10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001193125-23-082066`
Period End Date	20221231
Filing Date	20230328
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	d691375d10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 44 Cash Flow Statement 76 Stockholders Equity 15

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Common unit, issued	`CommonUnitIssued`	11.42M	shares	Point-in-time
Common unit, issued	`CommonUnitIssued`	2.12M	shares	Point-in-time
Common unit, outstanding	`CommonUnitOutstanding`	2.12M	shares	Point-in-time
Common unit, outstanding	`CommonUnitOutstanding`	11.42M	shares	Point-in-time
Mortgage loans receivable	`MortgageLoansOnRealEstate`	$82.53M	USD	Point-in-time
Mortgage loans receivable	`MortgageLoansOnRealEstate`	$924.02M	USD	Point-in-time
Mortgage loans receivable	`MortgageLoansOnRealEstate`	$264.90M	USD	Point-in-time
Allowance for credit losses	`AllowanceForLoanAndLeaseLossesRealEstate`	$1.60M	USD	Point-in-time
Allowance for credit losses	`AllowanceForLoanAndLeaseLossesRealEstate`	$372.05K	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	-	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$58.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$69.98K	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$1.42M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$178.55K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	-	USD	Point-in-time
Reimbursement receivable (see Note 8)	`DueFromRelatedParties`	$537.90K	USD	Point-in-time
Reimbursement receivable (see Note 8)	`DueFromRelatedParties`	$890.28K	USD	Point-in-time
Deferred financing costs, net	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$742.31K	USD	Point-in-time
Deferred financing costs, net	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$154.49K	USD	Point-in-time
Total assets	`Assets`	$330.08M	USD	Point-in-time
Total assets	`Assets`	$86.21M	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Debt obligations	`LongTermDebt`	$211.45M	USD	Point-in-time
Debt obligations	`LongTermDebt`	$64.40M	USD	Point-in-time
Distribution payable	`DividendsPayableCurrentAndNoncurrent`	$4.90M	USD	Point-in-time
Distribution payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Professional fees payable	`AccruedProfessionalFeesCurrentAndNoncurrent`	$226.02K	USD	Point-in-time
Professional fees payable	`AccruedProfessionalFeesCurrentAndNoncurrent`	$1.01M	USD	Point-in-time
Management fees payable	`ManagementFeePayable`	$865.05K	USD	Point-in-time
Management fees payable	`ManagementFeePayable`	-	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$36.17K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$787.34K	USD	Point-in-time
Administration and custodian fee payable	`AdministrationAndCustodianPayable`	$30.21K	USD	Point-in-time
Administration and custodian fee payable	`AdministrationAndCustodianPayable`	$62.77K	USD	Point-in-time
Organization fee payable	`OrganizationFeePayable`	$278.50K	USD	Point-in-time
Organization fee payable	`OrganizationFeePayable`	$278.50K	USD	Point-in-time
Incentive Fees Payable	`IncentiveFeesPayable`	-	USD	Point-in-time
Incentive Fees Payable	`IncentiveFeesPayable`	$268.49K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$4.08M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$409.64K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$276.06K	USD	Point-in-time
Total Liabilities	`Liabilities`	$219.91M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.01M	USD	Point-in-time
Total Liabilities	`Liabilities`	$65.38M	USD	Point-in-time
Commitments and contingencies (see Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common units (11,424,012 and 2,120,510 units issued and outstanding at December 31, 2022 and 2021, respectively)	`CommonUnitIssuanceValue`	$112.60M	USD	Point-in-time
Common units (11,424,012 and 2,120,510 units issued and outstanding at December 31, 2022 and 2021, respectively)	`CommonUnitIssuanceValue`	$21.21M	USD	Point-in-time
