National Bank provides a green loan to Kevric and a Canadian partner to redevelop 600 De La Gauchetière West

MONTREAL, Jan. 15, 2025 /CNW/ - National Bank has provided a green loan to Kevric and its financial partner to contribute to the transformation and improve the energy performance of National Bank's former head office building at 600 De La Gauchetière West in Montreal. Once renovations are complete, the project aims to obtain LEED Gold environmental certification, reinforcing the partners' joint commitment to sustainable development.

This partnership marks a major milestone in the history of this building, which was occupied by National Bank for more than 40 years. The initiative aims to transform the building for future generations, breathing new life into it by equipping it with modern, sustainable infrastructure.

Highlights
The project has the following goals:

• Reduce energy use: Adopt innovative technology and approaches to reduce environmental impact.
• Recommission all electromechanical equipment in the building: Recalibrate and optimize systems to ensure comfortable, efficient and sustainable operations.
• Optimize natural light: Install new windows and reorganize spaces to maximize natural lighting.
• Provide a next-generation work environment: Design modern, flexible spaces that integrate cutting-edge technology, feature abundant natural light and promote the wellbeing and productivity of future occupants.
• Connect to Montreal's economic ecosystem: Integrate the renovated building into the economic fabric of the downtown area, making it more attractive to new tenants and contributing to the city's economic vitality.
• Adopt responsible building practices: Minimize environmental impact during renovations and long-term operations.

"By supporting the redevelopment of this building, which has played a significant role in the Bank's history, we're affirming our commitment to create a better environment for future generations of workers. This transformation will minimize the building's carbon footprint while revitalizing Montreal's downtown core, making it even more attractive and dynamic," said René Demers, Senior Vice-President – Commercial and Private Banking, Real Estate at National Bank. 

"The revitalization of 600 De La Gauchetière reflects our vision of transforming iconic buildings to create contemporary spaces that are adapted to their occupants' needs and aligned with the industry's latest environmental practices. National Bank's financial support will be essential in bringing this ambitious vision to life," said Sébastien Hylands, President of Kevric.

Notes

* LEED^®—an acronym for Leadership in Energy and Environmental Design™—is a registered trademark of the U.S. Green Building Council^® and licensed in Canada to the Canada Green Building Council.

National Bank defines loans as "green" based on internationally recognized methodologies such as the Green Loan Principles published by the Loan Market Association.

Caution Regarding Forward-Looking Statements

Certain statements made in this press release are forward-looking statements. These forward-looking statements are based on a number of assumptions and are subject to a number of factors, inherent risks and uncertainties, many of which are beyond the Bank's control and the effects of which can be difficult to predict. In addition, standards, methodologies and terminologies used by the Bank to define certain concepts and terms, such as "green loans" or "sustainability", continue to evolve and may differ significantly from those used by others, those that may be used by us in the future or that may be subsequently mandated by government authorities or other standard setters. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.

About National Bank of Canada With $462 billion in assets as at October 31, 2024, National Bank of Canadais one of Canada's six systemically important banks. It has approximately 30,000 employees in knowledge-intensive positions and operates through three business segments in Canada: Personal and Commercial Banking, Wealth Management and Financial Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media.

About Kevric
For many years, Kevric Investments has made its mark as real estate leader in Montreal and across Canada. The company's growing reputation in the Montreal, Ottawa and Toronto regions has firmly established it as one of the country's leading developers, private owners and commercial real estate managers. With its expertise in identifying, acquiring and repositioning buildings, Kevric has redeveloped numerous first-class buildings, thereby contributing to creating the value highly sought after by its partners. It offers specialized services in building construction and redevelopment, asset management, leasing and project financing. It currently co-owns and manages Place Bonaventure, AIMIA Tower (soon to be renamed Air Canada Tower) and 1100 Atwater in Montreal, along with a dozen buildings in Toronto.

SOURCE National Bank of Canada