Compass announced the launch of Christie’s International Real Estate Evergreen, a new boutique franchise that will operate from the Pearl District in downtown Portland. The firm is headed by seasoned local agents Brian Pienovi, his son Andrew Pienovi, Patrick Clark, and Ken McLarty, and will provide agents with exclusive access to Christie’s proprietary pl@tform™ technology for end‑to‑end transaction management.
The launch follows Compass’s acquisition of Christie’s International Real Estate earlier in 2025, a move that broadened the company’s luxury brokerage capabilities and reinforced its focus on high‑margin franchise operations. By integrating Christie’s global network and auction house connections, Compass is positioning Evergreen to capture a larger share of the premium segment in the West Coast market.
Evergreen’s agents will benefit from the pl@tform™ platform, which streamlines listing, marketing, and closing processes while delivering enhanced client service. The technology’s automation and data analytics capabilities are expected to improve agent productivity and reduce transaction cycle times, supporting the franchise’s profitability goals.
Portland’s luxury market presents a compelling opportunity, with an average sales price exceeding $1 million and a growing appetite for high‑end properties. Evergreen has been selected to lead sales and marketing for the Ritz‑Carlton Residences Portland development, giving it a high‑profile portfolio and access to affluent buyers. The firm will compete with established local brokers, but its Christie’s brand and technology edge should help it differentiate in a crowded market.
The expansion aligns with Compass’s Q3 2025 results, which saw revenue of $1.85 billion and adjusted EBITDA of $93.6 million—an 80% year‑over‑year increase. The new franchise is expected to contribute to the company’s high‑margin franchise business, which targets a 30‑35% EBITDA margin, and to reinforce Compass’s strategy of scaling technology‑enabled brokerage services. The launch also supports the company’s guidance for Q4 2025, which projects revenue between $1.59 billion and $1.69 billion and adjusted EBITDA between $35 million and $49 million.
Management emphasized the strength of the launch, with CEO Robert Reffkin noting that Compass “delivered the strongest Q3 results in our history” and CFO Scott Wahlers highlighting the company’s “record Q3 revenue and adjusted EBITDA” as evidence of disciplined growth. Investors responded positively to the announcement, reflecting confidence in Compass’s continued expansion into high‑margin luxury markets and its technology‑driven franchise model.
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