FINANCEDPackage Deal
Jill Smith Of JR Smith Family Holdings Secures $5.72M Acquisition Loan For Miami Package Deal
5655 Northeast 1st Court
$5,715,650
$281/SF
Building Size
20,338 SF
Asset Type
Package Deal
Closing
Aug 7, 2025
AI
The asset involved in this transaction is a package deal of 14 single-family residences and 2 duplexes, totaling 20,338 square feet located at 5655 Northeast 1st Court in the Miami market. The acquisition was funded through a loan amounting to $5,715,650, specifically structured as a Fix & Flip Loan with terms extending over 12 months.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $5,715,650
- Loan Type: Acquisition
- Loan Terms: 12 Month | Fix & Flip Loan
- Lender: Alex Lorenzo - FlexRate Lending
- Landlord: Jill Smith - JR Smith Family Holdings
- Construction Loan Amount: $1,063,600
- Loan to Cost Percentage: 89.05%
- Construction Funds Coverage: 100%
This transaction highlights the involvement of Alex Lorenzo from FlexRate Lending, who facilitated the funding for the acquisition of these 16 assets in Miami-Dade. Additionally, Jill Smith represents the landlord's interests through JR Smith Family Holdings in this deal.
Players
Miami Package Deal Market Snapshot
Boundary boundary · Package Deal · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93