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Michael Jackson’s Neverland Ranch in California has found itself another proprietor in tycoon finance manager Ron Burkle. Burkle sees the 2,700-section of land property in Los Olivos, close to Santa Barbara, as a land banking opportunity, his representative said Thursday in an email.

The Wall Street Journal reports the property was sold for $22 million to Burkle, a partner of the late pop star and fellow benefactor of the speculation firm Yucaipa Companies. The requesting cost from the property was USD 100 million out of 2016 at that point dropped to $67 million every year later.

Notwithstanding a 12,500 square-foot primary home and a 3,700 square-foot pool house, the property flaunts a different structure with a 50-seat cinema and a dance studio. Different highlights on the farm are a “Disney-style” train station, a fire house and horse shelter.

Burkle’s representative said the tycoon had been peering toward Zaca Lake – which abuts the property – for another Soho House, an individuals just club with areas in Los Angeles, Miami, New York and Toronto. Burkle eventually chose the area was excessively distant and costly for a club.

Burkle is the controlling investor of Soho House. After Burkle saw the property from the air, he put in a proposal to buy.