Though it was never officially listed, a luxurious Laguna Beach home owned by businessman Raymond Francis and his wife Maria, the parents of Girls Gone Wild founder Joe Francis, has sold to a neighbor for $25 million. This sale marks one of the highest prices ever for a home in the guard-gated Emerald Bay community, particularly for a property without direct beach access.

A fireside lounge area.
The primary bedroom.
One of the home’s two offices.
The primary bathroom.
A sauna-equipped exercise spot.
A family room connects to the kitchen and breakfast nook.
An ocean-view terrace.
A view from the property.
A dedicated wine-tasting chamber.
A media room.
An al fresco entertaining area hosting a fire-pit, built-in barbecue and putting green.

The buyer is Evan M. Stone, a seasoned mortgage lender and co-founder of Champions Funding, a company specializing in non-traditional mortgage financing. Stone also chairs Community Savings Bank and co-owns Rep 1, a sports agency representing pro athletes, which was recently acquired by Excel Sports Management. Last summer, he purchased a smaller Emerald Bay property for $8.5 million.

The double-height living room.

The Francises acquired the Emerald Bay property for $2.2 million in May 1996, before demolishing and rebuilding the existing structure. Completed in 2007, the nearly quarter-acre estate offers five bedrooms and seven bathrooms across approximately 7,600 square feet, showcasing stunning views of the Pacific Ocean and surrounding bluffs. Inside, the home features high coffered ceilings, custom millwork, ornate stair railings, hand-crafted chandeliers, and clerestory windows.

An ornate powder room.

Amenities include two wood-paneled offices, a wine-tasting room, a seated wet bar, a screening room, and a gym with a sauna. The formal living and dining rooms complement a gourmet kitchen equipped with custom cabinetry, stone countertops, a center island, high-end stainless appliances, a butler’s pantry, and a cozy breakfast nook. The master suite boasts a fireplace, sliding glass doors to a private ocean-view patio, a walk-in closet, and a luxurious spa-like bath with dual vanities, a dressing area, soaking tub, and separate shower.

The formal dining room.

Outdoor highlights feature landscaped terraces with fire pits, a fountain, built-in barbecue, and a putting green. The property also includes an attached two-car garage and an $8,200 annual HOA fee, granting residents access to a private beach, a junior Olympic-size pool, tennis courts, parks, and playgrounds.

The kitchen.

The sale was facilitated by Tim Smith of Coldwell Banker Realty, with Maura Short and Michelle Cormier of Compass representing the buyer.

A wet bar for entertaining.