Can Multifamily Syndication Deal Do 1031 Exchange?
Hi,
I have invested in a multifamily apartment complex syndication deal. The Sponsors said when the Company (LLC) sells the property in 5 years, they would try to do a 1031 exchange and roll the proceeds of the sale into another deal. Is this possible? If yes, I would like to know how that can be done? The LLC that owns the current property will buy a "like kind" multifamily apartment - just like a single family house would?
Has anyone successfully done it?
Thanks!