Case Study

Torquest

Office

Founded in 2002, TorQuest Partners is one of Canada’s leading mid-market private equity firms. Currently managing more than $1 billion in equity capital, Torquest enjoys deep relationships across multiple industry sectors, including but not limited to financial services, business services, chemicals, food, consumer products, and niche manufacturing.

The Challenge

Recognizing the need for highly specialized “tenant first” representation, TorQuest initially engaged Savills in 2006 to negotiate an expansion of its premises in Brookfield Place. Due to its extremely strong relationship with its property owner, TorQuest recognized the need to have strong representation on its side of the table.

In 2011, having made significant capital investment into high-end leasehold improvements for the space reflective of its image and clientele, TorQuest once again engaged Savills to secure a long-term tenancy for its lease, set to expire in Toronto’s premier office tower during a period of increasing AAA rental rates.

 

Savills Response

With the rental rates increasing at 5 -10% annually, Savills  knew it was critical to proactively engage TorQuest’s landlord early in the process. Savills initiated its FLOW™ process to identify unique market opportunities and establish a credible threat with the landlord that they would lose TorQuest’s tenancy, thus eliminating any impression that the tenant was captive to its lease. With the threat of relocation firmly entrenched in the landlord’s mind, Savills was able to create an advantageous environment in negotiations to extend the lease.

 

We found the location we wanted, but what Savills brought to the table was the skill and savvy to get the lease we wanted. Savills had the market knowledge to negotiate and put together a lease quickly, saving us the hassle and putting us, the tenant, first. We would use this company again and again.

Brent Belzberg, Managing Partner, TorQuest

The Solution

TorQuest successfully extended its lease at rates that are significantly below those forecasted over the next five years and beyond. Additional inducements allow TorQuest to “refresh” its space as needed.