10-Q Filing

AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC CIK: 1876255 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001193125-22-150051`
Period End Date	20220331
Filing Date	20220513
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	d349647d10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 16 Cash Flow Statement 25 Stockholders Equity 10

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Common unit, issued	`CommonUnitIssued`	4.19M	shares	Point-in-time
Common unit, issued	`CommonUnitIssued`	2.12M	shares	Point-in-time
Common unit, outstanding	`CommonUnitOutstanding`	4.19M	shares	Point-in-time
Common unit, outstanding	`CommonUnitOutstanding`	2.12M	shares	Point-in-time
Mortgage loans receivable	`MortgageLoansOnRealEstate`	$82.53M	USD	Point-in-time
Mortgage loans receivable	`MortgageLoansOnRealEstate`	$123.20M	USD	Point-in-time
Allowance for credit losses	`AllowanceForLoanAndLeaseLossesRealEstate`	$372.05K	USD	Point-in-time
Allowance for credit losses	`AllowanceForLoanAndLeaseLossesRealEstate`	$919.90K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$551.34K	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$69.98K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$178.55K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$132.24K	USD	Point-in-time
Reimbursement receivable (see Note 7)	`DueFromRelatedParties`	$537.90K	USD	Point-in-time
Reimbursement receivable (see Note 7)	`DueFromRelatedParties`	$730.17K	USD	Point-in-time
Deferred financing costs, net	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$151.01K	USD	Point-in-time
Deferred financing costs, net	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$154.49K	USD	Point-in-time
Total assets	`Assets`	$127.63M	USD	Point-in-time
Total assets	`Assets`	$86.21M	USD	Point-in-time
Line of credit payable	`LineOfCredit`	$84.60M	USD	Point-in-time
Line of credit payable	`LineOfCredit`	$64.40M	USD	Point-in-time
Professional fees payable	`AccruedProfessionalFeesCurrentAndNoncurrent`	$226.02K	USD	Point-in-time
Professional fees payable	`AccruedProfessionalFeesCurrentAndNoncurrent`	$440.06K	USD	Point-in-time
Management fees payable	`ManagementFeePayable`	$13.34K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$167.12K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$36.17K	USD	Point-in-time
Administration and custodian fee payable	`AdministrationAndCustodianPayable`	$38.26K	USD	Point-in-time
Administration and custodian fee payable	`AdministrationAndCustodianPayable`	$30.21K	USD	Point-in-time
Organization fee payable	`OrganizationFeePayable`	$278.50K	USD	Point-in-time
Organization fee payable	`OrganizationFeePayable`	$278.50K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$409.64K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$659.63K	USD	Point-in-time
Total Liabilities	`Liabilities`	$65.38M	USD	Point-in-time
Total Liabilities	`Liabilities`	$86.20M	USD	Point-in-time
Commitments and contingencies (see Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common units (4,193,767 and 2,120,510 units issued and outstanding at March 31, 2022 and December 31, 2021)	`CommonUnitIssuanceValue`	$41.75M	USD	Point-in-time
Common units (4,193,767 and 2,120,510 units issued and outstanding at March 31, 2022 and December 31, 2021)	`CommonUnitIssuanceValue`	$21.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-375.68K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-321.16K	USD	Point-in-time
Total members' capital	`MembersEquity`	$41.43M	USD	Point-in-time
Total members' capital	`MembersEquity`	$20.83M	USD	Point-in-time
Total liabilities and members' capital	`LiabilitiesAndStockholdersEquity`	$127.63M	USD	Point-in-time
Total liabilities and members' capital	`LiabilitiesAndStockholdersEquity`	$86.21M	USD	Point-in-time

