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Partner Engineering and Science, Inc.
Partner Engineering and Science, Inc.
You are here: Home » Projects » Investment Risk Assessments, Royal Bank Plaza – Canada

Investment Risk Assessments, Royal Bank Plaza – Canada

In the last days of 2021, Partner Engineering and Science, Inc. secured a contract covering an array of professional services to a trophy building in Toronto’s exclusive financial district. The Royal Bank Plaza – an award-winning office building located at 200 Bay Street – is one of the largest and most exclusive office complexes in Toronto. The 2.1 million SF project consists of two 24-carat gold-coated towers which are joined by the Atrium Link structure housing the Royal Bank of Canada trading floor and an indoor art installation; it also includes the Concourse Retail Area.

Partner’s project team was aware of the expectations associated with this prestigious asset. Because the Royal Bank Plaza is one very few buildings over 750,000 square feet in an exclusive area of Toronto, it must be properly managed and maintained to compete with other exclusive properties in its class. The building was almost 50 years old, so the project team understood that over the next 10 years, all major building systems including piping, HVAC, 41 elevators, the façade, roofs, interiors, and electrical systems would need significant work.

Partner’s Assessment practice offers an array of due diligence services to support the investment risk evaluation process and the Asset Management team that ultimately took over running the property. The scope of services for the Royal Bank Plaza includes Phase I Environmental Site Assessment (ESA); Equity-level, Generalist Property Condition Assessment Report; Security System and Building Technology Assessment; Green Building Document Evaluation; Mechanical, Electrical and Plumbing (MEP) Specialist; Fire Alarm and Suppression Specialty Evaluation; Structural Specialty Evaluation; Parking Garage Evaluation; Roofing Specialty Evaluation; Façade Specialty Evaluation (including drops); Vertical Transportation Specialty Evaluation; and Limited Accessibility Assessment.

More than 27 Partner team members plus several independent contract workers were instrumental in preparing the proposal. Greg Souder, Sr. Managing Director at Partner, focused on the structural and parking garage. “It added a layer of experience having a super senior guy like Greg in the field to oversee; spearhead specialists,” said the project team lead. “It was tremendously helpful.”

While performing the Building Technology Assessment, Partner’s Director of Information Technology, Shervan Shah, uncovered two fiber connections that the building owners did not even know existed as they had not been previously revealed. This answered a critical Building Technology risk question, that was crucial to maintaining the deal momentum and holding the closing date. It is this expert experience that gives Partner leverage against others in the industry.

Other key players who worked on the project include: Senior Project Manager Terry Bailey, Senior Project Manager Misha Goodman, and Managing Director Nate Benton.

In all, Partner assessments resulted in a successful transaction that identified more than $190MM of costs that were previously unaccounted for. This provided the Client the ability to negotiate significant savings (many times their due diligence investment), and plan accordingly for future capital allocations.

Project Leads

Need to Know

Project Location
Toronto, Canada
Project Sector
Start Date
December 20, 2021

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