# JWCM: DST sponsor profile > JWCM DST facts: the New York sponsor JWCM Exchange I, LLC has filed DST offerings with the SEC since 2022. Sponsor entity, people, filings and sources. Source: https://baker1031.com/sponsors/jwcm Facts checked November 1, 2026. Listed alphabetically in the Baker 1031 sponsor directory; not ranked and not an endorsement. Draft for review; not yet approved by Aurora Securities. ## The short answer JWCM is the name used by a New York-based sponsor of Delaware statutory trusts (DSTs) for 1031 exchange investors. Its sponsoring entity, JWCM Exchange I, LLC, is based at 445 Park Avenue. SEC records show its first DST filing in September 2022, signed by its president, Jason Warsavsky. ## Key facts - **Sponsoring entity:** JWCM Exchange I, LLC - **Headquarters:** New York, NY - **DST or TIC programs since:** 2022 - **Program types:** DST - **SEC filings:** EDGAR CIK 1940976, https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1940976 ## JWCM offerings on Baker 1031 No offerings from this sponsor are currently available through Baker 1031. Past offerings: JWCM Vivian, DST (2026). ## About JWCM JWCM's DST filings list an office at 445 Park Avenue in New York City. The entity that sponsors its trusts is JWCM Exchange I, LLC. Jason Warsavsky is listed on each filing as "President of the Sponsor of the Issuer." The JWCM name also appears on private funds. SEC Form D filings for JWCM Credit Opportunities Fund I, L.P. and JWCM Real Estate Opportunities Fund II, L.P. list Jesselson Warsavsky Capital Management, LLC as investment manager. Those funds share the 445 Park Avenue address, and Jason Warsavsky signs their filings. They are private funds, separate from the DST line. This profile relies on SEC filings. A sponsor website for JWCM could not be confirmed. So the firm's founding year, history and portfolio size are not stated here. Ask the sponsor directly for those facts and for documents that support them. ## JWCM's DST and 1031 programs A DST is a trust that owns real estate. Investors buy beneficial interests in the trust. Those interests can qualify as replacement property in a 1031 exchange. A 1031 exchange lets a seller of investment property defer capital gains tax by buying like-kind property. Most DSTs are sold through private placements to accredited investors. ### Filing history SEC EDGAR lists three JWCM trusts as of November 2026: - **JWCM Heights West, DST**, first filed in September 2022 - **JWCM Republic Alamo Heights, DST**, first filed in November 2023 - A third JWCM trust, first filed in October 2025 Each trust filed several amended Form D notices after its first filing. Amendments often update the amount sold or the list of firms paid for sales. ### Structure Each JWCM trust uses the same basic setup on its Form D: - **Sponsor:** JWCM Exchange I, LLC - **Manager and signatory trustee:** an LLC named for the trust, such as JWCM Heights West Manager, LLC - **Depositor:** another LLC named for the trust, which sets up the trust The filings reviewed all show a $25,000 minimum investment. The 2022 filing describes the trust as a Delaware statutory trust formed that year. Form D notices do not show property type, debt, lease terms or exit plans. Those details are in each trust's private placement memorandum (PPM). ### Who sells JWCM DSTs JWCM does not list an affiliated broker-dealer on its filings. Instead, its Form D notices name outside broker-dealers and their registered representatives. The 2022 filing lists DAI Securities, LLC. A 2026 amendment for a later trust lists 18 representatives at many different firms. ## How to research JWCM's offerings Begin with the PPM. It explains the property, the loan, the fees and the planned hold. Each trust's Form D is on SEC EDGAR; search "JWCM." Look up the broker-dealer offering you the trust on FINRA BrokerCheck. Because public information on JWCM is limited, ask for the sponsor's track record, full-cycle results and audited financials. Ask how much debt each trust carries. The guides on [how to check a DST sponsor](/learn/how-to-check-a-dst-sponsor) and [how to read a DST offering](/learn/how-to-read-a-dst-offering) explain each step. ## Frequently asked questions ### Is JWCM a DST sponsor? Yes. JWCM Exchange I, LLC is listed as "Sponsor of the Issuer" on SEC Form D filings for JWCM DSTs. The first was filed in September 2022. ### Who runs JWCM? Jason Warsavsky is listed as President of the Sponsor on JWCM's DST filings. He also signs filings for JWCM private funds. ### What does JWCM stand for? SEC filings for JWCM's private funds name Jesselson Warsavsky Capital Management, LLC as investment manager. The DST filings themselves use only the JWCM name. ### Where is JWCM located? JWCM's filings list 445 Park Avenue in New York City. Recent filings show Suite 1600. ### What is the minimum investment in a JWCM DST? The Form D filings reviewed show a $25,000 minimum. Check the PPM for each trust's current terms. ### How do I look up JWCM's DST offerings? Each trust's Form D is on SEC EDGAR; search "JWCM." The trust's PPM explains the property, the loan, the fees and the planned hold. Distributions are not guaranteed, DST interests are illiquid, and investors can lose money. ## Questions to ask about any DST sponsor - **Full-cycle results.** Ask for every program the sponsor has sold, including any that went back to a lender, and how investors came out of each one. - **Fees and loads.** Find the total load in the private placement memorandum (PPM): selling commissions, dealer-manager fees, acquisition and financing fees, and fees at sale. - **Debt.** Check the loan amount, rate, term and maturity date, and what happens if the loan can't be refinanced when it comes due. - **Reserves and capitalization.** See how much is held in reserve for repairs and vacancy, and whether the sponsor has the capital to support a property through a hard stretch. - **Conflicts of interest.** Read the PPM's conflicts section: affiliated managers, master lease arrangements, and any 721 exchange into the sponsor's own REIT. - **Regulatory record.** Look up the managing broker-dealer on FINRA BrokerCheck, and search the sponsor's filings on SEC EDGAR. ## Sources - [SEC EDGAR, full-text search of Form D filings for "JWCM"](https://efts.sec.gov/LATEST/search-index?q=%22JWCM%22&forms=D) - [SEC EDGAR, Form D, JWCM Heights West, DST, September 2022](https://www.sec.gov/Archives/edgar/data/1940976/000194097622000001/primary_doc.xml) - [SEC EDGAR, Form D, JWCM Republic Alamo Heights, DST, November 2023](https://www.sec.gov/Archives/edgar/data/1993633/000199363323000001/primary_doc.xml) - [SEC EDGAR, Form D/A for a JWCM DST, August 2026](https://www.sec.gov/Archives/edgar/data/2087350/000208735026000010/primary_doc.xml) - [SEC EDGAR, Form D, JWCM Credit Opportunities Fund I, L.P., January 2022](https://www.sec.gov/Archives/edgar/data/1840311/000091957422000266/primary_doc.xml) - [SEC EDGAR, Form D, JWCM Real Estate Opportunities Fund II, L.P., April 2026](https://www.sec.gov/Archives/edgar/data/2116125/000091957426002155/primary_doc.xml) Baker 1031 may receive compensation from sponsors whose offerings it makes available. --- Securities are offered through Aurora Securities, Inc., member FINRA/SIPC. Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. and is not a registered broker-dealer or investment adviser. This content is general education, not investment, tax, or legal advice, and is not an offer to buy or sell securities. Offers are made only through the offering documents to eligible investors, generally accredited investors. DST interests are illiquid, distributions are not guaranteed, and you can lose your entire investment. Contact: Jerry Baker, Baker 1031 Investments · hello@baker1031.com · (415) 965-0552 · https://baker1031.com/contact