Barings announced it has provided a $78 million loan to a joint venture between The Athens Group and Hatteras Sky to refinance Asher Adams, a luxury hotel in Salt Lake City.
The hotel opened in November 2024 and includes a newly constructed eight-story tower alongside the adaptive reuse of the historic Union Pacific Depot train station. The property features 225 guestrooms, four food and beverage outlets, an indoor-outdoor meeting space, and valet parking. The hotel is located adjacent to the Delta Center and The Gateway, and operates under Autograph Collection from Marriott International.
WAY Capital advised the sponsorship group on the financing transaction.
Barings said the transaction highlights the firm’s continued focus on delivering relationship-driven capital solutions for experienced sponsors and institutional-quality hospitality assets in growing markets.
KEY QUOTES:
“We are excited to continue our partnership with Athens and Hatteras on this exceptional development. This transaction reflects Barings’ ability to deliver creative, relationship-driven capital solutions for experienced sponsors, backed by high-quality assets in dynamic markets.”
JB Gerber, Managing Director, Barings
