Radius Commercial Real Estate & Investments principal and co-founder Steve Golis was recently honored with the Jack Kelly Award at an annual meeting of the Santa Barbara Association of Realtors.

Golis earned the recognition for his exceptional management of a 1031 exchange involving a retail property located at 1711 S. Broadway in Santa Maria, which closed in September, according to Radius.

A 1031 exchange is a common strategy used to defer capital gains tax by selling one property and then acquiring another “like” property within a specific timeframe.