Michael Jackson Avoids Foreclosure, Neverland Ranch Note Sold to Colony Capital

Michael Jackson today announced that the foreclosure sale of his Neverland Ranch property scheduled for this week has been canceled by Colony Capital, LLC, which just acquired the existing loan on Neverland Ranch from an affiliate of Fortress Investment Group.

Mr. Jackson said, “I am pleased with recent developments involving Neverland Ranch and I am in discussions with Colony and Tom Barrack with regard to the Ranch and other matters that would allow me to focus on the future.”

Source: Business Wire

Net News Publisher