Safehold Inc. has closed on the acquisition of an existing ground lease beneath the Asher Adams hotel in downtown Salt Lake City. Developed through a partnership between The Athens Group and Hatteras Sky, the 225-key, full-service hotel was completed in 2024 and operates as part of Marriott’s Autograph Collection.
“This is a high-quality asset and location in a strong and still improving hospitality market,” said Steve Wylder, Safehold’s head of investments. “We’re excited to add this position to our nearly $7 billion portfolio of ground leases throughout the U.S.”
Safehold’s portfolio now stands at 150 ground leases across the country. Asher Adams neighbors The Gateway, a 40-acre, mixed-use development consisting of retail, office and residential uses. The luxury-lifestyle hotel is also adjacent to the Delta Center, home of the NBA’s Utah Jazz and NHL’s Utah Mammoth.