Partial 1031 question

[Matt Splittgerber]

I have gotten differing answers on this question so i'd like to open it up to you guys to get some opinions.  

I am in the process of selling a warehouse and that I own with 3 partners.  One is silent investor.  Its split 40-40-20.  I own 40%.  The other two partners want to take the proceeds and pay off debt and invest in other ventures outside real estate.  I would like to take those funds and reinvest it into real estate.  So I would like to pursue a partial 1031.  

For round numbers lets say the sale is 5 million and our cap gain is 2 million.  Am I incorrect in thinking I can take $800k (40% of 2 mil) and 1031 into at least 2,000,000 (40% of 5 million)  properties and avoid a tax bill? While letting my partners take their cash and pay their tax on their proceeds?

Thank you so much for your help!