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National Bank, Otera announce green loan for Carttera build

DCN-JOC News Services
National Bank, Otera announce green loan for Carttera build

MONTREAL — The National Bank and Otera Capital have announced they have both provided a green loan to Carttera’s Portland Commons, a new office building under construction in downtown Toronto. National Bank acted as lead syndicator on the loan.

The project is located at the intersection of Front Street West and Portland Street in Toronto’s King West neighbourhood. The 560,000-square-foot office building is described as high performance and will be delivered in 2024.

Portland Commons is targeting LEED Zero Carbon, LEED Platinum and WELL Gold certifications and will tap into Enwave’s Deep Lake Water Cooling system. Features and amenities include 13 private outdoor terraces, green roofs, 367 bike stalls and spa-like shower/changeroom facilities.

“National Bank’s Real Estate Group is proud to support Carttera, as well as sustainability-focused clients in their climate transition journey. Carttera’s innovative and value-driven Portland Commons project represents a window on the future of livability, sustainability and impact in Canadian building developments,” stated Rene Demers, National Bank senior vice-president, in a statement.

“In securing this Green Loan, Carttera continues to reinforce our position as market leader in environmentally sustainable development,” added James Tadeson, managing partner with Carttera.

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