10-Q
Quarterly Report
AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC
CIK: 1876255
File #: 000-56320
Balance Sheet
70 line items · 2 periods
XBRL
| Item | Jun 30, 2025 | Dec 31, 2024 |
|---|---|---|
Assets | ||
Loan receivables held for investment, net, at amortized cost | ||
Mortgage loans receivable | 969,565,000 | 867,687,000 |
Loan 12 | 29,805,000 | 29,758,000 |
Loan 10 | — | 84,493,000 |
Loan 14 | 99,337,000 | 97,945,000 |
Loan 7 | 19,847,000 | 19,625,000 |
Loan 13 | — | 99,275,000 |
Loan 8 | 35,467,000 | 34,540,000 |
Loan 15 | 58,265,000 | 58,417,000 |
Loan Five | 55,935,000 | 55,935,000 |
Loan 6 | 27,748,000 | 27,715,000 |
Equity Method Investments | — | 426,163,000 |
Loan Nine | 121,870,000 | 157,509,000 |
Loan 11 | 136,159,000 | 132,228,000 |
Loan 3 | — | 40,971,000 |
Loan 1 | 29,276,000 | 29,276,000 |
Loan 16 | 60,850,000 | — |
Loan 18 | 74,976,000 | — |
Loan 17 | 66,573,000 | — |
Loan 19 | 34,685,000 | — |
Loan 20 | 118,772,000 | — |
Allowance for credit losses | 6,512,000 | 6,127,000 |
Commercial debt securities, at fair value (cost of $5,000 and $0, respectively) | 5,006,000 | 0 |
Equity method investments | 27,157,000 | 31,045,000 |
AB Commercial Real Estate Debt Fund AB Cred Two | 3,300,000 | 3,700,000 |
AB Commercial Real Estate Debt Fund AB Cred Three | 23,800,000 | 27,300,000 |
Cash and cash equivalents | 114,775,000 | 10,913,000 |
Equity Method Investments | — | 13,722,000 |
Accrued interest receivable | 3,984,000 | 5,538,000 |
Other assets | 98,000 | 52,000 |
Equity Method Investments | — | 11,875,000 |
Deferred financing costs, net | 1,927,000 | 1,208,000 |
Total assets | 1,116,000,000 | 910,316,000 |
Equity Method Investments | — | 451,759,000 |
Liabilities and Members' Capital | ||
Liabilities | ||
Credit facility | 120,000,000 | 38,000,000 |
Citibank repurchase agreement | 102,960,000 | 0 |
Notes payable | 119,707,000 | 119,707,000 |
Credit facility | 120,000,000 | 38,000,000 |
Morgan Stanley Repurchase Agreement | 277,811,000 | 246,491,000 |
Commercial Debt Securities | 5,000,000 | 0 |
HSBC Loan | 86,080,000 | 141,330,000 |
Total Debt Obligation | 706,558,000 | 545,528,000 |
Repurchase agreement | 380,771,000 | 246,491,000 |
Notes payable | 205,787,000 | 261,037,000 |
Capital received in advance | 50,804,000 | 0 |
Distribution payable | 7,832,000 | 8,269,000 |
Redemption payable | 3,608,000 | 4,094,000 |
Related Party | 665,000 | 1,158,000 |
Reimbursement payable (see Note 9) | 0 | 168,000 |
Incentive fee payable (see Note 9) | 673,000 | 1,152,000 |
Investment Manager | 700,000 | 1,200,000 |
Management fees payable (see Note 9) | 2,417,000 | 2,459,000 |
Investment Manager | 2,400,000 | 2,500,000 |
Accounts payable and accrued expenses | 3,690,000 | 2,868,000 |
Other liabilities | 822,000 | 509,000 |
Equity Method Investments | — | 14,310,000 |
Total liabilities | 777,069,000 | 566,205,000 |
Equity Method Investments | — | 16,280,000 |
Commitments and contingencies (see Note 11) | 0 | 0 |
Members' capital | ||
Common units (36,242,138 and 36,290,817 units issued and outstanding at June 30, 2025 and December 31, 2024, respectively) | 354,061,000 | 354,488,000 |
Distributions in excess of earnings | (15,130,000) | (10,377,000) |
Total member's capital | 338,931,000 | 344,111,000 |
Additional Paid-in Capital | 354,061,000 | 354,488,000 |
Distributions in excess of earnings | (15,130,000) | (10,377,000) |
Total liabilities and members' capital | 1,116,000,000 | 910,316,000 |
Equity Method Investments | — | 451,759,000 |