Colony Capital, the company that bailed out Michael Jackson by buying his mortgage on Neverland Ranch, has increased its ownership of the King of Pop’s abode. It’s now jointly owned by both Jacko and Colony Capital and will change its name to the Sycamore Valley Ranch.
TMZ: According to official documents, the title to Neverland was transferred Monday to a company called Sycamore Valley Ranch Company LLC. Now here’s where the plot thickens.
Sycamore is a joint venture between Michael Jackson and a division of a company called Colony Capital. Colony Capital owns the Las Vegas Hilton, the Red Rock Country Club, and other Las Vegas properties…
The man behind Colony Capital, Thomas Barrack, Jr. is a Vegas mover and shaker, and there’s a buzz in Vegas that Jackson could end up performing at the Hilton and living in the Red Rock Country Club. In fact, we reported this earlier in the year.
So now, Neverland is owned by both Jackson and Barrack’s company. Will Jacko perform at Barrack’s hotel? Stay tuned.
BTW, we were told the property will NOT BE CALLED NEVERLAND ANYMORE. It will be renamed the Sycamore Valley Ranch, in an attempt to erase those pesky child molestation rumours, even though Jackson was criminally acquitted.
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