building a program going forward to create some revenue for yourself.”)
The agreement, which took effect in early 2008, called for Colony to manage Neverland as a sort of joint venture with Jackson. For every dollar the company invested in the property, its equity would increase. This meant that while Jackson—and, later, his estate—retained a stake in the property, it decreased on paper as time went on.
Over the past six years, Colony has continued to fund the upkeep of Neverland. That cost, if it’s anything like it was in Jackson’s day, is likely in the neighborhood of $5 million per year. Add in the $23 million note, and back-of-the-envelope math suggests the firm may have invested more than $50 million in the property to date. It also retains the right to sell the property at will.
Still, many options were explored over the years. Toward the end of his life, Jackson himself is said to have been intrigued by the idea of turning Neverland into a school for the performing arts; after his death, many have suggested that the property be turned into an attraction like Elvis Presley’s Graceland.
But as anyone who’s been to Neverland (this writer included) can tell you, Los Olivos isn’t exactly Memphis. The area is nowhere near an interstate, and its narrow mountain roads aren’t conducive to accommodating hundreds of thousands of visitors a year.
“The Estate explored numerous options, including a purchase,” continued the aforementioned representative’s statement. “But financial, land use and zoning restrictions have made all of the proposed options prohibitive given our duty as Executors to be fiscally responsible in protecting and growing the assets of the Estate for Michael’s children.”
Indeed, Jackson’s estate has pulled in more than three quarters of a billion dollars in a little over five years since his death. But that’s before taxes and expenses, not to mention the specter of a $702 million IRS bill that the estate is currently appealing.
Buying back Colony’s share of Neverland—not to mention footing a multimillion-dollar annual upkeep bill for a property that does not generate income—would seem to be an imprudent financial choice.
And so, Neverland may soon have a new owner on paper. But any buyer will have to understand the property will always be the King of Pop’s realm in the minds of millions.
For more about the business of the King of Pop, check out my new book Michael Jackson, Inc. You can follow me on Twitter & Facebook.


Edit:
Ich empfehle die lektüre des auf mittlerweile 8 seiten angewachsenen thread im amerikanischen forum, guckst du hier ...
(Ja, ja ich weiss, natürlich alles englisch ... mei)

[BlaueBlume]

. Oder liege ich da falsch?

guckst du in den Link
u.a. steht dort folgendes

Dem Estate ist es auch wichtig, dass Michael-Fans verstehen, dass, obwohl der Estate kein Recht hat den Verkauf zu stoppen oder zu behindern, hat der Estate eine Reihe von möglichen Optionen für die Neverland mit Colony erkundet,
aber die Zonierung und finanzielle und Landnutzungsbeschränkungen haben die Alternativen begrenzt und Colony hat letztlich die Entscheidung getroffen, zu verkaufen.

[Memphis]

das gerücht, dass NL verkauf werden sollte, das gab es ja schön öfter seit michael verstorben ist. bin gespannt ob dieses mal wirklich etwas wahres dabei ist und wie es endet.
colony ist ja nur ein fremdnutzer / eigentümer und hat keinen persönliche bezug zu NL und von daher kann ich verstehen, dass sie eine entscheidung treffen möchten (falls es stimmt). ich denke mal, dass NL auch erheblich kosten verursacht und z.zt. nicht wirklich sinnvoll genutz wird (außer ein paar veranstaltungen). warum neverland bisher nicht ähnlich wie graceland genutz wird (wird ja oft verglichen in den medien), das verstehe ich nicht. graceland liegt in der provinz und ist trotz allem ein riesenerfolg.......neverland liegt in der nähe eines der größten Stätten und touristengebiete der welt. bisher kenne ich keinerlei aussagen warum es nie zu ein graceland-projekt kam (rechtliche gründe)?

haben die michaels-kinder überhaupt ein veto-recht und könnten evtl. den estate dazu "zwingen" ein gebot abzugeben, falls NL öffentlich ausgeschrieben wird (unabhängig von ihr alter). im frage käme da wohl auch nur princ

[BlaueBlume]

hier der Forbes Artikel : http://www.forbes.com/sites/zackomal...ut-to-be-sold/
(auf Englisch - zuviel zum Übersetzen für mich)

[Memphis]

den gleichen artikel gibt es in deutsch (vorhin erst gesehen und schon vergessen wo )

