Regency is the curated biannual journal for inspired innovation in real estate and lifestyles for a discerning global population segment of pioneers, seekers, wanderers, creators, and leaders.
spring n summer 2025 inspired innovation n real estate & lifestyles r e g e n c y
footprint the we make
INSIDE ideals impressions innovation
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r e g e n c y inspired innovation n real estate & lifestyles spring n summer 2025 the curated biannual journal for a discerning global population segment of pioneers, seekers, wanderers, creators and leaders. ADVISORY COUNCIL the advisory council is an unpaid informal collective of thought leaders who provide The Horswell Collection™ with a global perspective on trends, market conditions, and themes of importance to the demographic. Affiliations are for the purposes of identification only. JUTTA ALLEN | CHAIR Arts Patron Portland, Oregon SUSAN MATHESON FERRIS | VICE-CHAIR Public and Government Affairs Counsel Edina, Minnesota RICHARD J. HORSWELL Principal Creative Executive, Regency Media LLC Portland, Oregon DEMETRA ARISTON Private Investor Portland, Oregon BARBARA BALL Vice President, Business Development, WFG National Title Portland, Oregon CONSTANCE C. CRASS VP, AmeriCold Atlanta, Georgia ARGENTINA ERDMAN Consul & Cultural Attaché to Chicago Emerita, Estados Unidos Mexicanos Portland, Oregon JEAN EVES Community Leader
Richard J. Horswell Editor & Publisher
w e l c o m e
In review of 2024, and in the spirit of optimism, I have decided to consider 2025 as “The Year of Hope.” That reference is as far away from the political spectrum as can be, as it reflects moreover on the state of flux that the human condition has experi- enced in the past several years since the pandemic era. For the demographic, it also makes us curious about this issue’s thematic implications of “the footprint we make.” It sparks a thought back to President Ronald Reagan’s reflection to friend and reporter Mike Wallace on the last American leader he had a good deal of faith in. Reagan cited Franklin Delano Roosevelt, noting, “the greatest leader is not necessarily the one who does the greatest things. He is the one that gets the people to do the greatest things.” One way to ignite an optimistic framework is to live forward and not dwell in the past. While remembering events or circumstances that shape the current framework is helpful, those memories also provide context to shape future decisions. The informa- tion in this news source is never a directive, it is with a sense of hope that an article or partner showcase can inspire our readers in some meaningful way. UBS’ Billionaire Ambitions Report 2024 suggests that “since the Covid-19 pandemic... they increasingly want their wealth to have a positive impact on the world.” Further, “they appear highly motivated to use all their resources - through philanthropy, in- vestments, and business - to benefit the planet and society.” If that doesn’t provide an excellent primer for how a select group of leading citizens intend to help curate opportunities to make a difference, I’m unsure what can motivate all of us to analyze our own personal footprint of what we offer this place that we share together. I constantly challenge myself to think about choices and ground my thinking in the belief that everyone is asked at the end of life, ‘what did you do to make this world a better place?’ And, that the response can echo our continued hope that our audience will “ not just live, but live well. ”
Lake Oswego, Oregon SHANNON K. HAWKINS Principal, Hawkins Investment Properties Vancouver, Washington DEBRA KRAFT LIBERATORE Community Leader Sarasota, Florida WILLIAM B. LONG III, MD FACS Trauma Medical Director, Legacy Emanuel (Ret) Portland, Oregon DANIEL MERRIMAN Stoller Tualatin, Oregon JEFFREY L. MILLER, AIA Principal, Jeffrey L. Miller Architect, P.C. Portland, Oregon JULIANNE HOWA MORRIS CEO (Ret), Willamette Communications Portland, Oregon MARY O’CONNOR Arts Patron Portland, Oregon MUFFIE LATOURETTE SCANLAN Real Estate Broker Scottsdale, Arizona & Portland, Oregon CATHLEEN SMITH Professor Emerita, Psychology, Portland State University Portland, Oregon
COVER View from 677 Nimes Road, Los Angeles Joyce Rey brings a fresh take on this storied street of notables to life with a new concept in entertainment lifestyle.
REGENCY MEDIA LLC private advisory
Publisher | Portland, Oregon www.regencymediapartners.com
This issue is dedicated to the memory of Dr. Joseph Matarazzo, a former member of the Advisory Council. Appearance by any individual, organization, or business featured within this folio does not constitute an endorsement of any service offered by either Regency Media LLC or The Horswell Collection™ at Windermere Realty Trust, a separate entity. Content contained herein is presented at the sole discretion of Regency. Regency has a strict policy prohibiting advertorial. All content is by invitation. Reproduction of content in whole or in part is strictly prohibited without the express permission of the publisher. Special thanks to Cameron Perkins Photography for capturing the essence of select personas
CAROLYN STEVENS Community Leader Portland, Oregon SHIRLEY TONG Tong Ventures Vancouver, Washington
within Regency in addition to our corporate and organization partners who are valued contributors.
© 2025 Regency Media LLC, All Rights Reserved
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ONLINE
HO’OMAIKA’I ‘ANA at 61 Real estate investor Charlie Pietsch obtained a lease in 1959 from the Bishop Estate, including the golf course with an extension of 15 acres on the opposite end. Flying to Los Angeles, he put together a 50/50 deal with friend Conrad Hilton - and the Kahala Hotel & Resort was born in 1964. Architects Killingsworth, Brady, and Smith of Long Beach, California origi- nally designed the property. Their practice was largely influenced by Kill- ingsworth’s style: horizontal structures that elegantly incorporated post- and-beam construction, open floor plans, glass, concrete, flat roofs, and soaring entrances. The legendary resort has been Oahu’s haven of amenance and ‘informal elegance’ for 61 years - situated at a secluded and pristine oceanfront locale just minutes from Waikiki and in close proximity to Black Point. Clas- sic, yet uniquely contemporary, it contains 338 rooms with incomparable views of the Pacific Ocean and Ko’olau Mountain Range; exceptional cu- linary experiences at its five restaurants; and bespoke treatments that in- corporate elements of native Hawaiian healing methods at its award-win- ning Kahala Spa. Since its opening, The Kahala Hotel & Resort has hosted for accommo- dations or held events for every American President from Lyndon Baines Johnson to Barack Obama, legions of foreign royalty and dignitaries, a plethora of cinema and rock stars, and His Holiness the Dalai Lama.
