10-K
Annual Report
AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC
CIK: 1876255
File #: 000-56320
Balance Sheet
55 line items · 2 periods
XBRL
| Item | Dec 31, 2024 | Dec 31, 2023 |
|---|---|---|
Assets | ||
Loan receivables held for investment, net, at amortized cost: | ||
Mortgage loans receivable | 867,687,000 | 675,211,000 |
Loan 15 | 58,417,000 | — |
Loan 10 | 84,493,000 | 84,222,000 |
Loan 12 | 29,758,000 | — |
Loan 14 | 97,945,000 | — |
Loan 7 | 19,625,000 | 17,325,000 |
Loan 5 | 55,935,000 | 54,157,000 |
Loan 8 | 34,540,000 | 34,227,000 |
Loan 3 | 40,971,000 | 40,822,000 |
Loan 1 | 29,276,000 | 41,270,000 |
Loan 6 | 27,715,000 | 37,583,000 |
Loan 9 | 157,509,000 | 161,044,000 |
Loan 13 | 99,275,000 | — |
Loan 11 | 132,228,000 | 122,746,000 |
Loan 4 | — | 40,591,000 |
Loan 2 | — | 41,224,000 |
Allowance for credit losses | 6,127,000 | 5,275,000 |
Equity method investments | 31,045,000 | 47,251,000 |
AB Commercial Real Estate Debt Fund AB Cred Two | 3,700,000 | 6,000,000 |
AB Commercial Real Estate Debt Fund AB Cred Three | 27,300,000 | 41,200,000 |
Cash and cash equivalents | 10,913,000 | 26,622,000 |
Accrued interest receivable | 5,538,000 | 3,750,000 |
Other assets | 52,000 | 111,000 |
Deferred financing costs, net | 1,208,000 | 1,519,000 |
Total assets | 910,316,000 | 749,189,000 |
Liabilities and Members' Capital | ||
Liabilities | ||
Credit facility | 38,000,000 | 0 |
Total Debt Obligation | 545,528,000 | 446,362,000 |
State Street Credit Facility | 38,000,000 | 0 |
Repurchase agreement | 246,491,000 | 186,945,000 |
HSBC Loan | 141,330,000 | 135,915,000 |
Notes payable | 119,707,000 | 123,502,000 |
Repurchase agreement | 246,491,000 | 186,945,000 |
Notes payable | 261,037,000 | 259,417,000 |
Distribution payable | 8,269,000 | 8,233,000 |
Redemption payable | 4,094,000 | 0 |
Related Party | 1,158,000 | 141,000 |
Reimbursement payable (see Note 8) | 168,000 | 0 |
Incentive fee payable (see Note 8) | 1,152,000 | 1,547,000 |
Management fee payable (see Note 8) | 2,459,000 | 1,041,000 |
Investment Manager | 2,500,000 | 1,000,000 |
Accounts payable and accrued expenses | 2,868,000 | 2,573,000 |
Other liabilities | 509,000 | 108,000 |
Total Liabilities | 566,205,000 | 460,005,000 |
Commitments and contingencies (see Note 11) | 0 | 0 |
Members' capital | ||
Common units (36,290,817 and 30,006,873 units issued and outstanding at December 31, 2024 and 2023, respectively) | 354,488,000 | 294,615,000 |
Distributions in excess of earnings | (10,377,000) | (5,431,000) |
Total members' capital | 344,111,000 | 289,184,000 |
Distributions in excess of earnings | (10,377,000) | (5,431,000) |
Additional Paid-in Capital | 354,488,000 | 294,615,000 |
Total liabilities and members' capital | 910,316,000 | 749,189,000 |