Thomas Barrack, chairman and CEO of private equity manager Colony Capital, is keeping quiet for now on the details of the firm’s stake in Michael Jackson’s Neverland Ranch in Los Olivos, Calif.
Owen Blicksilver, a spokesman for Colony, declined comment concerning the future of the property now that Mr. Jackson has died. Colony purchased a $23.5 million loan on the ranch from Fortress Investment Group in May 2008, which halted foreclosure on the property.