PHOTOS (TOP): Kahala Hotel circa 1964, Oahu, Hawaii © J. Paul Getty Trust. Getty Research Institute, Los Angeles (2004.R.10) Julius Shulman, 1910-2009, was an active architectural photographer from 1936 until 1986. Representing his career, the ar- chive documents the modern movement in architecture spanning several decades and serves as a historical record of the Southern California landscape. Shulman’s prolific career has helped to pro- mote and broaden the knowledge of modern architecture by the thoughtful manner which he conveyed architectural design. (INSET): Kahala Hotel Lobby present day, © Kahala Resort; Ladies in the Sand at the Empire Steak House atop the Ilikai, Waikiki. ACROSS TOWN Our ladies in the sand , Marge Becker and Mimi Thies, find refuge in The Ilikai at Empire Steak House, a concept built on the nearly 40 year journey of the Sinanaj brothers - Russ, Jack, and Jeff. With their favorite bartender Pho, they’ve explored a plethora of mixology delights including the beloved Empire Martini from their 30th floor perch of the old “Top of the I.”
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xxx xxx It is said that the border of a rug is a virtual frame where an artistic pala- ette can thrive through the introduction of a variety of colors, patterns, and textures. By using the artform of rug design to open the horizons of her clients during the past 25 years, Christiane Millinger strikes a nur- turing balance between shaman and instructive realist to search through emotions in discovering how to imprint individuality on a space. While her work spans three decades of interpretive excellence in de- sign, she admits that her former self as “idealistic rug conservator and collector has somewhat changed.” In evolution of the process, conver- sations are prominent in molding the design path and selection of rugs. By keeping the highest standards and fair labor practices at top of mind, DANCING through WINDOWS
she is reminded of the gratitude she has for the worldwide syndicate of individual artisan weavers. As her creations and collaborative spirit have enriched spaces like the three Michelin-starred Eleven Madison Park restaurant in New York City, inspiration has come from the natural beauty of the Oregon Coast as well as ancient design interpretations she has colorized. Millinger’s client roster is the global citizen who demands curated excellence. Each relationship sparks a new choreography in design, and Millinger’s gentle authority continues to welcome clients in a collective sprint through the window of uncharted territory where the spirit of storytelling and invention is limitless.
Christiane Millinger in her boutique gallery Frame courtesy Katayama Framing PHOTO: Cameron Perkins Photography
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A GLOBAL PIANO EXPERIENCE
Visit our showroom at 3003 SE Milwaukie Ave in Portland to see, hear & play an extraordinary selection of new and used pianos from the world’s greatest makers
Model shown: Bösendorfer Cocteau, Collector’s Item Artist Series
503–239–9969 CLASSICPORTLAND.COM
A mere 2.4 miles from its numerical political cousin at No. 10 in Westminster, Michelin-starred KOL Restaurant’s thoughtful rise to its standing as No. 17 on the World’s 50 Best Restaurants List is an independent one not usually taken on the trek to the culinary red carpet. Memo- ries of Mexico re-imagined with British produce create a culture rooted in both tradition and innovation. Celebrating the Mexican culture’s vibrancy and heritage through a nostalgic and contempo- rary lens, Chef Santiago Lastra was raised just south of Mexico City in Cuernavaca. For him, cooking has always gone hand-in-hand with research - having originally wanted to become a mathematician rather than a chef. Beginning his path at 15 working in an Italian restaurant, he went to Spain at 18 after being offered an internship at Michelin-starred Europa Ristoran- te in Pamplona. Inspired by the social impact restaurants could make, he decided that his future belonged in one rather than a research lab. Opening KOL in 2020, his invention managed to merge the roots of Mexico and its culture, inspiration, and flavors with the native produce of Britain. Replete with a main dining room and a Mezcaleria which features London’s most unique collection of mezcals, tequilas, and other Mexican spirits, the Chef’s Table is its private dining room inspired by the grand hous- es of Oaxaca. As KOL evolves, it has fostered the development of new talent at the hands of General Man- ager Edie Jobson. Josephine Appleyard’s journey from Portland, Oregon to London began with her undergraduate work at King’s College. Majoring in French and English/Philosophy, she calls her introduction to KOL a “serendipitous thing.” As part of the restaurant’s Som- melier Team, she is studying the 1,000-bottle wine inventory while having “conversations during the dining experience as an advocate for the palette of each guest.” Featuring only Old World German, Austrian, and Italo-Slovenian producers known for wines with bright acidity and energy, the staff’s technical excellence is only augmented through its “accessi- bility and pure enthusiasm.” Celebrating two years with KOL, Appleyard acknowledges that she will continue to learn and respect her role within the greater ecosystem of the restaurant. “I’ve loved the pas- CALLING ON No. 17, London
sion-first mentality of our team,” she says. “Our culture here is based on sharing - and that is one of the main ingredients of excellence that Santiago has instilled in all of us.” More information at: kolrestaurant.com
PHOTOS: Restaurant - Charlie McKay; Santiago Lastra - Rebecca Dickson; Cuisine Insets - Anton Rodriguez; Josephine Appleyard - self.
