DALLAS--University House Communities (UHC), formerly known as Inland American Communities Group, is set to develop a new University House community on the site of the current Bishop's Landing apartments near the University of Oklahoma.

SUMMIT, NJ—Normandy Real Estate Partners is planning $4 million of improvements at 25 Deforest Avenue, a three-story, 125,000 square foot office building in Summit, NJ. Normandy acquired the property with MRY Associates. It's a continuation of Normandy's strategy of acquiring and developing well-located and high-quality assets in downtown Summit.

LOS ANGELES—The cap rate spreads between prime and major markets have rarely been as wide as they are today for these retail properties, says Spencer Levy at CBRE.