Kennedy Wilson starts Wachovia Tower work

FORT LAUDERDALE - Wachovia Tower at One East Broward, a landmark 19-story office tower commanding the western gateway to downtown Fort Lauderdale, is set for a series of key improvements as much anticipated work begins on a dramatic renovation of the building’s lobby and entry profile.

The property’s ownership structure and finance arrangements have been successfully reorganized by Kennedy Wilson Properties, a division of international real estate investment and services company Kennedy Wilson.

This reorganization sets in motion a multimillion dollar asset management and improvement program spearheaded on behalf of the building ownership by Rob Cord, senior managing director of Kennedy Wilson Properties, and his team of commercial property experts specializing in distressed asset management and property repositioning at Kennedy Wilson Properties LTD.

The renovations at the Class A tower were conceived by architects Don Yoshino and Michael Dumala of Yoshino Dumala Architects. Kennedy Wilson Properties was appointed in late 2008 to lead a reorganization of the property’s ownership structure and facilitate a complex restructuring of the tower’s finance arrangements.