Deven Group Plans to Grow Student Housing Portfolio to Over $1 Billion

Orlando, Fla. — Orlando-based developer Development Ventures Group (the Deven Group), a subsidiary of Kajima USA and Kajima Corp., has plans to grow its student housing development portfolio to over $1 billion within the next three years. Currently, the company has $750 million worth of developments in its pipeline. The target value would equate to more than 8,000 beds. Projects developed by the Deven Group include The Henry, a student housing development totaling 440,000 square feet and 537 beds across 188 units near the University of Tampa. Other developments include the $260 million Knights Plaza on the campus of the University of Central Florida, which features 2,000 beds, as well as 170,000 square feet of retail space and a 10,000-seat basketball arena.  The Deven Group also partnered with Ustler Development and Halstatt Real Estate Partners on Union West at Creative Village in downtown Orlando, a $107 million, 640-bed project that was completed in 2019. “We see great opportunity for student housing development close to larger universities,” says Thom Cunningham, president and CEO of the Deven Group.