AB Commercial Real Estate Debt Fund Files Q2 2025 10-Q

TL;DR

AB Commercial Real Estate Debt Fund dropped its Q2 2025 10-Q. Check financials.

AI Summary

AB Commercial Real Estate Private Debt Fund, LLC filed its 10-Q for the period ending June 30, 2025. The filing details financial information for the company, which operates in the Real Estate Investment Trusts sector. Key financial data and operational details are presented for the second quarter of 2025.

Why It Matters

This filing provides investors and analysts with a quarterly update on the financial health and operational performance of AB Commercial Real Estate Private Debt Fund, LLC, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a private debt fund in real estate, it is exposed to market fluctuations and credit risks inherent in the sector.

Key Numbers

• N/A — Total Assets (Specific asset figures were not detailed in the provided snippet.)
• N/A — Total Liabilities (Specific liability figures were not detailed in the provided snippet.)
• N/A — Net Income (Specific income figures were not detailed in the provided snippet.)

Key Players & Entities

• AB Commercial Real Estate Private Debt Fund, LLC (company) — Filer
• 20250630 (date) — Reporting Period End Date
• 212-969-1000 (phone_number) — Business Phone
• 66 HUDSON BOULEVARD EAST, NEW YORK, NY 10001 (address) — Business Address

FAQ

Filing Documents

• ck0001876255-20250630.htm (10-Q) — 2584KB
• ck0001876255-ex31_1.htm (EX-31.1) — 19KB
• ck0001876255-ex31_2.htm (EX-31.2) — 19KB
• ck0001876255-ex32_1.htm (EX-32.1) — 19KB
• 0000950170-25-108837.txt ( ) — 9914KB
• ck0001876255-20250630.xsd (EX-101.SCH) — 960KB
• ck0001876255-20250630_htm.xml (XML) — 2284KB

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 40 PART II. OTHER INFORMATION 41 Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42

SIGNATURES

SIGNATURES 43 AB Commerci al Real Estate Private Debt Fund, LLC Consolida ted Balance Sheets (in thousands) As of June 30, 2025 (Unaudited) As of December 31, 2024 Assets Loan receivables held for investment, net, at amortized cost Mortgage loans receivable $ 969,565 $ 867,687 Allowance for credit losses ( 6,512 ) ( 6,127 ) Commercial debt securities, at fair value (cost of $ 5,000 and $ 0 , respectively) 5,006 — Equity method investments 27,157 31,045 Cash and cash equivalents 114,775 10,913 Accrued interest receivable 3,984 5,538 Other assets 98 52 Deferred financing costs, net 1,927 1,208 Total assets $ 1,116,000 $ 910,316 Liabilities and Members' Capital Liabilities Credit facility $ 120,000 $ 38,000 Repurchase agreement 380,771 246,491 Notes payable 205,787 261,037 Capital received in advance 50,804 — Distribution payable 7,832 8,269 Redemption payable 3,608 4,094 Related party payables and accrued expenses (See Note 9) 665 1,158 Reimbursement payable (see Note 9) — 168 Incentive fee payable (see Note 9) 673 1,152 Management fee payable (see Note 9) 2,417 2,459 Accounts payable and accrued expenses 3,690 2,868 Other liabilities 822 509 Total liabilities $ 777,069 $ 566,205 Commitments and contingencies (see Note 11) — — 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 $ 354,488 Distributions in excess of earnings ( 15,130 ) ( 10,377 ) Total member's capital 338,931 344,111 Total liabilities and members' capital $ 1,116,000 $ 910,316 See Notes to Consolidated Financial Statements 1 AB Commercial Real Estate Private Debt Fund, LLC Consolidated Statements of Income (in thousands) (Unaudited) For the Three Months Ended June 30, For the Six

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements June 30, 2025 1. Organization and Business Purpose AB Commercial Real Estate Private Debt Fund, LLC (the "Company") is a Delaware limited liability company formed on June 1, 2021 ("Formation") to operate as a private investment entity generally for qualified US investors which commenced operations in December 2021. The Company has elected to be taxed as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). The investment objective of the Company is to generate attractive risk-adjusted returns through investments primarily in loans secured by high quality commercial real estate properties located in the United States. The Company seeks to prioritize capital preservation and high current income by investing primarily in directly originated first mortgage loans, senior and junior mezzanine loans, B-notes, second mortgages or other subordinated loans. To a lesser extent, the Company invests in the following: legacy, new issue, and single-borrower commercial mortgage backed securities ("CMBS"); commercial real estate- related securities; performing, sub-performing and non-performing/distressed loans; and net leased assets. While the Company focuses mainly on loans directly secured by commercial real estate-related assets, it also has the flexibility to invest in other types of debt investments, including unsecured debt of entities that directly or indirectly own real property or real estate-related debt, and invests in commercial real estate-related preferred and common equity interests where doing so is in keeping with the investment objective. The Company conducts private offerings of its Units to investors in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The Company's initial private offering of Units (the "Private Offering") has been conducted in reliance on Regulation D under the Securiti

View Full Filing

View this 10-Q filing on SEC EDGAR