Is this possible?

[Phillip Wright]

I have a family business that is being sold, it consists of two funeral homes… we will be doing an asset sale sometime in the near future.

We would like to purchase a real estate portfolio with the money from the sale.

My question is:

If we sell the company as an asset sale, can we 1031 the real estate separate from the other aspects of the company? I have a portfolio of 13 doors that I could purchase and would like to 1031 into that portfolio. The portfolio would be roughly the same amount possibly less and the rest we would look for another property to purchase. So we’d certainly be purchasing something of equal or greater value. 

Thanks