Melody Investment Advisors Expands Rooftop Portfolio

February 11, 2021

Melody Investment Advisors has invested in 14 rooftop cell site installations at 11 properties owned by Pebblebrook Hotel Trust. In addition to Melody’s investment, Melody and Pebblebrook have also established a strategic marketing and revenue sharing agreement covering the same 11 Pebblebrook properties.

“This arrangement positions us to generate additional revenue growth from a key, but underdeveloped, asset class that we have in our urban and resort lifestyle hotel portfolio: our rooftops,” said Max Leinweber and Jen Yager, vice presidents of investments at Pebblebrook. “Many of the rooftops within our 53-hotel portfolio are located in high-density metropolitan areas throughout the country. We can now provide the wireless communications industry a seamless and efficient process for anchoring their networks in high-value locations when an expansion is of critical importance to the wireless industry. We believe that Melody is an idealpartner to help realize this potential, especially during the 5G build-out cycle for wireless carriers.”

“We think that these are great assets and we are energized by the prospects of helping capitalize on a new revenue growth strategy for Pebblebrook; this is a strategic urban center rooftop portfolio,” said Jorge Pedraza, operating partner at Melody Investment Advisors and president of Symphony Wireless, its cell site acquisiton affiliate.

John Apostolides, investment partner at Melody Investment Advisors, added, “Our team has extensive experience managing and augmenting revenue related to rooftop wireless assets. We are grateful for Pebblebrook’s trust in our team and we look forward to integrating this 11 property portfolio with the assets that Melody Investment Advisors currently owns and represents while working closely with the wireless network community to take advantage of Pebblebrook’s unique multi-market footprint to expand 5G coverage that is critical today.”