A&B Properties announced today that it has acquired a portfolio of 31 properties from Japanese real estate investor Genshiro Kawamoto for approximately $98 million. Twenty-seven of the properties are located on Kahala Avenue, about half of which front the ocean or have beach access. A&B plans to refurbish the properties. Company President and Chief Operating Officer Christopher Benjamin said the company was able to leverage its local market knowledge and relationships to complete an off-market transaction at attractive pricing.  Sales will begin immediately and continue over a projected three-to-five-year time frame.