LOUISVILLE, KY-TDK Construction Co. obtained financing to the tune of $28.1 million for development of its 242-unit Claibourne Crossing. Berkeley Point Capital LLC, headquartered in Bethesda, MD, facilitated the Federal Housing Administration loan for the class A multifamily property, on which construction is currently underway.

Located at 14601 Bush Farm Rd. near Louisville’s Lake Forest residential development and golf course, Claibourne Crossing will be completed by late 2013 and will offer one-, two- and three-bedroom units situated in 19 two- and three-story buildings. According to Berkeley Point Capital executive managing director Steve Wendel, Claibourne Crossing is the fifth multifamily new-construction transaction between TDK Construction and Berkeley Point Capital using the FHA’s 221(d)(4) program.

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