Safehold Acquires Asher Adams Hotel, Expanding Portfolio in Salt Lake City
- Safehold Inc. acquires the Asher Adams hotel in Salt Lake City, enhancing its portfolio to nearly $7 billion.
- The acquisition supports Safehold's strategy of investing in high-quality assets within the recovering hospitality market.
- Safehold continues to innovate in ground leases, positioning itself as a key player in real estate investment.
Safehold Expands Portfolio with Strategic Acquisition in Salt Lake City
Safehold Inc. solidifies its position in the modern ground lease industry by acquiring the ground lease for the Asher Adams hotel, a full-service establishment located in Downtown Salt Lake City. This acquisition, announced on June 23, 2025, underscores Safehold's commitment to enhancing its diverse portfolio, which now totals nearly $7 billion spread across 150 ground leases nationwide. The Asher Adams hotel, developed in a collaboration between The Athens Group and Hatteras Sky, features 225 guest rooms and is part of Marriott's Autograph Collection, a brand known for its unique and high-quality offerings. Steve Wylder, Safehold's Head of Investments, emphasizes the significance of this acquisition, highlighting the hotel's strategic positioning within a robust hospitality market.
Located near The Gateway, a vibrant mixed-use development that comprises retail, office, and residential spaces, the Asher Adams hotel benefits from substantial foot traffic and proximity to key attractions. It is also adjacent to the Delta Center, the home arena for the NBA's Utah Jazz and NHL's Utah Mammoth, which further enhances its appeal as a destination for visitors and locals alike. This strategic location positions Safehold to leverage the growing demand in the hospitality sector, as urban centers continue to rebound post-pandemic. The acquisition aligns with Safehold's strategy of investing in high-quality assets that promise both immediate returns and long-term value appreciation.
Safehold Inc. has pioneered the modern ground lease model since its inception in 2017, allowing property owners to unlock the value of their land while minimizing financial risk. As a real estate investment trust (REIT), the company focuses on providing shareholders with secure, growing income and capital appreciation over time. While its portfolio spans multiple sectors, including multifamily and office properties, the addition of the Asher Adams hotel marks a significant step in enhancing its footprint in the hospitality market. Safehold's innovative approach continues to transform real estate ownership, making it a key player in the evolving landscape of property investment.
In addition to the Asher Adams hotel acquisition, Safehold's strategic initiatives reflect its broader mission to deliver enhanced returns through a diversified portfolio. The company's focus on high-quality assets and prime locations positions it well to capitalize on emerging trends in the real estate market. As Safehold continues to grow, its commitment to transforming ground leases remains a cornerstone of its operational strategy. More information about Safehold's ongoing projects and investment strategies is available on their website at www.safeholdinc.com.