Distributions in excess of earnings	`RetainedEarningsAccumulatedDeficit`	$-2.43M	USD	Point-in-time
Distributions in excess of earnings	`RetainedEarningsAccumulatedDeficit`	$-375.68K	USD	Point-in-time
Total members' capital	`MembersEquity`	$110.17M	USD	Point-in-time
Total members' capital	`MembersEquity`	$20.83M	USD	Point-in-time
Total members' capital	`MembersEquity`	-	USD	Point-in-time
Total liabilities and members' capital	`LiabilitiesAndStockholdersEquity`	$86.21M	USD	Point-in-time
Total liabilities and members' capital	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time
Total liabilities and members' capital	`LiabilitiesAndStockholdersEquity`	$330.08M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Interest income net of amortization/accretion	`InterestAndFeeIncomeLoansAndLeases`	$79.42K	USD	2 Qtrs
Interest income net of amortization/accretion	`InterestAndFeeIncomeLoansAndLeases`	$13.00M	USD	Annual
Interest expense	`InterestExpense`	$70.14K	USD	2 Qtrs
Interest expense	`InterestExpense`	$7.43M	USD	Annual
Net interest income	`InterestIncomeExpenseNet`	$9.29K	USD	2 Qtrs
Net interest income	`InterestIncomeExpenseNet`	$5.58M	USD	Annual
Provision for credit losses	`ProvisionForLoanLeaseAndOtherLosses`	$1.23M	USD	Annual
Provision for credit losses	`ProvisionForLoanLeaseAndOtherLosses`	$372.05K	USD	2 Qtrs
Total net interest income after provision for credit losses	`InterestIncomeExpenseAfterProvisionForLoanLoss`	$4.34M	USD	Annual
Total net interest income after provision for credit losses	`InterestIncomeExpenseAfterProvisionForLoanLoss`	$-362.76K	USD	2 Qtrs
Management fees	`ManagementFees`	$31.79K	USD	2 Qtrs
Management fees	`ManagementFees`	$1.17M	USD	Annual
Incentive fees	`IncentiveFeeExpense`	-	USD	2 Qtrs
Incentive fees	`IncentiveFeeExpense`	$268.49K	USD	Annual
Professional fees	`ProfessionalFees`	$226.02K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$902.43K	USD	Annual
Administration and custodian fees	`AdministrationAndCustodianFees`	$36.30K	USD	2 Qtrs
Administration and custodian fees	`AdministrationAndCustodianFees`	$165.04K	USD	Annual
Organization expenses	`OrganizationExpenses`	$278.50K	USD	2 Qtrs
Organization expenses	`OrganizationExpenses`	-	USD	Annual
Other expenses	`OtherGeneralExpense`	$15.99K	USD	Annual
Other expenses	`OtherGeneralExpense`	$10.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.52M	USD	Annual
Total operating expenses	`OperatingExpenses`	$582.62K	USD	2 Qtrs
Reimbursement - Investment Manager (see Note 8)	`ReimbursementInvestmentManager`	$537.90K	USD	2 Qtrs
Reimbursement - Investment Manager (see Note 8)	`ReimbursementInvestmentManager`	$352.38K	USD	Annual
Waived management fees	`WaivedManagementFees`	$300.32K	USD	Annual
Waived management fees	`WaivedManagementFees`	$31.79K	USD	2 Qtrs
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	$3.80M	USD	Annual
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	-	USD	2 Qtrs
Other income	`MiscellaneousOtherOperatingIncome`	$44.59K	USD	Annual
Other income	`MiscellaneousOtherOperatingIncome`	-	USD	2 Qtrs
Total Other Income	`OtherOperatingIncome`	$4.50M	USD	Annual
Total Other Income	`OtherOperatingIncome`	$569.70K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-375.68K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$6.32M	USD	Annual
Net income per unit, Basic	`EarningsPerShareBasic`	$-0.18	USD	2 Qtrs
Net income per unit, Basic	`EarningsPerShareBasic`	$0.77	USD	Annual
Net income per unit, Diluted	`EarningsPerShareDiluted`	$0.77	USD	Annual
Net income per unit, Diluted	`EarningsPerShareDiluted`	$-0.18	USD	2 Qtrs
Weighted average units outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.12M	shares	2 Qtrs
Weighted average units outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.19M	shares	Annual
Weighted average units outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.12M	shares	2 Qtrs
Weighted average units outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.19M	shares	Annual

