Integrated performance simulation of buildings and heating, ventilation and air-conditioning (HVAC) systems can help reducing energy consumption and increasing level of occupant comfort. However, no singe building performance simulation (BPS) tool offers sufficient capabilities and flexibilities to accommodate the ever-increasing complexity and rapid innovations in building and system technologies. One way to alleviate this problem is to use co-simulation. The co-simulation approach represents a particular case of simulation scenario where at least two simulators solve coupled differential-algebraic systems of equations and exchange data that couples these equations during the time integration. This paper elaborates on issues important for co-simulation realization and discusses multiple possibilities to justify the particular approach implemented in a co-simulation prototype. The prototype is verified and validated against the results obtained from the traditional simulation approach. It is further used in a case study for the proof-of-concept, to demonstrate the applicability of the method and to highlight its benefits. Stability and accuracy of different coupling strategies are analyzed to give a guideline for the required coupling frequency. The paper concludes by defining requirements and recommendations for generic cosimulation implementations.