[Brigitte 58]

http://radaronline.com/exclusives/20...olony-capital/ Michael Jackson‘s iconic Neverland Ranch is being sold, RadarOnline.comis exclusively reporting.
According to sources familiar with the situation, Colony Capital, the organization that owns a primary stake in the ownership of the Santa Ynez property, has decided to sell it.
“Colony Capital has the legal right to sell the property to pay down the debt they are owed from the loan, interest, management fee and maintenance costs,” a source said.
PHOTOS: Tragic, Mysterious & Too Weird For Words: 13 Bizarre Hollywood Deaths
The ranch property itself was co-owned by Jackson and Colony Capital, which bought out Jackson’s $23 million mortgage just as the property was about to go into foreclosure. The 2,500-acre ranch in the Santa Ynez Valley area of Santa Barbara County has an assessed value of $27 million.
On Thursday, officials with the Jackson estate issued a statement to fans:
“We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael’s lifetime, Colony has the right to sell. The estate will maintain Michael’s family home in Encino, including its iconic recording studio there.”
PHOTOS: Shocking Evidence Found In Michael Jackson’s Bedroom Where He Died – See The Photos
The company said they’ll “continue to build upon Michael’s legacy as an artistic genius and humanitarian through his music and new projects such as the Michael Jackson ONE show in Las Vegas.
“We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property. Michael’s memory lives on in the hearts of his fans worldwide.
Officials stressed to Jackson’s fans that “although the estate has no right to stop or obstruct the sale,” they explored “a number of potential options for Neverland … but zoning, financial and land use restrictions limited the alternatives and ultimately Colony made the decision to sell.”

[cyplone]

es geht einzig und allein um die anteile von CC! mehr nicht. damals bekam MJ bzw das estate knapp 30 mios um "zahlungsfähig" zu bleiben. mehr nicht.

[BlaueBlume]

den gleichen artikel gibt es in deutsch (vorhin erst gesehen und schon vergessen wo )

meinst du vieleicht den hier? > http://www.stern.de/lifestyle/leute/...n-2127855.html

[rip.michael]

7/31/2014 @ 2:29PM |1.076 views

How Much Will Michael Jackson's Neverland Fetch On The Open Market?



In 1988, flush with the profits of Thriller, Michael Jackson purchased the Sycamore Valley Ranch for $17.5 million. Today, the Los Olivos, Calif. estate is known to the world as Neverland—and its value has changed even more dramatically than its name.
As FORBES first reported last night, billionaire Tom Barrack’s Colony Capital is preparing to place the 2,700-acre property on sale, six years after it took over a $23 million note on Neverland and became its managing partner. In an interview for my book, Michael Jackson, Inc, Barrack himself suggested the property could be worth as much as $100 million; other real estate veterans have similarly lofty views.
“There are only so many mega-properties,” said Southern California realtor Josh Altman, also in an interview for my Jackson biography. He believes Neverland could fetch $75-$85 million on the open market.
In order to fully appreciate the scope of Neverland, one must visit the sprawling sepia ranch in person. A two-and-a-half hour drive from Los Angeles, the latter portion of the journey occurs on treacherously twisting mountain roads; the property is nestled amidst 67,000 sycamore trees, at the foot of a 3,000-foot peak that Jackson named Mt. Katherine, after his mother.
Through the main gate, a mile-long private road winds up to the main house, a seven-room, thirteen-bathroom mock-Tudor with a backyard four times the size of Monaco. Jackson’s amusement park rides and his zoo were hauled off long ago (haunted by accusations of child molestation, he moved out of the property after being found not guilty of all charges against him in a well-publicized 2005 trial).
There’s still a swimming pool with an extra-high diving board, a miniature lake and a two-story edifice that once held Jackson’s vaunted video game arcade. Other buildings include a lakeside guest house, a full-sized movie theater and a redbrick replica train station, which sits atop a knoll with a massive functional clock made of flowers and the word “NEVERLAND” spelled in shrubbery on the hillside.
“Michael was Peter Pan, it was Neverland,” Barrack told me last year. “It was the only place I think that he actually found peace.”
To be sure, there are others who have placed a much lower number on the property than Barrack and Altman. Neverland has reportedly been valued at $30.3 million by Santa Barbara County, while a 2002 appraisal pegged it at $50 million.
For such a unique property, however, all it takes is one eager billionaire or wealthy entity to drastically drive up the price. Don’t expect Jackson’s estate, which still owns non-controlling share of the property, to buy out Colony.
“We are frustrated, bitterly disappointed and saddened that it has come to this,” said a representative from the estate in an email earlier today. “Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager. The Estate explored numerous options, including a purchase, but financial, land use and zoning restrictions have made all of the proposed options prohibitive given our duty as Executors to be fiscally responsible in protecting and growing the assets of the Estate for Michael’s children.”
Colony would likely receive the first $50 million or so of any sale (to cover the $23 million note plus tens of millions plowed into the property’s upkeep over the past six years). If Neverland’s sale price is on the lower end of the spectrum, it’s possible that the estate might not receive anything; on the high end, though, Jackson’s heirs could receive a multimillion-dollar windfall.
In that case, Michael Jackson would also earn posthumous proof that his instincts in buying the property weren’t as outrageous as many observers once suggested: a sale of $70 million would represent a four-fold increase in value over purchase price.

