1031 exchange: multiple parties, one property

[Andrew Aladjadjian]

Hypothesis:

Party 1 owns an investment property and would like to sell and purchase a like-kind property. Party 2 also owns an investment property and would like to purchase a like-kind property. Both parties would like to purchase the same property. Does a 1031 exchange allow for multiple, separate parties to purchase the same property together without realizing gains? The property to be purchase is a multiple-dwelling unit costing more than both owned properties. Asking for a friend.