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969 SW Broadway, Portland, OR, 97205 Tel: 503-223-4976 / 1-866-855-4976 (toll free)
Email: info@johnhelmer.com Web: www.johnhelmer.com
Celebrating for over a century. Headwear / Clothing / Accessories
NAILING IT
Audacity is a noble trait in the making of art. However, it takes on an even more sublime character when it comes to placing, lighting, or hanging the product. Collectors are normally guilty of buying with an extreme velocity as passion-filled lovers of the visual. The sensible collector, however, often has a skilled team behind the scenes to appropriately accentuate tastes through the science of cre- ating the desired impact for both a piece as well as its owner. John Huff’s mastery of accomplishing the objectives of his clients has propelled him from talented gallerist and framer to close advisor and intentional visualist. As the principal of Thornton Art & Design, his work can be seen throughout the Pacific Northwest as he creates spaces that combine the collector’s vision and practical design sense. As art seeks to inform, the hanger lingers on the delivery of cohesvive harmony and a unification of intended message.
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PHOTO: Cameron Perkins Photography
Super Tourer
REDEFINED
ASTON MARTIN DB12 VOLANTE An icon reborn. Smoothed and chiselled into the shape of a Volante and given free rein to cut through continents, erase expectations and completely redefine the open-top category. Making a West Coast appearance at the Santa Monica Pier.
PHOTO © Aston Martin 2025
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RAY OF LIGHT
Quiet and understated in demeanor, Bill Ray has been at the epicenter of creat- ing educational opportunities in the arts from a young age. The native Klamath Indian Tribal member was placed in the foster care of the descendants of a pio- neer family in Estacada who had originally homesteaded the land in the 1860’s. “We were encouraged to learn the arts and explore singing, dancing and musical instruments,” Ray shared. “Along with that came the rhythm of weaving, a love for textiles and jewelrymaking.” That youthful spirit of exploration carried with him into adulthood. After studying at Oregon State University and the University of Oregon, he made a life out of education for the Native American communities as an advocate for tribal Nations. Enabling others to become passionate about the arts frames how he has navigat- ed through his 81 years. His first wife, Eleanor Lieber Ray, was an heiress of the Corning family dynasty. He helped her plan an endowment for an award compe- tition with Portland Opera for young talent auditions which paid special tribute to her late husband, Opera Singer Dean Lieber. He met his second wife Lawretta at Oregon’s Dorchester Conference in 1994. They established Indian Art Northwest in 1998 as a two-day event in Portland with over 200 Native artists. They also acted as Oregon District Directors for the Metropolitan Opera National Council’s Auditions. “Life’s balance should not lopsided,” he smiled. “When you reach my age, you’ve done what you’re able to do and now it’s nice to watch how the contributions play out.”
Fishing at Celilo: A mural backdrop at Portland’s Sentinel Hotel.
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A PERSONAL ACCOUNT: ONE DECADE LATER ’ About 400 of us settled into the seats at our tables within the Rodeo Ballroom of the Beverly Hills Hotel for a new conference, Inman’s 2015 Luxury Connect . While I’ve long since abadoned the word “luxury” to describe anything of prominence or value, it was apparent that the attendees and the clients they represented were at the epi- center of the definition to what luxury meant at that particular point in time. I was cloaked in secrecy as an attendee not being a real estate agent or a broker as I was vice president of a title company in Portland and had launched a “private client group” to serve the exact demographic of the Realtor® audience before me. The room fell silent and the founder of real estate’s most powerful news platform, Brad Inman, set the tone and introduced one of the first speakers. A stylish woman with obvious purpose strutted onto the stage and approached the dais. Without hesita- tion, she proudly proclaimed, “I can outsell anyone in this room.” I can outsell anyone in this room. ‘ That is a bold statement to make in front of the top industry producers worldwide, but Douglas Elliman’s Vice-Chair Dottie Herman made it look easy. She was celebrating the company’s expansion into the Beverly Hills marketplace and her fearless vibrato was met with a collective gasp. My indoctrination to an entirely new level of friendly competition between the titans of premier properties of note was complete. We’ve all had those experiences professionally and personally that are once-in-a-life- time moments that can never be replicated. This was one such event for me. To top off her award-winning salesmanship for the virtues of her company, Dottie hosted a party that evening at Owlwood, the northernmost estate on the Los Angeles Country Club for sale at the time for $150 million that once belonged to Sonny & Cher. Like most conferences, they are what you make them to synthesize into actionable items during the seminars to benefit clients. What Inman events excel at is connect- ing top-tier real estate professionals in authentic networking situations - and this set- ting was beyond ideal being a relatively new concept for an event that began in 2014 in a private Bel Air residence with Ariana Huffington offering the keynote. When presented with the star-filled mix of those in the industry whom you admire, it’s easy to forget that everyone at the conference is still just as human as the next. However, these professionals at the top of their game in production and seasoned personalities on television were as just about as ‘real’ as one could have hoped for. In fact, I’m still in contact with most of the individuals I met 10 years ago to this day. Watching the interactions and the positioning at Luxury Connect was another tan- gible takeaway. My colleague Blake and I were the only Oregonians in attendance. Our contributions on the market in Portland were valuable to others which made us a part of so many conversations: a chance meeting with Josh Flagg included trading stories about our grandmothers; Mauricio Umansky’s closing-night soirée included mermaids swimming in the pool at a spec house on Sierra Alta Way; Roh Habibi’s kind persona was reflective of his total client-first attitude; Brad Inman’s getaway to the Polo Lounge after speaking resulted in a great conversation that introduced me to a now-mutual friend Pat Stone, chairman of WFG National Title who previously sat on his Board of Directors; and, I finally got to meet one of the most celebrated social media personas in the real estate space whom I had corresponded with for years on marketing prior to becoming a dear friend, Christophe Choo - setting the stage to visit his $18.8 million Mapleton Drive estate listing ( Mommie Dearest movie backyard set and my favorite home in the area) on the day it went into escrow that next year. Seeking out and cultivating relationships has been valuable within my real estate practice. My former employer Cristie said the other day, “you create access.” Build- ing the fundamentals of exceptional client experiences begins with connectivity.
