Owner Carry 1031 Exchange

[Sean Hugo]

I own a 7200 sq ft retail center in Oklahoma with no debt.  I had someone that wanted to know if I would sell it to them.  The price they offered was at or slightly above market $822k. The would be putting $90k down.  Their financing wound up falling through so he asked me if I would owner carry it for two years until he could build more equity in the property to obtain permanent financing. 

I would like to do a 1031 exchange and already know the property that I want to purchase. After doing some research in order to owner carry the loan I have to come up with the remaining $732k to bring to closing since I will be the bank.  I don't have that kind of cash sitting in an account but what I do have is a lot of equity in another property that I could refinance to get the money.  The problem is I will be refinancing from 4.25% on a 15 year amortization that was locked for 10 years to around 6% on a 20 amortization locked for five.  The buyer has offered 7% interest rate on the loan. 

Any private money lenders out there interested in this deal?  Also would be open to other creative ways to structure this while still being able to do the 1031 exchange.