C

Colony Capital to sell Neverland

Started by curls, July 31, 2014, 02:24:36 AM

Previous topic - Next topic
Print
User actions
The first post content
http://www.mjjcommunity.com/mj-estate/from-the-estate-colony-capital-to-sell-neverland-ranch


Hi:

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™
禪   Link

iamhere4mj

September 10, 2014, 11:09:19 PM #30

When I first heard the news I was pretty sad but then I started thinking.

I have always wondered why Michael would have been in a joint venture with a place that he swore he would never return to. Why not just sell Neverland to Colony Capital and be done with it?

I have done a lot of digging on Neverland and also have some first hand knowledge (legal document for one) that in my opinion tells us Michael did not want to sell Neverland then (foreclosure in 2008) or ever and sought help financially to keep it.

When this current news came out I went digging again to see if I could find anything new and I think I may have.

The joint venture that is involved with Neverland is called 1224 LLC - on the internet you can find info stating that this company is a member of the Sycamore Valley Ranch Company which is now the legal name of Neverland. 1224 LLC is also on the Colony Capital website and it shows a pic of Neverland. All of this info has been around since the foreclosure.

Anyway, the new info that I found was that 1224 LLC was actually formed on Dec. 28th, 2007. If this is the same 1224 LLC that is part of the joint venture why was it created 6 months prior to Colony Capital getting on board to 'save' Neverland from foreclosure in 2008?

Now this piece doesn't have anything to do with the sale of Neverland but did you know that there is a tunnel at Neverland? I found that out in the document that I have. Michael loved secret passage ways.

I just find it odd that the Estate won't buy out Colony Capital but will buy Katherine a home in Calabasas and restore and pay for Hayvenhurst.

Love you Michael!

User actions
Print
Pages 1 2 3

Similar topics (5)