DOTTIE HERMAN VICE-CHAIR EMERITA | DOUGLAS ELLIMAN
MAURICIO UMANSKY FOUNDER & CEO | THE AGENCY
ROH HABIBI SOTHEBY’S
JOSH FLAGG COMPASS
BRAD INMAN FOUNDER | INMAN NEWS
CHRISTOPHE CHOO COLDWELL BANKER GLOBAL LUXURY 2015 INMAN LUXURY CONNECT BEVERLY HILLS HOTEL
Richard Horswell is publisher and editor of REGENCY Magazine and a broker at Windermere Realty Trust in Portland, Oregon. He is also a contributor for Inman and previously served on its Luxury Connect Advisory Commitee after attending the conference.
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FIRST PERSON with KAAREN HARPER
allure of choice
What is it about diamonds - they are, after all, just rocks. But these rocks have been coveted for centuries long before modern market- ing. Since about 2500BC these precious stones have been at the heart of legends and myths across the world, associated with the vir- tues of strength, wealth, power and, of course, love. The Path of Nature The first diamond discovery is believed to have occurred in India around 2500 BC. Initially, diamonds were not valued for their bril- liance, instead valued for their near indestructibility and were used in tools. But it didn’t take long before they were being mounted in statues and in jewelry. India was the only source of diamonds for centuries - yielding some world famous stones including the The Great Mogul, the Koh-i-Noor, and of course the Hope diamond. The prized jewels found their way to the Roman Empire and China starting about 322BC. In ancient India it was believed that diamonds were made when light- ning struck. And it was believed that diamonds offered the wearer protection and the ability to ‘see’ future dangers. The ancient Greeks believed that diamonds were tears from the Gods and were thought to be mystical and powerful stones that affected the heavens and the hearts. The word diamond is derived from the Greek word ‘adamas’ meaning unconquerable or indestructible. The reality of diamond formation is as magical as the myths. The earth has literally given birth to these wonders of nature. Formed between 2-3 billion years ago deep within the earth’s crust the intense heat and pressure caused carbon to crystallize. They are formed at depths of approximately 150-200 km below the surface where temperatures average 900-1300 celsius and the pressure is 50,000 times that of the pressure of the earth’s surface. Along with the diamond bearing rock is molten lamproite and kimberlite that form magma. This mixture pushes up through the layers of the earth forcing its path to the surface. These jewels born of the Earth are limited and the volcanic activity that created them will not create any more. With an origin so unique, no two natural diamonds are alike: each found through a journey all its own. [Capetown Diamond Museum]
The Path of Man-Made On the other hand, lab-grown diamonds can be produced in virtually unlimited quantities, through Chemical Vapor Deposition (CVD) or High Pressure High Temperature (HPHT) processes. With modern technology, lab diamonds can be created in any carat weight, color grade, or clarity grade, making them more affordable than natural stones. The price of lab-grown diamonds is primarily determined by production costs and profit margins, rather than rarity, thus they are significantly less expen- sive and their price continues to drop dramatically. [Paul Zimnisky, analyst 2022] Though certainly a marvel of human ingenuity, laboratory-grown dia- monds are not identical to natural diamonds, despite their similar ap- pearance. Lab-grown diamonds are mass-produced in factories, primari- ly located in China, India, and Singapore. The rapid, artificial production process results in distinct chemical compositions and growth patterns that differ from those of natural diamonds. These unique characteris- tics make lab-grown diamonds easily detectable by experts or with spe- cialized equipment. While they may look almost identical to natural di- amonds to the naked eye, their internal structure and formation process are not the same.
[Natural Diamond Council] So, which do you choose?
Do you marvel at the geological wonder of Mother Nature’s craftsman- ship and respond to the whisper of ancient history? Do you marvel at the technological feat of man bringing forth in days what took nature millennia to produce? Whether it’s their strength or rarity, supernatural abilities or links with purity and power, diamonds have both a real, and intangible appeal. The myths that have transcended time help understand our endearing appreciation of diamonds—as gems that are valuable not just for their sparkle and shine, but for the stories they hold. Kaaren Harper is founder of Layneau, an atelier with an international client base including members of the demographic. Noting that beauty and strength come from self-love which ultimately fuels quality design, she channels the belief that dressing is as much an act of art as it is of mutual respect. Prior to launching Layneau, she was co-owner and chief creative officer for a prominent niche jewelry design house.
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SUNNYLANDS
A LEGACY
Sunnylands emerged onto the world stage when the historic Rancho Mirage estate was completed in 1966. It has since wel- comed eight U.S. presidents and world leaders, noted intellectuals, celebrities, and friends and family. On many occasions, guests have engaged in dialogue that led to efforts to enhance international under- standing and civil discourse. For more than 40 years, Ambassadors Wal-
Sunnylands is named for the Annenberg family home in Pennsylvania. Its sun em- blem was commissioned in the 1960s. The 25,000-square-foot house and 200 acres were designed by Southern California ar- chitect A. Quincy Jones. The estate also includes three cottages also designed by Jones; eleven lakes; a tennis court; and, a Dick Wilson-designed nine-hole golf course, which also plays as an 18-hole course. De- signers Tim Jackson and David Kahn re-
Lake view of the historic house. Photo by Sibylle Allgaier. Inset - The Reagans re- clining on the patio at Sunnylands. The Marine One helicopter can be seen in the background. December 31, 1981. Official White House Photo. All photos copyright The Annenberg Foundation Trust at Sunnylands
ter and Leonore (Lee) Annenberg welcomed political, business, educa- tional, and entertainment leaders to Sunnylands, their 200-acre winter home in California. In 2001, Walter (1908-2002) and Lee (1918-2009) signed a Declaration of Trust outlining their vision for the future use of Sunnylands and itemizing permitted programs. They directed that their beautiful estate be available to serve as a sanctuary for generations of high-level national and world leaders seeking the privacy, the peace, and “the pause” needed for solving the most pressing national and interna- tional issues. Since opening Sunnylands in 2012 to the public, the trustees and staff have created what the Annenbergs envisioned. In that same time, more than half a million visitors have enjoyed Sunnylands Center & Gardens and its offerings.
stored the course to its original design. Commissioned in 2008 by Lee, the 17,000-square-foot Sunnylands Cen- ter & Gardens designed by Frederick Fisher & Partners sits on a 15-acre parcel adjacent to the historic estate, and was completed in 2011. Fisher references the A. Quincy Jones-designed historic house in his use of lava stone walls, trellises, and floor-to-ceiling glass. An exhibition, Variations to a Theme: William Haines at Sunnylands , spotlights the custom-made furniture and interior décor and is on view at Sunnylands Center for the 2024–2025 season. More information at: sunnylands.org
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PASSION IN HD JOYCE REY’S L.A.
