Our Due Diligence team is the industry benchmark in independent analysis, giving your team the edge required to avoid misinformed acquisitions and to secure opportunities unrecognized by others.

In addition to our Financial Due Diligence expertise in Research, Valuation & Advisory, we are also able to draw upon the unique and broad expertise of our Cost & Project Management team for physical due diligence, our Property Tax team for property tax due diligence services, and our ARGUS Acquire web-based application for deal and pipeline management.  The result is that your potential acquisition is subjected to scrutiny through far more than a single lens, and the evaluation is tailored to the priorities you rank as important.

We offer a full array of acquisition support services, delivered by specialists whose depth of local knowledge is complemented by unmatched proprietary research tools and a nationwide pool of professional, and independent experience.

Asset classes supported by RVA.

Financial Due Diligence Services at a Glance

Base Rent Verification and Security
  • Review and summarize all leases and tenant correspondence; highlight all notable options to expand, terminate, etc.
  • Reconcile leases / rent letters / estoppels and/or architectural certificates / bank statements to rent roll.
  • Conduct personnel tenant interviews.  Survey competing office complexes to determine market rental rates.

Check list

Files reviewed

Recovery Revenue Verification
  • Tenant-by-tenant CAM and tax verification.
  • Summarize administration, amortization or depreciation, capital tax, realty tax, tenant hydro, janitorial and other operating costs by tenant.
  • Compare current charges policy to market standards.
  • Identify any potential irregularities or mistakes with respect to CAM and taxes charges.
  • Tax assessment review (preliminary or in-depth).
Financials Review
  • Review and analysis of historical audited financial statements, year-to-date performance and current budget.
  • Variance analysis with a cash-flow forecast.
  • Review of accounts receivable.
  • Review of accounts payable for consistency of contractual agreements with respect to cleaning, security, etc., and compare to cancelled cheques.
  • Tax assessment review (preliminary or in-depth).
  • Analyze all miscellaneous revenue, including licensing agreements, and compare to the current market.

Other Due Diligence Offerings

Property Condition Assessment

Our condition assessment procedures are conducted in accordance with ASTM E2018-08 Standard Guide. We conduct interviews with property management, review available drawings and documents, and physically review all systems and components to identify items requiring capital for repair or replacement.

Property Tax Due Diligence

This includes a review of current property tax obligations and of the existing property assessment. It also includes an evaluation of any outstanding assessment appeals and an estimate of the tax liability for the property owner and the tenants with consideration to the sales transaction.

ARGUS Acquire

Our deal management solution that has been tailor-made to enable acquisitions teams to efficiently construct sound financial models, pitch winning deal strategies and meet capital deployment targets. It provides complete top-down visibility of acquisition deals and pipelines, creating greater efficiency and consistency.

Our Experts Across Canada

Julie Clarke

Director, Research, Valuation & Advisory

Fraser Dyer

Director & General Manager, Research, Valuation & Advisory

David Eger

Vice President, Research, Valuation & Advisory - BC

Étienne Guindon

Director, Research, Valuation & Advisory

Tony Hurley

Director, Research, Valuation & Advisory

Lou Iafrate

Executive Vice President, Research, Valuation & Advisory - Ontario

Jonas Locke

Vice President, Research, Valuation & Advisory

Martine Sirois

Director, Research, Valuation & Advisory

Pedro Tavares

Senior Director & General Manager, Research, Valuation & Advisory - BC

Douglas Wong

Senior Director, Research, Valuation & Advisory

Ryan Zacharuk

Senior Director & General Manager, Research, Valuation & Advisory - Alberta
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