Barings Provides $78M Refi for Salt Lake City Luxury Hotel
The Athens Group and Hatteras Sky have refinanced their interest in the 225-key Asher Adams
By Brian Pascus May 14, 2026 8:01 am
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The Athens Group and Hatteras Sky have secured a $78 million loan to refinance Asher Adams, a 225-room luxury hotel operated under the Marriott Autograph Collection brand in Salt Lake City, Utah, Commercial Observer can first report.
Barings provided the debt, while WAY Capital arranged the transaction.
J.B. Gerber, managing director with Barings, described the Asher Adams hotel as “an exceptional development,” 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,” said Gerber.
Located at 2 South 400 West in the Salt Lake City Gateway district, an open-air shopping dining and entertainment enclave, Asher Adams opened in 2024. The hotel is an adaptive reuse of an old Union Pacific Depot train station and includes a new eight-story tower.
The asset sits steps from the Delta Center sports arena, home to the NBA’s Utah Jazz and the NHL’s Utah Mammoth, and is near the TRAX Light Rail and Salt Lake City International Airport.
Brian Pascus can be reached at bpascus@commercialobserver.com.
