Are commercial lenders back?

Big lenders are back — kind of, according to Crain’s, with several high-profile commercial loans coming through in recent months. The Bank of China’s $800 million loan for a refinancing at 245 Park Avenue and Bank of America’s $500 million Google loan at 111 Eighth Avenue are among the headline-grabbing deals that have commercial real estaters feeling optimistic. Joseph DePaolo, chief executive of Manhattan-based Signature Bank, said that while some lenders are still reluctant to get into the commercial and industrial markets, multi-family loans and refinancings are plentiful. “We’ve seen more lenders trying to come into the New York market in the past several months than I’ve seen in a long time,” DePaolo said. [Crain’s]