CBRE negotiated the sale of Pierson Place Apartments, a 28-unit multifamily property, by ALDA 2011, LLC of Paradise Valley, Ariz. The apartments are located at 365 W. Pierson St. in Phoenix. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the buyer and the seller, LSREF2 APEX (AZ) LLC of Dallas, Texas, in negotiating the $1 million sales transaction.