"He is buying a 2,700-acre ranch in the Santa Ynez Valley for about $28 million and a small hotel nearby, for his entourage, for $5 million, say several real estate sources. The pop star was looking at Hope Ranch in Santa Barbara but needed a more rural environment for his menagerie. At last count, he had monkeys, llamas, snakes, birds and just about every kind of farmyard animal except a cow at his 1-acre Encino compound."
"They will have plenty of room to stretch on the remote Sycamore Valley Ranch, which is being sold by William Bone, developer of the PGA West resort in Palm Springs and scores of condos in the desert. Besides the clubhouse, the property has a huge house on a 32-acre home site and 50,000 oak trees."
"Bone was asking $32 million, and turned down Jackson's original offer of $17 million. Escrow hasn't closed yet on the $28-million sale. There is no news yet on whether Jackson will sell his Encino home, which he expanded in 1982."
Michael Jackson is acquiring Sycamore Valley Ranch, a 2,700-acre property in Santa Ynez Valley, for approximately $28 million, along with a small hotel nearby for $5 million to house his entourage. The purchase accommodates his large menagerie of animals, including monkeys, llamas, snakes, and birds, which cannot fit at his current 1-acre Encino compound where his family has lived since the 1960s. The ranch, previously owned by developer William Bone, features a large clubhouse, a main house on 32 acres, and 50,000 oak trees. Jackson's original offer of $17 million was rejected before the final $28 million agreement was reached. The status of his Encino home, which was significantly expanded in 1982, remains undetermined.
Read at Los Angeles Times
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