Foreclosure Said to Be Averted at Neverland

By Staff Reporter of the Sun
May 12, 2008

Michael Jackson said Sunday that the foreclosure sale of his Neverland Ranch has been halted after a loan on the property was purchased for a reported $23.5 million by the real estate investment firm Colony Capital. The 2,700-acre Santa Barbara County, Calif., property — home to a zoo and a theme park — had been slated to be auctioned off Wednesday.