Instead of immediately paying capital gains on the sale of a property (the “down leg”), many investors prefer to defer that payment by purchasing a new property (the “up leg”) with the proceeds. This is commonly referred to as a 1031 exchange, in reference to the section of U.S. tax code that defines it. There are specific rules and timelines related to a 1031 exchange, and it is important to have an experienced and knowledgeable specialist handling the process., Marcus & Millichap: #1 commercial real estate investment sales brokerage in North America, offering investment sales, financing, research and advisory services., Matthews™ is the nation's fastest growing commercial real estate brokerage firm. Our agents are recognized as investment leasing experts..