10-Q
Quarterly Report
AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC
CIK: 1876255
File #: 000-56320
Balance Sheet
54 line items · 3 periods
XBRL
| Item | Sep 30, 2024 | Jun 30, 2024 | Dec 31, 2023 |
|---|---|---|---|
Assets | |||
Loan receivables held for investment, net, at amortized cost | |||
Mortgage loans receivable | 845,913,000 | 845,913,000 | 675,211,000 |
Loan 8 | — | 34,509,000 | 34,227,000 |
Loan 1 | — | 29,276,000 | 41,270,000 |
Loan 10 | — | 84,422,000 | 84,222,000 |
Loan 14 | — | 96,211,000 | — |
Loan 6 | — | 27,692,000 | 37,583,000 |
Equity Method Investments | — | 645,894,000 | 688,366,000 |
Loan Nine | — | 157,509,000 | 161,044,000 |
Loan 2 | — | 41,329,000 | 41,224,000 |
Loan 11 | — | 129,628,000 | 122,746,000 |
Loan 3 | — | 40,933,000 | 40,822,000 |
Loan 13 | — | 99,149,000 | — |
Loan 7 | — | 19,585,000 | 17,325,000 |
Loan Five | — | 55,935,000 | 54,157,000 |
Loan 12 | — | 29,735,000 | — |
Loan 4 | — | — | 40,591,000 |
Allowance for credit losses | 6,653,000 | — | 5,275,000 |
Equity method investments | 44,616,000 | — | 47,251,000 |
AB Commercial Real Estate Debt Fund AB Cred Two | 5,700,000 | — | 6,000,000 |
AB Commercial Real Estate Debt Fund AB Cred Three | 38,900,000 | — | 41,200,000 |
Cash and cash equivalents | 7,783,000 | — | 26,622,000 |
Equity Method Investments | — | 1,498,000 | 1,057,000 |
Accrued interest receivable | 5,833,000 | — | 3,750,000 |
Other assets | 28,000 | — | 111,000 |
Equity Method Investments | — | 11,310,000 | 10,306,000 |
Deferred financing costs, net | 1,291,000 | — | 1,519,000 |
Total assets | 898,811,000 | — | 749,189,000 |
Equity Method Investments | — | 658,702,000 | 699,729,000 |
Liabilities and Members' Capital | |||
Liabilities | |||
Repurchase agreement | 277,671,000 | — | 186,945,000 |
Notes payable | 259,246,000 | — | 259,417,000 |
Distribution payable | 9,025,000 | — | 8,233,000 |
Related Party | 960,000 | — | 141,000 |
Reimbursement payable (see Note 8) | 55,000 | — | 0 |
Incentive fee payable (see Note 8) | 648,000 | — | 1,547,000 |
Management fee payable (see Note 8) | 1,236,000 | — | 1,041,000 |
Investment Manager | 1,200,000 | — | 1,000,000 |
Accounts payable and accrued expenses | 2,642,000 | — | 2,573,000 |
Other liabilities | 134,000 | — | 108,000 |
Equity Method Investments | — | 1,204,000 | 1,297,000 |
Total liabilities | 551,617,000 | — | 460,005,000 |
Equity Method Investments | — | 2,438,000 | 2,275,000 |
Commitments and contingencies (see Note 10) | 0 | — | 0 |
Members' capital | |||
Common units (36,364,835 and 30,006,873 units issued and outstanding at September 30, 2024 and December 31, 2023) | 355,142,000 | — | 294,615,000 |
Distributions in excess of earnings | (7,948,000) | — | (5,431,000) |
Total member's capital | 347,194,000 | 290,823,000 | 289,184,000 |
Distributions in excess of earnings | (7,948,000) | (9,779,000) | (5,431,000) |
Additional Paid-in Capital | 355,142,000 | 300,602,000 | 294,615,000 |
Total liabilities and members' capital | 898,811,000 | — | 749,189,000 |
Equity Method Investments | — | 658,702,000 | 699,729,000 |