Not more than 350 feet south of Elizabeth Taylor’s former Bel Air property, 677 Nimes Road has surfaced across the way to artfully straddle the ridge of one of LA’s storied streets of notables. Offering extraordinary city views and an unrivaled indoor-outdoor entertaining space with an Olympic-sized pool, the 20,000 square foot home on nearly three-quarters of an acre is marketed by an equally-impressive real estate luminary. Additional amenities include a screening room with 4k D-ILA Precision projector, spa with sauna, incredible sound system, gym, and parking for over 50 cars. Outfitted with top-tier Miele and WOLF appliances, this es- tate features automated Fleetwood floor-to-ceiling doors and a self-play- ing Mason & Hamlin piano. Additionally, the gym is equipped with premi- um Matrix and Hoist machines to support a full range of fitness routines. With eight-foot privacy walls, comprehensive security cameras, and sen- sors throughout, this residence also offers both exclusivity and peace of mind. In a world of increased monitoring, the extras are welcome. The creative mind who brings such a passion to the dynamic is none other than Joyce Rey. With a careful and disarming persona, Rey’s steady hand and elevated expertise ensure the best outcomes for her clients. She has shifted the narrative about relationships in representation of properties with a conversational air that gingerly allows ideas to percolate toward solutions with natural intent. The former educator’s intuition regularly brings acclaim to the properties she markets. As a record-breaking, award-winning Realtor®, Joyce’s portfolio includes
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some of the most prominent and expensive properties in Beverly Hills and beyond - such as Owlwood, Pickfair, La Belvedere, Green Acres, and the Chartwell Estate. With over $6 billion in career sales thus far, local and in- ternational media has branded her as “The Grande Dame of Real Estate.” Rey has worked with numerous Fortune 500 and celebrity clients, includ- ing Sonny and Cher, Lionel Richie, and Taylor Swift. At the core of her success is a caring and hardworking attitude, which manifests across several facets of her professional and personal life. Aside from her pioneering work in real estate, she is also known for supporting a wide range of philanthropic causes and community building initiatives. Joyce is a consistent advocate of women’s empowerment, children’s wel- fare, and affordable housing for low-income communities. Client and Grammy award-winning Richie notes, “It is so wonderful to have someone represent my interests with such a passion for detail and great professionalism.” With a golden anniversary in her career vitae, Rey cer- tainly continues to soar in the real estate world by giving back to the pro- fession by constantly reinforcing best practices within the marketplace. While 677’s seller remains confidential, Bel Air is vocal about its advocacy for Rey’s panache in sales. “She has represented me both as a landlord in Bel Air and a purchaser, and throughout demonstrated her unparalleled commitment to her clients, the utmost in integrity and loyalty, incredible patience and the wisdom of a true professional in this line of work,” says Amir Mossanen, former chair of the Bel Air Association’s long range plan- ning. “In the land of those who wish to make a quick sale, Joyce’s moral compass always knows where to point.” DETAIL: 677 Nimes Road, Los Angeles, CA 90077 Presented at $39,995,000 | Bedrooms: 6 | Baths: 11 Living Area: 20,000 sq. ft. | Lot Size: 0.74 ac. More information at: joycerey.com
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STANDING PROUD: COMMUNITY LAND TRUST FORMULA
Proud Ground celebrated the power of community and the dream of making affordable homeownership a reality for families in Oregon and SW Washington on March 6 with a silver anniversary gala “Building Fu- tures” in Portland. The event hosted over 200 supporters at The Redd with TheCaseMade President & CEO Tiffany (DrT) Manuel offering the keynote address on changing attitudes and looking at issues through a refined lens. The organization is the largest community land trust in the Pacific North- west, helping more than 700 households become first-time homeown- ers. It operates as a membership-based organization, bestowing voting rights upon homeowners and donors in shaping organizational deci- sions. This ensures that the very community members it serves have a direct role in steering mission-driven initiatives. Community land trusts (CLTs) are nonprofit organizations that acquire and own land for community benefit, typically used to ensure long-term affordable housing and often through a ground lease where the land is held separately from the building and sold to income-eligible buyers.
Washington Trust Bank VP Mark Williams and Fidelity National Title VP Leah King with Dominique (Dom) Merriweather, Executive Director of Proud Ground. Keynote Speaker Tiffany (DrT) Manuel, PhD, Founder & CEO, TheCaseMade
With a mission to create permanently affordable homeownership oppor- tunities using the community land trust model to ensure multi-genera- tional stability, Proud Ground’s vision is to foster livable, equitable, and economically viable communities where every family has access to af- fordable homes in the community of their choice. As part of its strategic plan, 74% of new homeowners identified as BIPOC in 2024. Proud Ground is in the process of completing a multi-year campaign launched in 2021. The $5 million Opening Doors initiative will add ap- proximately 200 homes to its portfolio and is $300,000 from reaching its goal. The organization recently welcomed Executive Director Domi- nique (Dom) Merriweather upon the retirement to Diane Linn who grew the organization over a 10-year period. More information at: proudground.org
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“We give to help kids experience the outdoors, music and art they would otherwise miss in rural communities.” — RUBY & CECIL OCF DONORS SINCE 2016
[ OREGONIANS HELPING OREGONIANS ]
There are countless reasons to give, and endless causes to support, but what made Ruby and Cecil decide it was time to start a fund? “We have everything we need and a bit to share — and we saw a great gap in opportunities offered to kids in our area. So we decided to help fill it.” Says Ruby. Through OCF they started a fund, and now hundreds of kids are benefiting yearly from their sharing. We help people like Ruby and Cecil, and you, improve the lives of fellow Oregonians. Let’s get started.
