SYNCO Properties’ redevelopment of The Colony site in SouthPark Charlotte was featured in the news this week on WTVI PBS Charlotte.

The 174-unit Destination at Union Apartments in Gastonia NC, which Synco Property Management had been managing for its owner, READ Properties of New York, since READ’s purchase of the property in 2014, was sold on December 8, 2020 to an undisclosed purchaser. During the holding period, Synco had executed a value-add program on behalf of READ, which combined with a steady rise in rental rates and consistently high occupancy under Synco’s management, resulted in a sale at a very substantial gain for the seller.

SYNCO Properties has owned and managed The Colony apartments in the heart of the SouthPark area of Charlotte since 1976. During those 43 years, we’ve formed countless fond memories with the numerous individuals who have resided there, but we are now ready to move forward with the redevelopment of the property.