Top1031

Republic at Alamo Heights

Multifamily property in San Antonio, TX · sponsored by JWCM Exchange I

HistoricalLast Form D, filed May 9, 2025, reports the offering fully sold (opens in a new tab)

Republic at Alamo Heights was a DST sponsored by JWCM Exchange I that owned a multifamily property in San Antonio, TX (278 units). Its last Form D, filed May 9, 2025, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed May 9, 2025, reports the offering fully sold.

JWCM Exchange I has 1 active offering on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$32,185,345
Equity offered, per the Form D
Sold
100%
Form D, May 9, 2025; the % is our arithmetic
Investors reported
126
Form D, May 9, 2025
Selling commissions
$3,306,178 · 10.2% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Republic at Alamo Heights. Top1031 is not a broker-dealer.
Republic at Alamo Heights image

Republic at Alamo Heights · San Antonio, TX · Photo: d3a6q8f50538y6.cloudfront.net

What did Republic at Alamo Heights own?

The apartments stand at 1111 Austin Highway, in the Alamo Heights/Terrell Heights area northeast of downtown San Antonio. 2 The marketing listing from Institutional Property Advisors dates construction to 2014 and describes an in-place City of San Antonio tax reimbursement, at 62.12%, running until 2034. 1 JW Capital Management bought the community from ResProp in a transaction that trade tracker Traded records as closing on August 21, 2023 at $47.8 million. 2

Reported location
San Antonio, TX
Property size
278 units

How was it financed, and what did it cost to sell?

The Form D lists only equity as the security offered and does not disclose the property's mortgage balance. 4 Separately, the San Antonio Business Journal, citing Bexar County records, reported a $23 million KeyBank loan on the 2023 purchase. 5

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$3,306,178 · 10.2% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,702,250 · 5.2% of offering
Form D Item 16
· The filing’s note: “Item 16 is an estimate of acquisition fees and offering and organizational expenses that may accrue to one or more Related Persons.”
Broker-dealers named in the Form D
16 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Oct 24, 2023
Minimum investment
$25,000

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.

What does the SEC record show?

Form D is the brief notice an issuer files with the SEC for a private placement sold without registration. This Trust amended its notice each time subscriptions advanced, so the timeline below reads as a running tally rather than one event, ending with a final amendment that closed out the raise. 4

Legal Trust name
JWCM Republic Alamo Heights, DST
SEC CIK
1993633
First Form D
Nov 3, 2023
Latest Form D
May 9, 2025
Filings on record
19
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$32,185,345was $32,185,245
$32,185,345+$340,268
126+1
EDGAR
Form D/A$32,185,245
$31,845,077+$849,000
125+7
EDGAR
Form D/A$32,185,245
$30,996,077+$1,865,408
118+6
EDGAR
Form D/A$32,185,245
$29,130,669+$1,425,000
112+5
EDGAR
Form D/A$32,185,245
$27,705,669+$2,179,322
107+8
EDGAR
Form D/A$32,185,245
$25,526,347+$3,906,013
99+13
EDGAR
Form D/A$32,185,245
$21,620,334+$6,329,678
86+28
EDGAR
Form D/A$32,185,245
$15,290,656+$3,258,404
58+13
EDGAR
Form D/A$32,185,245
$12,032,252+$910,839
45+3
EDGAR
Form D/A$32,185,245
$11,121,413+$2,835,199
42+9
EDGAR
Form D/A$32,185,245
$8,286,214+$517,302
33+3
EDGAR
Form D/A$32,185,245
$7,768,912+$1,741,067
30+8
EDGAR
Form D/A$32,185,245
$6,027,845+$350,000
22+2
EDGAR
Form D/A$32,185,245
$5,677,845+$799,281
20+3
EDGAR
Form D/A$32,185,245
$4,878,564+$2,083,910
17+10
EDGAR
Form D/A$32,185,245
$2,794,654+$994,654
7+4
EDGAR
Form D/A$32,185,245
$1,800,000+$700,000
3+1
EDGAR
Form D/A$32,185,245
$1,100,000+$1,000,000
2+1
EDGAR
Form D$32,185,245
$100,000
1
EDGAR
Show all 19 SEC Form D filings

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Common questions

What happened to Republic at Alamo Heights?
Republic at Alamo Heights is a Historical offering. The last Form D, filed May 9, 2025, reports the offering fully sold.
What does the Trust actually own?
A single asset: Republic at Alamo Heights, a 278-unit mid-rise apartment community at 1111 Austin Highway in San Antonio, Texas. JW Capital Management acquired it from ResProp in August 2023, and the property was subsequently placed into the Delaware Statutory Trust that syndicated fractional interests to 1031 exchange investors. There is no diversified pool here — one building, one market.
Who pays the rent, and is there a triple-net lease?
This is multifamily, so no. Unlike a single-tenant net-lease DST, where one corporate tenant covers rent, taxes, insurance, and maintenance, an apartment property collects rent from hundreds of individual residents on short leases. Revenue depends on occupancy and rent levels that reset with each renewal, and operating costs stay with the property. The accessible record shows no named master tenant, occupancy figure, or lease-roll schedule.
Is there a mortgage on the property?
The SEC filings do not say — the Form D lists only equity as the security offered and discloses no mortgage balance. The San Antonio Business Journal, citing Bexar County records, reported a $23 million KeyBank loan taken out on the 2023 acquisition. Whether that loan, its terms, or any refinancing sits inside the Trust today is a question for the offering documents and the sponsor's current reporting.
Should I be concerned about the law firm investigation?
Treat it as a lead, not a finding. On March 29, 2025, The White Law Group — a firm that represents investors in claims against brokers and sponsors — published a notice saying it was investigating potential securities-fraud claims involving this Trust. Such notices are marketing for prospective claimants and are not regulatory action. No enforcement proceeding, judgment, or adverse outcome involving the Trust was located in the public record.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.