Michael Jackson’s Neverland Ranch, otherwise known as Sycamore Valley Ranch, was a long time selling.

The property which had been the retreat of the pop icon since the 1980s was listed by his estate in the spring of 2016 with a $100 million asking price. The place is an ideal spot for a resort or a corporate asset—it was even floated to the State of California as a potential State Park—but the controversial nature of Jackson’s life seemed to affect the property’s appeal; as a result, over five years elapsed, and several steep price cuts were levied. The ask was chopped down to $67 million, then to $31 million, before a buyer stepped up to claim the estate as their own.

The buyer was none other than investor Ron Burkle, who over the past few years has accumulated several historically important residences that have, for one reason or another, languished on the open market and consequently been available for a relative pittance. The list includes a pair of homes once owned by Bob Hope—including the Lautner-designed ‘Mushroom House’ in Palm Springs, which initially listed at $50 million before selling to Burkle for $13 million—as well as Frank Lloyd Wright’s ‘Blade Runner’ Ennis House, which Burkle picked up as a dilapidated but architecturally significant wreck for $4.5 million in 2009, restored, and sold in 2019 for $18 million.

Meanwhile, back at the ranch…Burkle paid $22 million for Neverland, according to the Wall Street Journal. The property encompasses 2,700 acres in Los Olivos, and includes a series of residences designed in various styles that culminates in a six-bedroom, 12,600 sq. ft. chateau. The estate also features stone arch bridges, a lake, and a railroad or two.

What Burkle plans to do with the property should stir genuine curiosity. Although the answer is likely a mundane one: hold it, or parcel it out.

Burkle’s net worth is north of $1 billion.