This 1031 exchange was for two commercial properties with closings four days apart. The commercial broker called to introduce the client stating the turn around on the replacement property will be quick. In 1031 exchanges with property closings within five calendar days of each other, escrow instructions will request the "net equity" be wired from one closing to the next without going through an escrow or bank account. A formal property identification was not required because the replacement property was acquired within the first forty five days post closing on the relinquished property. The commercial property exchange went smoothly and the capital gain was successfully deferred.