CBRE Secures $81 Million Loan for Refinancing of The Colony Southpark in Charlotte

CBRE has secured an $80.8 million loan for the refinancing of The Colony Southpark, a recently completed, 340-unit mid-rise apartment complex in Charlotte, North Carolina.

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

“This financing reflects the incredible momentum behind the next phases of the masterplan and is a testament to the markets’ conviction around Southpark and in particular what is yet to come at The Colony,” said Mr. Sittema, Vice Chairman with CBRE.

Located at 4220 Colony Plaza Dr. in Charlotte’s Southpark neighborhood, The Colony Southpark is a five-story apartment complex comprised of 340 units which delivered in 2021. Positioned in one of Charlotte's most coveted locations and boasting trophy-quality 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.