Barings 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 Utah property features 225 guestrooms, four food-and-beverage outlets, indoor-outdoor meeting space and valet parking.
Located adjacent to the Delta Center and The Gateway, the hotel operates under Marriott International’s Autograph Collection brand. WAY Capital advised the Charlotte, N.C.-based global investment management firm on the financing.
“We are excited to continue our partnership with Athens and Hatteras on this exceptional development,” said JB Gerber, managing director, Barings, said in a statement. “This transaction reflects Barings’ ability to deliver creative, relationship-driven capital solutions for experienced sponsors, backed by high-quality assets in dynamic markets.”