Quelle


Ich rätsele immer noch, ob dem anteilseigner C.C. am Sycamore Valley Ranch Company LLC, von anfang an per vertraglicher festlegung das recht zustand, unter bestimmten bedingungen den verkauf des kompletten anwesens durchsetzen zu können. Durchsetzen können besonders auch im hinblick dessen, dass C.C. nicht nur anteileigner zu 12,5% ist, sondern auch in seiner eigenschaft als property manager tätig wurde. auch wiederum ausgestattet mit rechten, die auch einen verkauf des gesamten anwesens einschliessen, ohne dass es einer genehmigung des hauptanteileigners bedarf.

Ich könnte mir vorstellen, dass das überschreiten einer deadline die rechtliche möglichkeit für C.C. schuf, den verkauf von Neverland zu initiieren. Ohne dass das MJ Estate eine möglichkeit des einspruchs gehabt hätte.
Zack O'Mellay Greenburg hat einen derzeitigen marktwert von $75-$85 million auf dem freien markt recherchiert.
Wenn man die summe der finanzspritze von 23 millionen USD plus gebühren und schlachmichtot und die summe X für aufgelaufenen aufwendungen von C.C. für 6 jahre für die instandhaltung von Neverland zusammenrechnet, könnte das schon in die nähe von 75-85 millionen USD kommen.
Deadline überschritten .... automatisch setzt das verbriefte recht für C.C. ein, den verkauf zu tätigen?
Könnte das so sein?


(Allerdings war der marktwert von Neverland 2008 ganz sicher nicht so hoch, wie er heute eingeschätz wird. Ob der krasse einbruch des US-immobilienmarktes 2008 einfluss auf den marktwert von Neverland hatte ... ich weiss es nicht, ist nur so eine idee ... und schliesslich wurden die vereinbarungen unter anschub von Tohme Tohme 2008 geschlossen.
Allerdings gehe ich davon aus, dass eine deadline nicht an eine zahlenmässig festgelegte summe geknüpft war sondern sich eher nach der dynamischen entwicklung des wiederverkaufswertes richtete.
Könnte aber auch alles BS sein, was ich da so überlege ... ach menno!)

Ich gehe davon aus, dass der verkauf für beide parteien eine reine vernunftsentscheidung war, da das objekt nicht auf wirtschaftlich * lukrative füsse zu bringen war. Abhängig von den nutzungsbestimmungen für dieses gebiet auf dem die Neverland ranch liegt und von der infrastruktur drumherum.
Bin gespannt, wer der neue eigentümer von Neverland ist und welche nutzung Neverland in zukunft erfahren wird.
Ich für mein teil hätte keinerlei bauchschmerzen, wenn die Neverlandranch wieder zu dem werden würde, was sie war, bevor MJ sie erwarb und nach seinen wünschen umgestaltete.
Aber das wird nicht passieren.


* gemeinsame

Wenn T. Barrack der käufer des anwesens ist kann er künftig geschichtsträchtige wie repräsentative 'hütte' in direkter nachbarschaft zu seinem eigen anwesen sein eigen nennen.

Kann mir keiner weismachen, dass T. Barrack oder ein anderer käufer, es nicht möglich machen könnte, MJs ehemaligen besitz samt dem aufgedrückten stempel eines mythos, lukrativ zu verwerten - unter einbeziehung der zoning-auflagen, die die frei nutzung des grundbesitzes einschränken.

Wenn es zu MJs lebzeiten möglich war, kinder bzw. generell solche in not, busladungsweise auf einladung nach Neverland zu karren, warum sollte das in zukunft nicht auch möglich sein, solange es sich nicht um ganze buskolonnen handelt?
Kinder, erwachsene, MJfans ... letztere - also die, denen was an einem besuch von Neverland liegt ... warum auch immer, wäre sicher hellauf begeistert, wenn sich auch künftig die möglichkeit eines besuchs eröffnen würde.