LET’S GET STARTED | OREGONCF.ORG/GETSTARTED
Mary Jean Thompson, among other things, curates a personal collection of Chanel couture fashion that is rumored to be the largest of its kind in the United States.
VIRTUOSA With a guiding principle, “the only ceiling is the sky above,” Mary Jean Thompson’s impeccable style in the artform of living has resulted in a Renaissance existence that few have been able to match. The sheer drive in designing excellence in both her career and personal repertoire is a fabled and uncommon path. Thompson’s zeal for creation is apparent on many levels. Blessed with creativity that transcends numerous levels from her mastery of classical piano, personal style, interior design, and diplomacy, she has been a tireless advocate within each passion of her constellation. While a designer by trade, she pioneered and virtually invented the concept of trau- ma-informed design. With a lifetime of over $1 billion in portfolio projects, her work was based “in making healthcare environments accessible, not terrifying.” By creat- ing the original color palette of nurturing and healing colors that would “environmen- tally promote health,” Thompson’s brush would often reflect on defining a soothing nature for hospital interiors. Early on, she had to fight to actualize her design choices. In retirement, she refuses to rest on honors earned over her nine decades. A vibrant fashion-forward social being, she continues to fill her space with music from her Van Cliburn-signed Steinway piano, lecture to promote diplomacy through her post as Honorary Consul of the Principality of Lichtenstein, inspire the community through creativity, and enrich her social circle and city with unstoppable energy.
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PHOTOS: Cameron Perkins Photography
FLUIDITY [ en plein air ]
Benetti’s M/Y Legend yacht has an enchanting traditional aesthetic conjuring up the navettas of the 1960s while concealing technical and stylistic solutions that give the boat a contemporary feel. In staying true to the allure of that decade and to an elegance unaffected by changing fashions, the Motopanfilo 37M is also characterized by large, light-filled spaces, constant visual contact with the sea and broad ter- races that descend to the water’s edge. Claudio Lazzarini and Carl Pickering created interiors that embody the elegance of classic motoryachts, introducing a new fluidity across the internal spaces and the outdoor decks and bringing the surrounding natural elements – sea and sky – inside the yacht. Length: 120ft 9in | 10 guest / 7 crew | Max Speed: 17 knots
M/Y Legend has a Selective Catalyst Reduction (SCR) system , the tech- nology adopted by Benetti to reduce environmental impact, in line with IMO Tier III exhaust gas emissions standards. The yacht also has a dou- ble-capacity desalination plant so it can spend extended periods an- chored offshore; a fuel purification system for refuelling in exotic locations; a Starlink system to provide constant internet access; an upgrade to Miele professional appliances for problem-free chartering; and, is built to meet the charter requirements of the REG Yacht Code.
PHOTOS: Giuliano Sargentini © 2024-25 Benetti Yachts
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SUZANNE NANCE | President & CEO | All Classical Radio Media Arts Center Broadcast Studio PHOTO: Cameron Perkins Photography
UNDER AN (ALL) CLASSICAL INFLUENCE
All Classical Radio’s new Media Arts Center built in Downtown Port- land within the KOIN Center tower is a place where all are welcome to gather around the arts and share the stories of the community. In the organization’s next chapter, it builds on the strength of current offerings and a new home that includes a performance space. “All Classical Radio has evolved into a comprehensive arts and cul- ture network and is the most accessible source for music and arts programming in the region. We also provide a window for the world into Portland and vice versa,” says Suzanne Nance, President & CEO. Listeners have supported this service for over 40 years. Serving over 250,000 local listeners in Oregon and SW Washington, and mil- lions more who tune in online from 100+ countries around the globe, its reach is impressive. As an independent, community-funded radio station and multimedia platform with international reach, it has been providing access to classical music, outstanding performances, and engaging storytelling since 1983. Programming includes the MET Opera Saturday Broadcast with Dylan Bodnarik, The Score hosted by Edmund Stone, and Club Mod with Andrea Murray. “Over our airwaves, All Classical creates unique opportunities for connection and inspiration. I believe we will look back and see this
time as a profound and pivotal moment for the organization,” Nance notes. “We’ve seen some of our highest listenership rankings, and our second station designed for children, the International Children’s Arts Network is reaching more youth than ever.” ALL CLASSICAL STATS: Nationwide: All Classical Radio ranked the #1 highest perform- ing public classical radio station in the USA for market share (2023) Regional/citywide: All Classical Radio ranked the #1 highest performing public radio station in the Portland DMA for market share (2025) Market share means the number of active weekly listeners in the radio station’s designated market area, based on the size of the market population. Source: Nielsen Audio Growth: All Classical Radio’s overall number of listeners as more than doubled over the past 15 years Loyalty: For over 80% of the station’s listeners, All Classical Ra- dio is their first or only choice for radio listening
More information at: allclassical.org Tune in at: 89.9FM in the Portland, Oregon Market
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UHNW TRENDS in 2024 REPORT Wealth-X’s annual summary of the state of the Ultra-High Net Worth (UHNW) community includes an analysis of population trends for the demographic. UHNW is defined as a total net worth greater than $30 million.
