LOUISVILLE, KY-TDK Construction Co. obtainedfinancing to the tune of $28.1 million for development of its242-unit Claibourne Crossing. Berkeley Point CapitalLLC, headquartered in Bethesda, MD,facilitated the Federal Housing Administrationloan for the class A multifamily property, onwhich construction is currently underway.

Located at 14601 Bush Farm Rd. near Louisville's Lake Forestresidential development and golf course, Claibourne Crossing willbe completed by late 2013 and will offer one-, two- andthree-bedroom units situated in 19 two- and three-story buildings.According to Berkeley Point Capital executive managing directorSteve Wendel, Claibourne Crossing is the fifthmultifamily new-construction transaction between TDK Constructionand Berkeley Point Capital using the FHA's 221(d)(4) program.

"Tim Keach (TDK chairman and CEO) andKent Ayer (TDK president) are always very easy towork with, very efficient and they get the deals done on time. Thelease-up is always solid and they hit their projections," Wendelsays.