CHARLOTTE, N.C. — CBRE has arranged an $80.8 million loan for the refinancing of The Colony Southpark, a 340-unit midrise apartment community located at 4220 Colony Plaza Drive in Charlotte’s Southpark neighborhood.
Nate Sittema, Kristen Reilley and Ben Hardee of CBRE Capital Markets’ Debt and Structured Finance team in Charlotte arranged the loan on behalf of the borrower, a joint venture between SYNCO Properties and Schlosser Development. The team secured the five-year, fixed-rate loan through an unnamed life insurance company.
The Class A, five-story multifamily development was completed in 2021 and features amenities such as movie lounges, a golf simulator and a yoga studio. The Colony Southpark represents the first phase of a master-planned, mixed-use project that is also called The Colony. The development will eventually include additional luxury apartments, a grocery store, office space, a hotel, restaurants and shops.