SOURCE: Wealth-X, an Altrata Company Altrata’s World Ultra Wealth Report 2024
ECONOMIC LENS: NW PREMIER PROPERTIES
By JEFF TUCKER PRINCIPAL ECONOMIST Windermere Real Estate
While sales activity in both the Washington and Oregon markets remained below the overheated pace of 2021 and 2022, closed sales for above $1 million in both states remained far higher than any pre-pandemic years: 108% higher than 2019 in Washington’s NWMLS, and 190% more in Oregon’s RMLS. This growth has been driven by a perfect storm of factors affect- ing both supply and demand. More homes were listed for sale, including new construction, in 2024, especially at higher price points. Demand was buoyed by strong income growth, fading re- cession fears, and rare back-to-back annual stock market gains in excess of 20%, which delivered major wealth gains to investors. Real estate is an extremely attractive investment for high-net- worth individuals, combining financial benefits like lower volatil- ity and favorable tax treatment, with the intangible but priceless benefits of a home in which to make lasting memories. No other investment decision will impact a person’s quality of life as indel- ibly as buying the perfect home, and so it’s no surprise that as America gets wealthier, our demand for better real estate only grows.
The housing market began to normalize in 2024, after the roll- er coaster of the pandemic boom in 2021-2022 and abrupt cooldown in 2023. Now, 2025 looks poised to continue the hous- ing market recovery – particularly for sales of homes in higher price segments. In fact, across the Pacific Northwest, the growth in home sales for a million dollars or more was a major driver of overall sales growth in 2024. In the 23 Washington counties covered by the NWMLS, including all of Western Washington, there were 26% more single-family sales in 2024 priced above $1 million than in 2023 – but only 1% more sales below that price point. The RMLS, spanning much of Oregon and all of the Portland metro market, saw only 4% growth of single-family sales below the $1 million marker, and 16% growth above it. Digging deeper, if we examine sales by price tier in Washington, we can see that every successively higher priced segment had stronger year-over-year growth in 2024.
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An Evening Showcasing ‘Sense of Place’ Preservation Foundation of Palm Beach 43rd Annual Dinner Dance Over 400 guests gathered for the Preservation Foundation of Palm Beach’s 43rd Annual Dinner Dance, an enchanting evening that trans- ported attendees into a fantastical Addison Mizner courtyard, a tribute to the grand estates that define the island’s rich architectural history. This year’s Dinner Dance marks the Foundation’s most successful event to- date, raising more than $3.6 million.
This year’s theme invited guests to step into the world of Palm Beach’s past, evoking the elegance and allure of architectural masterpieces of the Mediterranean Revival style popularized by Mizner. The Preservation Foundation of Palm Beach continues to play a vital role in preserving and promoting the architectural integrity of the area, ensur- ing that the beauty and history of Palm Beach’s estates endure for future generations.
(Left to Right): Kathryn and Leo Vecellio; Co-Chairs Electra Toub and Betsy Shiverick with Peter Soros and Paul Shiverick; Martin and Audrey Gruss; Aerin Lauder, Mark Sikes and Julia Amory (PHOTOS: Capehart Photography)
medley Weekend Date . . . Take me to the Grand Tetons! p Fly into JAC and arrive at Jackson Hole Flight Services FBO (Reservations and PPR for overnight stays) p Check in at Jenny Lake Lodge , Signature Stay Package, Water Lily Cabin p Jackson Lake Lodge Standard Horseback Ride is a two- hour ride that climbs to the high ground east of Christian Pond. Reaching Emma Matilda Lake - one of the most peaceful places in the park - returning via the Oxbow Bend Overlook, ideal for photography. p Morning scenic Snake River raft trip - experienced guides navigate 10 miles, showing the best Teton views and secluded hollows and wildlife sightings such as bald eagles, moose, elk, beavers, deer, and bison. p Five-course dinner paired with wines in The Dining Room at the lodge. The Grand Tetons is diverse ecosystem with 310,000 acres of terrain located in the U.S. State of Wyoming. The mountains contain some of the oldest rocks in the U.S. National Park Ser- vice, dating to nearly 2.7 billion years ago.
Let’s see how you ‘measure up!’ Games following a spirited dinner party are al- ways in good taste. Even the most notable enter- tainers are caught on camera with tissue crowns around an elegant table. Let the fun continue in the drawing room with an after-dinner cognac. Our Advisory Council has developed a spe- cial trivia game for those “in the know.” Down- load the Regency After-Dinner Trivia Quiz at: privateclientstandard.blogspot.com
Mother of Timepieces An unassuming treasure in a casu- al shopping district was born out of the mind of Veronica Moolman in 2016. Anchored by a love of qual- ity timepieces, Pearl Watch Repair on NW 23rd in Portland, Oregon has continued to make a name for itself by providing high-quality care for amenant timepieces from Rolex, Patek Philippe, Omega, and others. The master repair special- ists who populate the meandering gallery in a historic home have an expert touch not often found.
Moolman works with a circa-1990 3600L Tom Ford for Gucci watch.
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2025/26 SEASON
SEATTLEOPERA.ORG/DISCOVERSEASON
SAFETY greeting COMFORT
With the promise, “the horizon is your canvas,” Airbus ACH175 he- licopter owners explore the high seas and hidden escapes with no limits. Developed to primarily support the oil and gas industries, this new level of private aviation is comparative to a living room in the sky. Combined with the lowest vibration and sound signature in its class, and advanced Helionix safety systems, it delivers exceptional com- fort and safety for both passengers and the communities it serves. As the state-of-the art avionics solution developed in-house by Air- bus Helicopters, Helionix provides greater operational safety and mission flexibility in an intuitive, pilot-friendly cockpit environment. Completing the avionics suite are a GPS navigation/communication system and traffic advisory notification, along with a mission system incorporating a digital map, terrain avoidance capabilities and syn- thetic vision cockpit technology. Further contributing to a reduction of the pilot’s workload and enhanced safety is the Helionix four-axis autopilot. It offers an innovative cockpit layout with two-to-four multi-function screens designed to improve pilots’ situational awareness. In partic- ular, the system displays only the most pertinent details of a flight phase – filtering out all unnecessary and distracting information, according to Christian Gottschalk, head of the Helionix program at Airbus Helicopters. Ranging from Mercedes Benz Style and Aston Martin to designs by the world renowned designer Harrison Eidsgaard, access to a portfo- lio of exceptional opportunities of customization is available. Encap- sulating a contemporary premier experience, it presents a dynamic journey where every moment is infused with excitement. The whis- per-quiet ride hides powerful performance capabilities.