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-375.68K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$6.32M	USD	Annual
Amortization of net loan fees and discount/premiums on loans receivable	`AmortizationOfNetLoanFeesAndDiscountPremiumsOnLoansReceivable`	$9.45K	USD	2 Qtrs
Amortization of net loan fees and discount/premiums on loans receivable	`AmortizationOfNetLoanFeesAndDiscountPremiumsOnLoansReceivable`	$722.61K	USD	Annual
Amortization of basis difference of equity method investments	`AmortizationOfBasisDifferenceEquityMethodInvestments`	$-2.08M	USD	Annual
Amortization of basis difference of equity method investments	`AmortizationOfBasisDifferenceEquityMethodInvestments`	-	USD	2 Qtrs
Realized amortization of basis difference of equity method investments	`RealizedAmortizationOfBasisDifferenceEquityMethodInvestments`	$723.61K	USD	Annual
Realized amortization of basis difference of equity method investments	`RealizedAmortizationOfBasisDifferenceEquityMethodInvestments`	-	USD	2 Qtrs
Income from equity method investments	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	-	USD	2 Qtrs
Income from equity method investments	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$1.72M	USD	Annual
Distributions of earnings from equity method investments	`DistributedEarnings`	$1.72M	USD	Annual
Distributions of earnings from equity method investments	`DistributedEarnings`	-	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$787.82K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$33.97K	USD	2 Qtrs
Provision for credit losses	`ProvisionForLoanLeaseAndOtherLosses`	$1.23M	USD	Annual
Provision for credit losses	`ProvisionForLoanLeaseAndOtherLosses`	$372.05K	USD	2 Qtrs
(Increase) in accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$1.35M	USD	Annual
(Increase) in accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$69.98K	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-178.55K	USD	Annual
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$178.55K	USD	2 Qtrs
(Increase) in reimbursement receivable	`IncreaseDecreaseInDueFromRelatedParties`	$537.90K	USD	2 Qtrs
(Increase) in reimbursement receivable	`IncreaseDecreaseInDueFromRelatedParties`	$352.38K	USD	Annual
Increase in professional fees payable	`IncreaseDecreaseInProfessionalFeesPayable`	$226.02K	USD	2 Qtrs
Increase in professional fees payable	`IncreaseDecreaseInProfessionalFeesPayable`	$784.85K	USD	Annual
Increase in management fees payable	`IncreaseDecreaseInManagementFeesPayable`	$865.05K	USD	Annual
Increase in management fees payable	`IncreaseDecreaseInManagementFeesPayable`	-	USD	2 Qtrs
Increase in interest payable	`IncreaseDecreaseInInterestPayableNet`	$751.17K	USD	Annual
Increase in interest payable	`IncreaseDecreaseInInterestPayableNet`	$36.17K	USD	2 Qtrs
Increase in administration and custodian fee payable	`IncreaseInAdministrationFeesAndCustodianPayable`	$32.56K	USD	Annual
Increase in administration and custodian fee payable	`IncreaseInAdministrationFeesAndCustodianPayable`	$30.21K	USD	2 Qtrs
Increase in incentive fees payable	`IncreaseDecreaseInIncentiveFeesPayable`	-	USD	2 Qtrs
Increase in incentive fees payable	`IncreaseDecreaseInIncentiveFeesPayable`	$268.49K	USD	Annual
Increase in organization fee payable	`IncreaseDecreaseInOrganizationFeePayable`	-	USD	Annual
Increase in organization fee payable	`IncreaseDecreaseInOrganizationFeePayable`	$278.50K	USD	2 Qtrs
(Decrease) increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$409.64K	USD	2 Qtrs
(Decrease) increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-133.58K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.31M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$215.00K	USD	2 Qtrs
Origination and purchase of mortgage loan receivables	`PaymentsToAcquireLoansHeldForInvestment`	$82.52M	USD	2 Qtrs
Origination and purchase of mortgage loan receivables	`PaymentsToAcquireLoansHeldForInvestment`	$182.14M	USD	Annual
