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Projects

Hotel Melby Downtown Melbourne

Hotel Melby, a Tapestry Collection by Hilton in downtown Melbourne, Florida, is a modern, 180-room boutique hotel, with 24 corner suites. It has 11-stories and a 170-space parking garage with 30 dedicated public parking spaces. The hotel features a fitness center and a spacious rooftop lounge with an indoor/outdoor terrace that has sweeping views of the surrounding area as it is the tallest building in Melbourne upon completion. Hotel Melby also has a 4,900 square foot state-of-the-art meeting and event space on the roof.

LOCATION
The Florida Space Coast is a thriving economic market suited for a premier hotel brand that will cater to local corporate leaders in the aviation, technology, aerospace, and defense industries such as NASA, Raytheon, Lockheed Martin, SpaceX, and Blue Origin. Due to the unique underwriting fundamentals of this project, it is projected to yield up to approximately two times the investment amount for investors upon an assumed sale in year five of the investment period.1

PROJECT DETAILS

Project Type:
Hotel
Project Brand:
Tapestry Collection by Hilton
Project Sponsor:
Melbourne Downtown Hotel, LLC: Opterra Capital, Duke Hospitality, Willow Street Capital, and The Charre Group
Construction Start Date:
Q2 2019
Construction End Date:
Q2 2021
EB-5 Capital Amount:
$14,900,000
Capital Structure:
Common equity
Investment Term:
Hotel sale targeted for year five
Number of Investors:
29 (the project is now fully subscribed)
Job Creation:
551* (18 jobs per investor)
Projected Investor Return:
Earn up to approximately 2X your investment amount1

*Estimated.
1 Earn up to approximately two times your investment amount over the life of the project, based on operating projections provided in the October 26, 2018, Feasibility Study prepared by HVS, a leading hotel consulting firm, and a sale at an 8.5% cap rate.

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