Yes, you should add the cost of the loan to the cost basis of all 'buy-up' for the new property. This 'buy-up' is listed as a new asset placed in service on the date of the exchange. The original asset should remain in tact, with a name change only. Some people handle it differently, but this makes the tax return entry easy and the results are the same.
Keep all of the exchange records for future use and you should be good to wrap up your return.
@Bubble
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