Repayment of mortgage loans receivable	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$502.48K	USD	Annual
Repayment of mortgage loans receivable	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	-	USD	2 Qtrs
Purchase of equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$74.65M	USD	Annual
Purchase of equity method investments	`PaymentsToAcquireEquityMethodInvestments`	-	USD	2 Qtrs
Distributions from equity method investments in excess of earnings	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$17.47M	USD	Annual
Distributions from equity method investments in excess of earnings	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-82.52M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-238.82M	USD	Annual
Issuance of common units	`ProceedsFromIssuanceOfCommonStock`	$21.21M	USD	2 Qtrs
Issuance of common units	`ProceedsFromIssuanceOfCommonStock`	$91.40M	USD	Annual
Distributions paid	`PaymentsOfDistributionsToAffiliates`	-	USD	2 Qtrs
Distributions paid	`PaymentsOfDistributionsToAffiliates`	$3.47M	USD	Annual
Line of credit borrowings	`ProceedsFromLongTermLinesOfCredit`	$64.40M	USD	2 Qtrs
Line of credit borrowings	`ProceedsFromLongTermLinesOfCredit`	$145.30M	USD	Annual
Line of credit paydowns	`RepaymentsOfLongTermLinesOfCredit`	-	USD	2 Qtrs
Line of credit paydowns	`RepaymentsOfLongTermLinesOfCredit`	$156.90M	USD	Annual
Repurchase agreement borrowings	`ProceedsFromIssuanceOfOtherLongTermDebt`	$159.01M	USD	Annual
Repurchase agreement borrowings	`ProceedsFromIssuanceOfOtherLongTermDebt`	-	USD	2 Qtrs
Repurchase agreement paydowns	`RepaymentsOfOtherLongTermDebt`	-	USD	2 Qtrs
Repurchase agreement paydowns	`RepaymentsOfOtherLongTermDebt`	$351.73K	USD	Annual
Deferred financing costs paid	`PaymentsOfFinancingCosts`	$188.45K	USD	2 Qtrs
Deferred financing costs paid	`PaymentsOfFinancingCosts`	$1.38M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$233.60M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$85.42M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.09M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.11M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.11M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.11M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.20M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$5.88M	USD	Annual
Cash paid during the period for interest	`InterestPaidNet`	-	USD	2 Qtrs
Increase in distribution payable	`DistributionToMembersIncurredButNotPaidDuringThePeriod`	$4.90M	USD	Annual
Increase in distribution payable	`DistributionToMembersIncurredButNotPaidDuringThePeriod`	-	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Members' capital, Beginning balance (Value)	`MembersEquity`	$110.17M	USD	Point-in-time
Members' capital, Beginning balance (Value)	`MembersEquity`	$20.83M	USD	Point-in-time
Members' capital, Beginning balance (Value)	`MembersEquity`	-	USD	Point-in-time
Members' capital, Beginning balance (Shares)	`CommonUnitOutstanding`	2.12M	shares	Point-in-time
Members' capital, Beginning balance (Shares)	`CommonUnitOutstanding`	11.42M	shares	Point-in-time
Issuance of common units (Value)	`StockIssuedDuringPeriodValueNewIssues`	$91.40M	USD	Annual
Issuance of common units (Value)	`StockIssuedDuringPeriodValueNewIssues`	$21.21M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-375.68K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$6.32M	USD	Annual
Distributions declared	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared`	$8.38M	USD	Annual
Members' capital, Ending balance (Value)	`MembersEquity`	$110.17M	USD	Point-in-time
Members' capital, Ending balance (Value)	`MembersEquity`	$20.83M	USD	Point-in-time
Members' capital, Ending balance (Value)	`MembersEquity`	-	USD	Point-in-time
Members' capital, Ending balance (Shares)	`CommonUnitOutstanding`	2.12M	shares	Point-in-time
Members' capital, Ending balance (Shares)	`CommonUnitOutstanding`	11.42M	shares	Point-in-time

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