The Vivian
Multifamily property in Atlanta, GA — sponsored by JWCM Exchange I
Files with the SEC as JWCM Vivian, DST
Minimum investment
$25k
Offering size
$46.2M
How much has sold
46.0%
Asset type
Multifamily property
Location
Atlanta, GA
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
JWCM Vivian, DST is a Delaware statutory trust — fractional co-ownership whose interests can serve as replacement property in a 1031 exchange — holding a single asset: The Vivian, a 325-unit Class-A apartment community on the Atlanta BeltLine, completed in 2023 and acquired by the Trust on August 21, 2025.3 The Offering is still raising equity from accredited investors, those meeting SEC income or net-worth tests.
Min $25k; $15.7M/$46.2M sold as of 6/16/26; built 2023, 3 bldgs on BeltLine; bought from RangeWater/ParkProperty 9/2025
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The Vivian was completed in 2023 as a Class-A apartment community built across three buildings on the Atlanta BeltLine.3 RangeWater Real Estate and equity partner ParkProperty Capital announced its sale to JW Capital Management in September 2025, at an undisclosed price.2 The sponsor's offering brochure gives August 21, 2025 as the acquisition date and names RangeWater Residential LLC as the third-party property manager.3
- Property address
- 1246 Allene Ave SW, Atlanta, GA
- Property size
- 325 units
Who is the tenant, and what's the lease?
There is no single corporate tenant — an apartment community runs on hundreds of short residential leases. The Trust master-leases the whole property to JWCM Vivian Master Tenant, LLC, a sponsor affiliate that operates it and subleases apartments to residents.3
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
46.0% reported sold
- Amount sold
- $21,113,968
- Still available
- $25,056,932
- Investors reported
- 62
- Total offering
- $46,170,900
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How is it financed, and what does it pay?
This is a leveraged Trust: mortgage debt sits on the property alongside the equity being raised, and an investor takes a proportional share of both. The sponsor's brochure describes a Fannie Mae loan, with $47,189,000 of loan proceeds inside a stated total value of $93,359,900 against the $46,170,900 equity offering.3
Who's behind it?
SEC filings name JWCM Vivian Manager, LLC as manager and signatory trustee, JWCM Vivian Depositor, LLC as depositor, and Jason Warsavsky as president of the sponsor.1 JW Capital Management, the operating platform behind the offering, was the buyer named in the seller's September 2025 disposition announcement.2 This Trust holds one building, so nothing in the sponsor's wider portfolio stands behind it.
- Sponsor
- JWCM Exchange I
- Legal Trust name
- JWCM Vivian, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 1 active / 3 total offerings from JWCM Exchange I
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The record is one original Form D — the notice an issuer files for a private placement — followed by amendments that each report more equity raised and more investors. The filings give October 14, 2025 as the first sale date.1 Because the Offering may be advertised publicly, each investor's accredited status must be verified rather than self-certified.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 12
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
Is The Vivian still raising money?
Top1031 lists The Vivian as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for The Vivian?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust actually own?
One property: The Vivian, a 325-unit apartment community at 1246 Allene Ave SW in Atlanta, built across three buildings on the Atlanta BeltLine and completed in 2023. There is no second asset and no diversification inside the Trust, so results depend on this single community and the Atlanta rental market.
Is the Offering still open?
Yes. The most recent Form D amendment on record was filed August 11, 2026, and the Trust is still selling beneficial interests to accredited investors. It is offered under Rule 506(c), the private-placement exemption that permits public advertising provided the sponsor verifies each investor's accredited status instead of accepting a self-certification. Form D filings list a $25,000 minimum investment.
Is there debt on the property?
Yes. The sponsor's offering brochure describes a Fannie Mae loan of $47,189,000 with a 5.30% interest rate, a 10-year term, seven years interest-only, 30-year amortization, and loan-to-value of 50.55% on total value and 57.90% on purchase price. The lender servicing the loan is not identified in the public filing record, and prepayment provisions, reserves and guaranties sit with the private placement memorandum, the offering document that discloses terms, fees and risks.
Who runs the property, and what occupancy has been reported?
The Trust master-leases the community to JWCM Vivian Master Tenant, LLC, a sponsor affiliate that operates it and subleases apartments to residents, and the sponsor's brochure identifies RangeWater Residential LLC — an affiliate of the seller — as third-party property manager. Anchor1031's marketplace page reports 94.7% occupancy for the Trust; the measurement date for that figure is not established in the sources reviewed. A dated rent roll sits with the sponsor and the PPM.
Is there a REIT or 721/UPREIT exit here?
The filing record shows no plan to convert investor interests into REIT shares through a 721/UPREIT exchange — the structure some sponsors use to roll DST investors into a REIT's operating partnership. That leaves a sale or refinancing of the property as the route to a liquidity event. The sponsor's brochure describes an eventual sale of the property as the intended exit; the timing it discusses is a plan, not a commitment, and public filings establish no schedule.
Why is another DST offering tied to the same building?
AltsWire reported on February 9, 2026 that NewStar Exchange launched a separate $21.27 million DST offering tied to The Vivian apartment community. That is a different issuer and a different offering from JWCM Vivian, DST; the public record reviewed here does not establish how the two relate to the same asset, so the ownership and capital structure questions belong to the sponsor and the PPM.
Chapter 9NewStar Exchange Launches DST Offering Tied to Atlanta Multifamily AssetAltsWire reports that NewStar Exchange launched a $21.27M DST offering tied to The Vivian apartment community in Atlanta, indicating continued investor activity around the underlying JWCM asset. RangeWater Real Estate and ParkProperty Capital Announce Disposition of The Vivian, a Multifamily Asset in AtlantaRangeWater and ParkProperty Capital announce the sale of The Vivian, a 325-unit Class-A apartment community on the Atlanta BeltLine, to JW Capital Corp (JWCM), forming the basis for the JWCM Vivian DST offering. RangeWater Sells Atlanta Beltline ProjectTrade-press coverage of RangeWater and ParkProperty Capital selling The Vivian apartment community on the Atlanta BeltLine to JW Capital Corp.