Income Statement 16 line items

Line Item	Tag	Value	Unit	Period
Interest income net of amortization/accretion	`InterestAndFeeIncomeLoansAndLeases`	$1.19M	USD	1 Quarter
Interest expense	`InterestExpense`	$505.22K	USD	1 Quarter
Provision for credit losses	`ProvisionForLoanLeaseAndOtherLosses`	$547.85K	USD	1 Quarter
Total net interest income	`InterestIncomeExpenseAfterProvisionForLoanLoss`	$140.34K	USD	1 Quarter
Management fees	`ManagementFees`	$128.22K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$214.03K	USD	1 Quarter
Administration and custodian fees	`AdministrationAndCustodianFees`	$52.95K	USD	1 Quarter
Other expenses	`OtherGeneralExpense`	$2.50K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$397.70K	USD	1 Quarter
Reimbursement - Investment Manager (see Note 7)	`ReimbursementInvestmentManager`	$192.27K	USD	1 Quarter
Waived management fees	`WaivedManagementFees`	$114.88K	USD	1 Quarter
Miscellaneous income	`MiscellaneousOtherOperatingIncome`	$4.73K	USD	1 Quarter
Total Other Income	`OtherOperatingIncome`	$311.88K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$54.52K	USD	1 Quarter
Net Income per unit (basic and diluted)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Weighted average units outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.46M	shares	1 Quarter

Cash Flow Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$54.52K	USD	1 Quarter
Amortization of premium and accretion of discount	`AmortizationOfDiscountAndPremiumOnInvestment`	$88.71K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$3.47K	USD	1 Quarter
Provision for credit losses	`ProvisionForLoanLeaseAndOtherLosses`	$547.85K	USD	1 Quarter
(Increase) in accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$481.36K	USD	1 Quarter
(Decrease) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-46.31K	USD	1 Quarter
(Increase) in reimbursement receivable	`IncreaseDecreaseInDueFromRelatedParties`	$192.27K	USD	1 Quarter
Increase in professional fees payable	`IncreaseDecreaseInProfessionalFeesPayable`	$214.03K	USD	1 Quarter
Increase in management fees payable	`IncreaseDecreaseInManagementFeesPayable`	$13.34K	USD	1 Quarter
Increase in interest payable	`IncreaseDecreaseInInterestPayableNet`	$130.94K	USD	1 Quarter
Increase in administration and custodian fee payable	`IncreaseInAdministrationFeesAndCustodianPayable`	$8.05K	USD	1 Quarter
Increase in miscellaneous payable	`IncreaseDecreaseInMiscellaneousPayable`	$-16.09K	USD	1 Quarter
Increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$266.08K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$506.18K	USD	1 Quarter
Origination of mortgage loan receivables	`PaymentsToAcquireLoansHeldForInvestment`	$40.58M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.58M	USD	1 Quarter
Issuance of common units	`ProceedsFromIssuanceOfCommonStock`	$20.55M	USD	1 Quarter
Borrowings on credit facility	`ProceedsFromLongTermLinesOfCredit`	$20.20M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$40.75M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$671.57K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.78M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.11M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.78M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.11M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$271.66K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Members' capital at December 31, 2021 (Value)	`MembersEquity`	$41.43M	USD	Point-in-time
Members' capital at December 31, 2021 (Value)	`MembersEquity`	$20.83M	USD	Point-in-time
Members' capital at December 31, 2021 (Shares)	`CommonUnitOutstanding`	4.19M	shares	Point-in-time
Members' capital at December 31, 2021 (Shares)	`CommonUnitOutstanding`	2.12M	shares	Point-in-time
Issuance of common units (Value)	`StockIssuedDuringPeriodValueNewIssues`	$20.55M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$54.52K	USD	1 Quarter
Members' capital at March 31, 2022 (Value)	`MembersEquity`	$41.43M	USD	Point-in-time
Members' capital at March 31, 2022 (Value)	`MembersEquity`	$20.83M	USD	Point-in-time
Members' capital at March 31, 2022 (Shares)	`CommonUnitOutstanding`	4.19M	shares	Point-in-time
Members' capital at March 31, 2022 (Shares)	`CommonUnitOutstanding`	2.12M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.