Challenges in the debt market had a significant impact on office trades in Phoenix.Charlie von Arentschildt, first vice president of CBRE Group Inc.’s Capital Markets and Institutional Properties, said the volume of office sales was down about 70% this year from 2022.”The buildings that are particularly hard to get financing for are those that aren’t fully stabilized,” von Arentschildt said. “While overall sales volume is down … volume within high-net-worth buyers is actually down less than 20%. The profile of those buyers is mostly not putting debt on buildings. That aspect of the market is a clear bright spot.”An example of a local investor stepping up to add to his portfolio is Daryl Burton. In October 2021, Burton sold most of the business’ real estate portfolio for $1.15 billion to Philadelphia-based Equus Capital Partners. This year, he’s act …
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