The property spans about 2,700 acres and has about 22 structures on it, Ms. Perkins said. The Normandy-style main house, which sits between the property’s two lakes, measures about 12,000 square feet, with six bedrooms plus an attached staff quarters. There’s a four-bedroom guesthouse near the main home and a two-bedroom guesthouse a little farther away. There’s also a swimming pool with a cabana, a barbecue area, basketball court and a tennis court. A 50-seat movie theater has a private viewing balcony, and a stage includes trap doors for magic shows.
Mr. Jackson paid $19.5 million for the ranch in 1987 and lived there more than 15 years. Amid financial struggles, he defaulted on a $24.5 million loan backed by the ranch. Real-estate investment firm Colony Capital bought the note in 2008 for $23 million and put the title into a joint venture it formed with the pop star. Colony spent millions on upgrades, intending to eventually sell it.
Acknowledging Mr. Jackson’s many enthusiastic fans, the listing agents warned they will be doing “extensive prequalification” of potential buyers before showing the property. “Our seller is not encouraging a lot of showings,” Mr. Hyland said. “We’re not going to be giving tours,” Ms. Perkins added.
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Article courtesy of Candace Taylor, Wall Street Journal