10-Q
Quarterly Report
AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC
CIK: 1876255
File #: 000-56320
Balance Sheet
61 line items · 2 periods
XBRL
| Item | Jun 30, 2024 | Dec 31, 2023 |
|---|---|---|
Assets | ||
Loan receivables held for investments, net, at amortized cost | ||
Mortgage loans receivable | 844,011,000 | 675,211,000 |
Loan 3 | 40,894,000 | 40,822,000 |
Loan 2 | 41,293,000 | 41,224,000 |
Loan 1 | 29,275,000 | 41,270,000 |
Loan 10 | 84,353,000 | 84,222,000 |
Loan Nine | 162,232,000 | 161,044,000 |
Loan 8 | 34,284,000 | 34,227,000 |
Loan 7 | 19,309,000 | 17,325,000 |
Loan 6 | 27,670,000 | 37,583,000 |
Loan Five | 55,773,000 | 54,157,000 |
Loan 14 | 94,463,000 | — |
Loan 13 | 99,023,000 | — |
Loan 12 | 29,713,000 | — |
Loan 11 | 125,729,000 | 122,746,000 |
Loan 4 | — | 40,591,000 |
Equity Method Investments | — | 688,366,000 |
Allowance for credit losses | 8,448,000 | 5,275,000 |
Equity method investments | 44,325,000 | 47,251,000 |
AB Commercial Real Estate Debt Fund AB Cred Three | 42,800,000 | 41,200,000 |
AB Commercial Real Estate Debt Fund AB Cred Two | 1,500,000 | 6,000,000 |
Cash and cash equivalents | 6,878,000 | 26,622,000 |
Equity Method Investments | — | 1,057,000 |
Accrued interest receivable | 4,706,000 | 3,750,000 |
Other assets | 48,000 | 111,000 |
Equity Method Investments | — | 10,306,000 |
Reimbursement receivable (see Note 8) | 170,000 | 0 |
Investment Manager | 200,000 | 0 |
Deferred financing costs, net | 1,682,000 | 1,519,000 |
Total assets | 893,372,000 | 749,189,000 |
Equity Method Investments | — | 699,729,000 |
Liabilities and Members' Capital | ||
Liabilities | ||
Credit facility | 51,000,000 | 0 |
Notes payable | 123,502,000 | 123,502,000 |
Total Debt Obligation | 585,698,000 | 446,362,000 |
HSBC Loan | 135,915,000 | 135,915,000 |
Credit facility | 51,000,000 | 0 |
Repurchase agreement | 275,281,000 | 186,945,000 |
Repurchase agreement | 275,281,000 | 186,945,000 |
Notes payable | 259,417,000 | 259,417,000 |
Distribution payable | 8,254,000 | 8,233,000 |
Related Party | 620,000 | 141,000 |
Incentive fee payable (see Note 8) | 2,969,000 | 1,547,000 |
Management fee payable (see Note 8) | 1,046,000 | 1,041,000 |
Investment Manager | 1,000,000 | 1,000,000 |
Accounts payable and accrued expenses | 3,610,000 | 2,573,000 |
Other liabilities | 352,000 | 108,000 |
Equity Method Investments | — | 1,297,000 |
Total liabilities | 602,549,000 | 460,005,000 |
Equity Method Investments | — | 2,275,000 |
Commitments and contingencies (see Note 10) | 0 | 0 |
Members' capital | ||
Common units (30,633,187 and 30,006,873 units issued and outstanding at June 30, 2024 and December 31, 2023) | 300,602,000 | 294,615,000 |
Distributions in excess of earnings | (9,779,000) | (5,431,000) |
Total member's capital | 290,823,000 | 289,184,000 |
Additional Paid-in Capital | 300,602,000 | 294,615,000 |
Distributions in excess of earnings | (9,779,000) | (5,431,000) |
Total liabilities and members' capital | 893,372,000 | 749,189,000 |
Equity Method Investments | — | 699,729,000 |