BEVERLY HILLS, CA—Kennedy Wilson revealed that it has acquired 880 units across three multifamily properties in an off-market transaction for $198 million. The communities expand Kennedy Wilson's multifamily portfolio focused on institutional-quality, garden-style apartment properties in rapidly growing markets across the western United States.

According to a prepared statement, the company's value-add asset management plans include adding and enhancing amenities and updating unit interiors across the portfolio.

"We are pleased to close on these three high-quality, very well-located properties and to build on our multifamily portfolio that favors geographies with strong university and education systems as well as promising job growth opportunities," says Senior Managing Director Shem Streeter, who leads acquisitions for Kennedy Wilson's multifamily division, in a prepared release. "We continue to be very optimistic about the Mountain State markets, where we have seen tremendous results since we began investing there a decade ago and where we foresee continued job and population growth over the long term. We are also excited to expand our presence into Tempe where the vibrant business community, relative affordability and lifestyle offerings will help support a strong multifamily market," Streeter adds.

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Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.