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First Boston Capital Partners says it has expanded its revolving line of credit with BankUnited, based in the Miami area.

The new $115 million facility refinances a $60 million facility and enables the company, an affiliate of Quincy developer The Grossman Companies and also known as First Boston Construction Holdings, to continue to grow its loan portfolio as a private lender.

“Our balance sheet is built for uncertain times,” First Boston President David Grossman said in an interview with Banker & Tradesman. “We’ve got a lot of equity. We’ve got plenty of dry powder in the form of this line of credit. So we’re built to move and lend in these environments.”

BankUnited is the fifth lender that First Boston Capital has worked with. The company has existing relationships with Dedham Savings Bank, Cambridge Savings Bank, Webster Five and OceansFirst. 

“This expanded line of credit enables one of Great Boston’s largest and most trusted private lenders access to more liquidity to meet the demand of their growing client base,” BankUnited Vice President Laura Ackerman said in a statement. “We are happy to be the first financial partner outside of New England to help this legacy family business continue its growth and positive impact on the New England real estate market.”

While some uncertainty around the economy remains after President Donald Trump’s rapid tariff policy changes and economists’ prediction of a recession, Grossman said his company was still looking to fund construction projects.

“We’re certainly looking to lend incrementally, less than we were, given the uncertainty,” he said. “We do a ton of repeat business with the same builders and investors and because we know the markets in which we lend so well, we’re heavily concentrated in Boston, Cambridge, Somerville, Medford – higher-income suburbs inside [Route] 128. So while we are certainly cautious, we’re open for business.”