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Silver Lake's Waterloo Explainer

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Via email, Mark Semotiuk, one of the developers behind Silver Lake's Waterloo, provides an update on that condo turned rental turned condo project: "We are still involved in the project. When we completed the 4-unit project in 2008 we ended up leasing the units and refinancing into an apartment loan. Recently two tenants approached us about purchasing their units. Given the pending sale on those units, we decided to bring another unit to market as the lease expired. We will be bringing the final unit to market in June 2010 when its lease expires. Interest has been strong and steady. With the lack of new inventory in the area and considering the quality of the building (you have to see it to understand), [ED: We did see it!] we consistently receive feedback that we are priced very competitively." [Curbed InBox]