The property asset involved in the transaction is a 9-acre development site located at 100 Nash Street in El Segundo. The site was purchased for $54,000,000. It was formerly part of the Raytheon campus and has plans for repurposing into a surf park, creating an entertainment hub centered around a wave pool.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $54,000,000
• Buyer: Vinny Smith - Toba Capital
• Brokers: Michael Condon Sr, Mike Condon Jr., Chris Sinfield, Steve Bohannan & Kylie Rawn - Cushman & Wakefield
• Market: El Segundo
• Acres: 9

Toba Capital, under the leadership of billionaire Vinny Smith, acquired the parcel with intentions to transform the area into a facility that enhances El Segundo’s sports and leisure district, shifting the land's purpose from planned office and retail use.