Castle Lanterra (CL) a leading New York-based national real estate investment firm, and Development Ventures Group (DEVEN Group), a subsidiary of the $23 billion Kajima USA Corporation and a respected developer of student housing, mixed-use and hospitality projects across the United States, have secured the land and entitlements for the development of student housing at 3525 Quadrangle Boulevard in Orlando, Florida.
“3525 Quadrangle Boulevard is the first of many projects we hope to undertake with our institutional joint venture partners, which will offer much needed, high quality student housing in the UCF area – which currently only accommodates less than 20% of the full-time student population,” said Elie Rieder, CEO and Founder of Castle Lanterra. “Working closely with DEVEN Group we will deliver a product that will serve as a benchmark for the community.”
Planned for a Q2 2027 completion, the development is located just half a mile from UCF’s campus, within an upscale master-planned office community. The site boasts lake frontage with a picturesque walking trail, as well as easy and walkable access to several retail shops, restaurants and bars. In addition to the high-quality residences, the development will also feature a sky lounge with panoramic lakes views, a rock-climbing wall integrated into a state-of-the-art fitness center, lobby mezzanine and sky lounge study areas, a large, glass conference center, computer lounge and large individual study rooms on each floor. Furthermore, the plan includes a multi-story structured parking garage with the first two levels dedicated exclusively for office tenants in the complex.
In addition to Castle Lanterra, DEVEN Group’s partners in the project include PLT America as limited partner, and Sumitomo Mitsui Trust Bank as lender. The project is the first student housing development for both Sumitomo Mitsui Trust Bank and PLT America, a subsidiary of Prime Life Technologies, a joint venture of Panasonic Holdings, Toyota Motor, and Mitsui & Co.
