The property features 355 apartments, 20 percent of which are affordable housing units, 43,000 square feet of retail space and several public open spaces.

In this seller's market, buyers are increasingly committing non-refundable deposits, even when a seller finds an issue during the due diligence period.

The financing was provided to PMG and Greybrook Realty by Centennial Bank and Square Mile Capital. Construction began on the 400 Biscayne development in June.

Argus' cloud technology will have an impact on commercial real estate in Houston because all CRE appraisers and brokerages work with it in the local ecosystem to understand value through cash flow.