Safehold closes on acquisition of ground lease in Salt Lake City

Safehold (SAFE) 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.”