A special subset of generalized fractional superstring models extending those of Argyres et al
is studied. This subset concerns models based on SUK
(K
)/U
(1)K
-1
Gepner parafermions. It is shown that there exists a remarkable link between generalized fractional superstrings based on SUK
(K
)/U
(1)K
-1
Wess-Zumino-Witten theory with K
= 2, 3 and 5, and the associative division algebras. These models have critical dimensions 10, 2 × 5 and 4 × 3, respectively, and are in one-to-one correspondence with real, Kähler, and hyper-Kähler target spaces. Moreover, we obtain field-theoretical realizations of c
0
= 4 super-W
3
and c
0
= 12 super-W
5
symmetries based on the K
= 3 and 5 parafermions. It is also shown that the conformal anomaly of the parafermion ghosts of the worldsheet fractional supersymmetry is Cparaghost
= 15 - K
2
.