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1031 Exchange Buyers Drive Sales

Sales recover in June, but uncertainty remains.

By Les Shaver | July 21, 2020 at 02:51 PM

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In April 1031 exchange buyers were given an extension. The Internal Revenue Service issued guidance that said anyone who closed on a sale on or after April 1 would be granted an extension until July 15 to identify their replacement properties.

When that happened, Chris Pappas, associate director with Marcus & Millichap’s Net Lease Division, thinks the typical timeline for investing in 1031 exchange was relaxed.

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