JV Scores $80.8M Refi for Charlotte Apartments

A joint venture team made up of SYNCO Properties and Schlosser Development obtained an $80.8 refinancing for The Colony Southpark, a recently completed 340-unit multifamily community in Charlotte.

Nate Sittema, Kristen Reilley, and Ben Hardee with CBRE Capital Markets’ Debt and Structured Finance in Charlotte represented the joint venture borrower. The five-year, fixed-rate loan was secured through a life company. 

Located at 4220 Colony Plaza Dr. in Charlotte’s Southpark neighborhood, The Colony Southpark is a five-story apartment complex which delivered in 2021. The asset has amenities like movie lounges, a golf simulator, and a yoga studio. The community represents the first phase of a master-planned, mixed-use project, also called The Colony. The mixed-use development will eventually include additional luxury apartments, a grocery store, office space, a hotel, and numerous restaurants and other retailers.