10-K
Annual Report
AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC
CIK: 1876255
File #: 000-56320
Balance Sheet
67 line items · 2 periods
XBRL
| Item | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
Assets | ||
Loan receivables held for investment, net, at amortized cost: | ||
Mortgage loans receivable | 1,107,555,000 | 867,687,000 |
Loan 1 | 29,276,000 | 29,276,000 |
Loan 7 | — | 19,625,000 |
Loan 10 | — | 84,493,000 |
Loan 8 | 35,533,000 | 34,540,000 |
Loan 12 | 29,854,000 | 29,758,000 |
Loan 15 | 58,408,000 | 58,417,000 |
Loan 13 | — | 99,275,000 |
Loan 11 | — | 132,228,000 |
Loan 3 | — | 40,971,000 |
Loan Nine | 105,256,000 | 157,509,000 |
Loan 6 | 27,748,000 | 27,715,000 |
Loan 5 | 55,935,000 | 55,935,000 |
Loan 14 | 99,502,000 | 97,945,000 |
Loan 17 | 68,408,000 | — |
Loan 23 | 96,387,000 | — |
Loan 16 | 62,092,000 | — |
Loan 20 | 119,060,000 | — |
Loan 18 | 76,873,000 | — |
Loan 19 | 34,768,000 | — |
Loan 21 | 26,332,000 | — |
Loan 22 | 111,036,000 | — |
Loan 24 | 71,087,000 | — |
Allowance for credit losses | 4,439,000 | 6,127,000 |
Commercial debt securities, at carrying value (cost of $7,700 and $0, respectively) | 7,716,000 | 0 |
Equity method investments | 45,486,000 | 31,045,000 |
AB CRED III | 23,000,000 | 27,300,000 |
Variable Interest Entity | 19,151,000 | 0 |
AB CRED II | 3,400,000 | 3,700,000 |
Horton Plaza JV LLC | 19,200,000 | 0 |
Cash and cash equivalents | 21,324,000 | 10,913,000 |
Accrued interest receivable | 4,840,000 | 5,538,000 |
Other assets | 65,000 | 52,000 |
Deferred financing costs, net | 1,950,000 | 1,208,000 |
Total assets | 1,184,497,000 | 910,316,000 |
Variable Interest Entity | 19,151,000 | 0 |
Liabilities and Members' Capital | ||
Liabilities | ||
Credit facility | 0 | 38,000,000 |
Commercial Debt Securities | 7,700,000 | 0 |
State Street Credit Facility | 0 | 38,000,000 |
Total Debt Obligation | 772,050,000 | 545,528,000 |
Citibank repurchase agreement | 102,960,000 | 0 |
Morgan Stanley repurchase agreement | 445,327,000 | 246,491,000 |
HSBC Loan | 143,768,000 | 141,330,000 |
Notes payable | 79,995,000 | 119,707,000 |
Repurchase agreement | 548,288,000 | 246,491,000 |
Notes payable | 223,762,000 | 261,037,000 |
Distribution payable | 4,760,000 | 8,269,000 |
Redemption payable | 1,882,000 | 4,094,000 |
Related Party | 615,000 | 1,158,000 |
Reimbursement payable (see Note 9) | 0 | 168,000 |
Incentive fee payable (see Note 9) | 101,000 | 1,152,000 |
Management fee payable (see Note 9) | 2,794,000 | 2,459,000 |
Investment Manager | 2,800,000 | 2,500,000 |
Accounts payable and accrued expenses | 3,379,000 | 2,868,000 |
Other liabilities | 528,000 | 509,000 |
Total Liabilities | 786,109,000 | 566,205,000 |
Members' capital | ||
Common units ( 42,420,090 and 36,290,817 units issued and outstanding at December 31, 2025 and 2024, respectively) | 411,932,000 | 354,488,000 |
Distributions in excess of earnings | (13,544,000) | (10,377,000) |
Total members' capital | 398,388,000 | 344,111,000 |
Additional Paid-in Capital | 411,932,000 | 354,488,000 |
Distributions in excess of earnings | (13,544,000) | (10,377,000) |
Total liabilities and equity | 1,184,497,000 | 910,316,000 |