Barings has completed a $78 million refinancing deal for the Hyatt Regency Salt Lake City, a luxury hotel located in downtown Salt Lake City, Utah.
The 700-room hotel, which opened in October 2022, is situated adjacent to the Salt Palace Convention Center. The property features 60,000 square feet of meeting and event space, as well as amenities including a rooftop terrace, outdoor pool, fitness center, and multiple dining options.
The refinancing was provided to the hotel’s ownership group, which includes Portman Holdings and Hensel Phelps. The loan will be used to pay off existing construction debt on the property.
“We are pleased to provide this refinancing for the Hyatt Regency Salt Lake City, a premier asset in a dynamic market,” said Chris Black, managing director at Barings. “The hotel’s location and amenities position it well for long-term success.”
According to Barings, the Hyatt Regency Salt Lake City is the first large-scale convention hotel to open in the city in two decades. The property is directly connected to the Salt Palace Convention Center via a skybridge, offering convenient access for convention attendees.
