CBRE Hotels Arranges $59 Million Sale of Hotel Melby, Tapestry Collection by Hilton in Melbourne, FL on behalf of an Opterra Capital Partnership

CBRE has arranged the sale of Hotel Melby, Tapestry Collection by Hilton, located at 801 E. Strawbridge Ave. in Melbourne, Fla. Nella Invest, LLC purchased the property for $59 million ($327,778 per key).

Christian Charre, Paul Weimer, Jennifer Jin, and Andrew Pastorino with CBRE Hotels represented the seller, a joint venture between Opterra Capital, Willow Street Capital, Duke Hospitality and the LCP Group, in the transaction.

“As the newest property in a prime location, the Melby is exceptionally well-positioned to become the top performing asset in the market. Located in the heart of downtown Melbourne, the property is the only hotel in the market walking distance to entertainment, dining, and shopping,” said CBRE Executive Vice President Christian Charre.

The new 180-key hotel opened in April 2021. The 11-story building features a 360-degree-view rooftop restaurant and bar, a coffee bistro, a fitness center, over 12,000 square feet of flex meeting space, and a parking garage.

“Hotel Melby is a great example of partnership and collaboration from numerous parties to successfully execute a complex project,” said Glenn Alba, CEO of Opterra Capital. “Miguel Rivera and Naomi Mirsky set the vision and were the driving force behind the project while forging a strong partnership with the City of Melbourne. Welbro Construction delivered an exceptional building based on a design collaboration between ODA Architecture and EoA Group. Duke Hospitality, an early partner in the project, managed the hotel operations and Hospitality Alliance operated the iconic Landing rooftop, with both groups helping to drive outstanding operational results in the first sixteen months of business.” 

“We combined a strong business plan with beauty and inspiring design to generate outstanding results for all stakeholders,” said Naomi Mirsky, Chief Development Officer of Opterra Capital. “We are extremely proud of the landmark we created and its lasting legacy in vibrant downtown Melbourne; we are very pleased we found in Nella Invest the perfect buyer to entrust that legacy to.”


About Opterra Capital LLC
Opterra Capital is a Boca Raton, Florida-based real estate investment sponsor and operating partner, capital markets advisor, and asset manager with significant experience in all sectors of commercial real estate. Founded by Glenn Alba, a former Managing Director at Blackstone for 20 years, and with industry veterans Miguel Rivera and Naomi Mirsky as partners, Opterra Capital consists of five industry professional principals with more than 80 years of experience in hotel ownership, asset management and development. Opterra Capital seeks to leverage this expertise towards value-add acquisitions and proactive investment management to deliver attractive, risk-adjusted returns. For more information, visit www.opterracapital.com.