ACH175 SPECIFICATIONS
Cruise speed 144 kts Max range 626 NM Max endurance 6 hr 09 min Up to 12 passengers (business) Engine type: 2 x Pratt & Whitney PT6C-67E Takeoff power: 1,324 kW / 1,776 shp MTOW: 7,800 kg External cargo: 2,700 kg Standard fuel tank: 2,067 kg Pilots: 1 or 2 VFR/IFR Estimated price from $17 million
All information should be independently verified. PHOTOS © Airbus 2025
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LESSONS LEARNED IN 50 YEARS
By PETER JONES, CFA Executive Vice President Ferguson Wellman Capital Management
A resilient U.S. economy defied skeptics in 2024 as blue-chip stocks notched a second consecutive year of robust returns. Profit growth and equity valuations expanded, and the yield curve began to normalize amid Federal Reserve interest rate cuts. The megacap technology themes of cloud computing, cybersecurity and artificial intelligence have proven to be key profit drivers. The combined earnings growth of the “Magnificent Seven” (Mag 7)—Meta (Facebook), Alphabet (Google), Amazon, Microsoft, Apple, Nvidia and Tesla—account- ed for approximately two-thirds of the S&P 500’s profit growth in 2024.
Peter Jones, CFA, is an equity analyst and portfolio manager for Ferguson Wellman. He also serves on the firm’s investment policy committee. Ferguson Wellman is a privately owned investment advisor with offices in Portland, Oregon and Bellevue, Washington. As of December 31, 2024, the firm manag- es $8.9 billion for 1,026 clients.
mentals in the market and economy. Those who think tariffs will be an extraordinary success are likely to be disappointed. Those who think tar- iffs will push inflation back to 2022 levels are likely to be relieved. We think the ultimate implementation and market impact of tariffs will be less than the media suggests. Similarly, despite the efforts of “DOGE,” it will be very difficult to make a dent in the $2 trillion annualized budget deficit. After entitlements, interest expense and defense spending, the remaining discretionary budget is less than $800 billion. LESSONS LEARNED
Flipping the script, the remaining 493 members of the S&P 500 are ex- pected to generate the same percentage of overall earnings growth in 2025. Electricity demand growth tied to the buildout of data centers, in- creasing demand for healthcare and a nearshoring of capital investment are themes supporting a more diversified earnings picture in the coming year. Because profit growth is balanced in 2025, we also expect market participation to broaden beyond the Magnificent Seven. In our view, a broader market is a healthy development as reliance on such a small number of companies to achieve market gains cannot persist forever. Thanks to a normalization of most of the extremes of the COVID era, 2024 was a year of economic stability. Despite current worries regarding trade policy, high deficits and new tariffs, we expect a continuation of rel- ative economic stability. Key variables such as unemployment, inflation, GDP growth and interest rates are likely ending 2025 near the same levels they are now. Turning to our firm’s fiftieth anniversary, we ponder lessons learned. Re- garding the stock market, history doesn’t repeat itself, but often rhymes. Fifty years ago, the Nifty Fifty was ascendant, like the Mag 7 is today. The Nifty Fifty comprised industry leaders of the day such as IBM, Sears, Polaroid, McDonald’s and Xerox—stocks that investors were advised to buy and never sell. Today, some of these companies are bankrupt and no longer exist, disproving the notion of “one-decision stocks.” Company fundamentals change and valuations matter. We believe ongoing profit growth will support positive returns for equities this year; however, af- ter two years of equity returns in excess of earnings growth, presently elevated valuation suggest stock market returns will likely be less than presently estimated earnings growth of 12% in 2025. We think it will be important for investors to “turn down the volume” in 2025, separating emotions and headlines from the underlying funda-
Regarding asset allocation, we remain overweight large-cap U.S. equi- ties, while continuing to underweight both small-cap and international stocks. With bonds offering attractive yields near 5%, we are neutral weighted the fixed income asset class and have de-emphasized alter- native investments. Given expectation for a similar macroeconomic land- scape to the year just ended, our asset allocation theme is summed up by another lesson learned— sometimes the hardest thing to do is nothing. DISCLOSURES Opinions and statements of financial market trends based on current market conditions constitute our judg- ment and are subject to change without notice. Due to the rapidly changing nature of the financial markets, all information, views, opinions and estimates may quickly become outdated and are subject to change or correction. We believe the information provided is from reliable sources but should not be assumed accu- rate or complete. Reference to or by non-employee individuals and institutions herein does not serve as an endorsement of, or testimonial for, the investment strategies and services of Ferguson Wellman and West Bearing Investments. The information published herein is provided for informational purposes only, and does not constitute an offer, solicitation or recommendation to sell or to buy securities, investment products or investment advisory services. Ferguson Wellman and West Bearing are not qualified or licensed to, and do not provide tax, legal, insur- ance, or medical advice or services. We may provide referrals for third-party professionals including tax and legal advisors. You are solely responsible for the ultimate selection of such professionals. Ferguson Wellman and West Bearing are not responsible for (i) the appropriateness, quality or accuracy of advice or services rendered by any third-party professional engaged by you, (ii) the implementation, monitoring or updating of any recommendations made by any third-party professional engaged by you, or (iii) the implementation, monitoring or updating of any recommendations made by Ferguson Wellman which are considered or acted upon by any third-party professional engaged by you. You may find links to websites that are not managed by Ferguson Wellman or West Bearing. We do not take any responsibility for reviewing, updating or ensuring the accuracy of information on other websites. Fergu- son Wellman and West Bearing disclaim responsibility for the legality of materials and copyright compliance on other websites. This information is provided for informational purposes only.
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