By Michael Reel
On the evening of Friday, Sept. 22, 2023, Pacific Playa Realty, one of Southern California’s most celebrated and distinguished real estate and brokerage firms, welcomed clients, guests, politicos and friends to the grand opening and ribbon cutting of their new offices located in the business district of the City of El Segundo.
El Segundo, a thriving coastal community, is the only city in America that is home to headquarters and practice facilities for three professional sports teams: football’s Chargers, basketball’s Lakers and hockey’s Kings. “We are thrilled to call you one of our neighbors too,” said Marsha Hansen, CEO/President of the El Segundo Chambers of Commerce, as she welcomed the realty company. “We’re thrilled you chose El Segundo as your home.”
The setting sun and warm weather provided the perfect setting for attendees to meet, mingle, and eat while enjoying an array of mocktails before hearing from Pacific Playa Realty Chief Executive Officer Teresa Mack and Terrica Banks, Chief Executive Officer of New Era Escrow.
“Here we are, two women of color, CEOs of significant real estate enterprises. This does not happen by accident, ” said Mack.
Munif Ali, Founder and Chairman of the Board, was introduced by Ms. Banks. “Mr. Ali makes time to support us as CEOs while he mentors countless other business professionals.”
“He is truly the man of the hour,” added Ms. Mack, who has worked closely with Ali for nearly two decades. “He is the reason we have this grand event this evening and the grand building behind us which is owned and not leased.”
Founder and Chairman of Pacific Playa Realty, New Era Escrow and several other innovative companies, Munif Ali was warm and gracious as he greeted the capacity crowd.
“I am very humbled to see all of the beautiful faces here.”
Ali opened his remarks by crediting his mother with providing him the strength and courage to find success in the world of real estate.
“Everything I know about being a strong man comes from an even stronger woman. The reason why I love real estate is simple: there was no cheat code where I grew up about building generational wealth because it was only a generation ago that many of us even understood what that was.”
Ali, a native of Northern California, was raised by his immigrant mother in dangerous and dilapidated public housing. “I grew up in the Hunters Point housing projects. It is far removed from El Segundo. Although the buildings do look alike, the doors and families are different.”
Speaking at length about the challenges his mother faced raising him and his brothers, Ali’s voice cracked as he recalled how tough the times were. “I’m just a kid who grew up in the welfare cheese line.”
On Christmas Eve, 2022, Pacific Playa Realty was destroyed by fire after 15 years in business. Hours after the flames were extinguished, Ali was filmed as he walked through the ruins. He spoke optimistically as only the founder of a company can. “It’s just a fire, the important thing is that we all have our lives. Stuff is replaceable, material is replaceable, but people are not.”
At the close of Munif Ali’s moving remarks, the evening’s host, Kente Scott, encouraged the audience’s applause. “For you to come from where you came from and come through the fire, and the ashes, that needs a standing ovation.”
Following Ali’s address, politicians and civic leaders Jeff Prang, Los Angeles County Assessor; Heather Hunt, Los Angeles City Council Member, 10th District; and Marsha Hansen, CEO/President, El Segundo Chambers of Commerce brought greetings and made presentations.
After the ribbon-cutting ceremony, Munif Ali and Teresa Mack spoke exclusively with Michael Reel of Reel Urban News about the future of Pacific Playa Realty and some of the challenges facing Southern California’s real estate market.
“I think the challenge is the economic climate now,” said Mack, “but because Munif and I started this business in the down market we’re able to train our agents to counsel their clients for what is to come and how to sustain themselves through it. I think the fire taught me about resilience.”
In the final moments, Ali discussed remaining steadfast and working with people who share the same professional perspective. “Our focus is that we get more like-minded people and the larger we grow, there is no respect unless you have unity. We want to unify as many people as possible.”
“Again, we happen to be a movement that is in real estate.”
Cover Photo: Terrica Banks, Teresa Mack, Munif Ali, Rochelle Pegg, Darryl Gallien
Contact: Teresa Mack, CEO, Pacific Playa Realty, https://teresamack.com/ @teresamackla
