#United States #Salt Lake City #Safehold #Asher Adams #The Athens Group

Safehold Expands Ground Lease Portfolio

Safehold Inc. (NYSE: SAFE), recognized as a frontrunner in the modern ground lease sector, has announced a new milestone with the acquisition of a ground lease under the Asher Adams hotel located in Downtown Salt Lake City. This latest transaction is significant as it marks the company's 150th ground lease deal, showcasing its expansive growth and ongoing commitment to reshaping real estate ownership.

A Strategic Acquisition

The Asher Adams hotel, managed as part of Marriott's Autograph Collection, offers 225 high-quality rooms and presents a full-service experience for guests. Opened in 2024, the hotel signifies a well-thought-out collaboration between The Athens Group and Hatteras Sky, two prominent names in the hospitality and real estate development sphere. This partnership has not only successfully transformed a space but also contributes to a thriving atmosphere in Salt Lake City's hospitality market.

Steve Wylder, Safehold's Head of Investments, expressed pride in this acquisition, stating, "This is a high-quality asset and location in a strong and still improving hospitality market." According to Wylder, this new addition will bolster Safehold's already impressive portfolio, which now totals nearly $7 billion in ground leases spread across the United States.

What Makes this Acquisition Stand Out?

Situated adjacent to The Gateway, a significant mixed-use development encompassing retail, office spaces, and residential units, the hotel benefits from a prime location that serves both local residents and visitors. Furthermore, its proximity to the Delta Center, home to the NBA's Utah Jazz and NHL's Utah Mammoth, enhances its appeal, making it a valuable asset in Safehold's portfolio.

With 150 ground leases across the country, Safehold is pioneering a unique approach to real estate that allows property owners to unlock the value of the land beneath their structures. Their innovative model facilitates higher financial returns with mitigated risks, particularly in multifamily, hospitality, and mixed-use properties.

About the Stakeholders

Founded in 1988, The Athens Group has built a reputation for excellence in luxury and lifestyle hotel developments. Known for creating significant hospitality assets like the Four Seasons Hualalai and Ritz-Carlton properties, their commitment extends to the meticulous crafting of experiences that resonate with authenticity and local flavor. Their recent spearheading of Asher Adams exemplifies their vision, ensuring that even historic structures can be revitalized into modern luxury.

Hatteras Sky, co-founded by Jason Cordon and Amy Kelly, specializes in commercial real estate ventures with a keen focus on innovative adaptations of historic buildings. Their expertise in multifamily and hospitality developments complements the overall objective of enhancing urban landscapes while respecting architectural history.

Looking Ahead

As Safehold looks to the future, it remains dedicated to advancing the value of land ownership and bolstering its extensive portfolio. The acquisition of the Asher Adams hotel stands as a testament to Safehold Inc.'s evolving strategies in the real estate market, reflecting its vision for sustainable development and community-enhancing projects. This endeavor not only enriches the local hospitality landscape but also enhances stakeholder confidence in Safehold's potential.

For more information on Safehold and its innovative approach to ground leases, visit their official website at www.safeholdinc.com.

As the market continues to evolve, Safehold is poised to lead the charge in real estate development, ensuring lasting relationships with its partners while continuously working toward creating exceptional spaces that benefit communities everywhere.