Barings, one of the world’s leading alternative investment managers, announced today that it has provided a $78 million loan to a joint venture between The Athens Group and Hatteras Sky for the refinance of Asher Adams, a luxury hotel in Salt Lake City, Utah.
“We are excited to continue our partnership with Athens and Hatteras on this exceptional development,” said JB Gerber, Managing Director with Barings. “This transaction reflects Barings’ ability to deliver creative, relationship-driven capital solutions for experienced sponsors, backed by high-quality assets in dynamic markets.”
Asher Adams opened in November of 2024. Its development included the construction of a new, eight-story tower, as well as the adaptive reuse of the historic Union Pacific Depot train station. Accommodations include 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’s Autograph Collection.
WAY Capital advised sponsorship on the financing.
About Barings
Barings is a $481 billion* global alternative asset manager that partners with institutional, insurance, and wealth clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across credit, real assets, capital solutions and emerging markets.
*As of March 31, 2026
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