[rip.michael]

Jackson Neverland Ranch Being Readied for Sale by Colony




July 31 (Bloomberg) -- Neverland Ranch, the Los Olivos, California, property where the late entertainer Michael Jackson lived, may soon get a new owner. Scarlet Fu reports on “Bloomberg Surveillance.” (Source: Bloomberg) For sale: California estate once home to the King of Pop, named for the island of the Lost Boys. Spacious Tudor-style mansion ideal for entertaining. Chimpanzee not included.
Neverland Ranch, the Los Olivos, California, property where the late entertainer Michael Jackson lived, may soon get a new owner. Thomas Barrack Jr.’s Colony Capital LLC is readying the estate for a sale as high-end home values return to peak levels in the area.
“We’ve really just been custodians of an irreplaceable estate and are proud to say we’ve restored it to the original elegance Michael first envisioned,” Barrack said in an e-mail yesterday. “We are now considering putting it up for sale.”
Barrack wouldn’t give an asking price for the ranch. His Santa Monica, California-based firm took control of the property after buying a $23.5 million note on it in November 2008, when Jackson faced mounting debts and the real estate market was in free fall. The ranch is assessed at $30.3 million by Santa Barbara County, a value limited to 2 percent annual increases under California tax laws.
The estate, about 130 miles (210 kilometers) northwest of Los Angeles, was named after the island in J.M. Barrie’s story of Peter Pan, a boy who never grows up. The 2,680-acre (1,085-hectare) property is in the Santa Ynez Valley, a region known for wineries where the 2004 film “Sideways” was set.
Photographer: Frazer Harrison/Getty Images Neverland Ranch is seen outside of Santa Barbara, California. The property where the... Read More

Amusement Park

Jackson, known as the King of Pop, acquired the ranch from golf-course entrepreneur William Bone in 1988. The musician turned it into a combination amusement park and zoo, where he entertained fans and was frequently seen with his pet chimpanzee Bubbles, who now resides at a sanctuary in Wauchula, Florida.
The singer stopped visiting the ranch after it was searched by police investigating allegations of child molestation, leading to charges for which Jackson was tried and acquitted in 2005.
He died in 2009 of cardiac arrest and acute drug intoxication at age 50 while preparing for a comeback tour.
Entertainers and foreign investors have shown interest in Neverland, which Colony wants to remain “an enduring tribute to Michael Jackson,” Barrack said in the e-mail. Because the property is zoned for agriculture, it would require approval to be subdivided or turned into a tourist attraction similar to Elvis Presley’s Graceland home in Memphis, Tennessee.
“It’s not a development opportunity,” Barrack said in an interview last week at Bloomberg’s Los Angeles office, adding that it would be “very, very difficult” to rezone Neverland. “It’s not Graceland. It’s not a subdivision.”
Rising Prices

Real estate values in California are surging. The number of homes in the state selling for more than $2 million set a record in the second quarter, while sales of residences for at least $1 million were the highest since 2007, property-information service CoreLogic DataQuick reported today.
“Luxury-home buyers have substantial assets, and they’re constantly evaluating where to park those assets,” Andrew LePage, a DataQuick analyst said in a statement.
Prices for real estate in the Santa Barbara area, especially higher-end properties, have recovered to almost their pre-bust peak in 2007, according to Thomas LePley, a broker associate with Berkshire Hathaway HomeServices. LePley, whose Los Olivos office is about 6 miles from the Neverland gates, said he hadn’t heard the ranch is on the market.
Cleaned Up

“I’d say it’s worth $35 million to $50 million, depending on what they do with it,” he said in a telephone interview. “Barrack has cleaned it up and returned it to perfect condition. It had been neglected.”
The Jackson estate is “saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael’s lifetime, Colony has the right to sell,” the estate said in an e-mailed statement. “We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property.”
Jackson’s record sales were led by his 1982 album “Thriller,” which along with The Eagles’ “Their Greatest Hits” tops the Recording Industry Association of America’s all-time best-selling list at 29 million copies. Within 18 months after his death, his estate reported that it collected $310 million from music, merchandise sales and its share of publication rights on a music catalog that includes songs by the Beatles, Elvis Presley and Jackson himself.
Colony Capital, founded by Barrack in 1991, has about $20 billion in assets under management, with investments in real estate, mortgage financing, casinos and the film company Miramax.
Neverland Ranch “has not only the beautiful spirit and softness of Michael, but a legacy of a thousand years of Indian culture that had transacted upon it,” Barrack said in a 2011 Bloomberg Television interview. “So we’ve just been restoring it, renovating it. We have not really wanted to do anything commercial with it.”


Sorry leute, kann den ganzen summs nicht übersetzen ...


__________________________________________________ ________________________________________________

Ich bin nach wie vor sehr gespannt, wie der prozess des MJEstate gegen Tohme Tohme ausgeht.