Burkle is also the co-founder of Yucaipa Companies, an investment company.
Neverland Ranch is named after the fictional “Neverland” and the story tells the story of a boy who will never grow up, Peter Pan. In 1987, Jackson purchased Dreamland for $19.5 million.
This 2,700-acre estate once contained 22 buildings, including a recreation room and a zoo that accommodated elephants, giraffes, orangutans and Jackson’s chimpanzees.
Jackson died in 2009 from what the Los Angeles County coroner called “acute propofol poisoning.” His doctor, Dr. Conrad Murray, was sentenced to less than two years in prison in 2011 for unintentional homicide related to Jackson̵
Prices keep falling
At that time, agent Kyle Forsyth shared the listing with Suzanne Perkins.
He said the property was banned for sale due to wildfires and mudslides in nearby Santa Barbara, California. The property contains nearly 12,000 square feet of Jackson’s main house where Jackson has lived for 15 years.
“Everyone generally retreated for about a year,” Forsyth said in 2019.
CNN has contacted Perkins and Forsyth, but has not received a response.
The property is now called Sycamore Valley Ranch (Sycamore Valley Ranch) and is jointly owned by Jackson Real Estate and a fund managed by Colony Capital, a real estate investment trust company.