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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\n \n\nFORM 10-Q\n\n \n\n \n\n(Mark One)\n\n☒\n\n \n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2026\n\n☐\n\n \n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nCommission File Number: 000-56320\n\n \n\n \n\nAB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC\n\n(Exact name of registrant as specified in its charter)\n\n \n\n \n\nDelaware\n\n87-1137341\n\n(State or other jurisdiction of\n\n(I.R.S. Employer\n\nincorporation or organization)\n\nIdentification No.)\n\n \n\n66 Hudson Boulevard East\n\nNew York, New York 10001\n\n(Address of principal executive offices and zip code)\n\n(212) 486-5800\n\n(Registrant’s telephone number, including area code)\n\n \n\n \n\nSecurities registered pursuant to section 12(b) of the Act:\n\n \n\nTitle of each class\n\n \n\nTrading\n\nSymbol(s)\n\n \n\nName of each exchange\n\non which registered\n\n \n\n \n\n \n\n \n\n \n\n—\n\n \n\n—\n\n \n\n—\n\n \n\nSecurities registered pursuant to section 12(g) of the Act:\n\nLimited liability company units\n\n \n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☐\n\n \n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\n \n\nEmerging growth company\n\n☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒\n\nAs of May 14, 2026 the registrant had 49,794,360.06 units of limited liability company interests outstanding. No market value has been computed based upon the fact that no active trading market had been established as of the date of this document.\n\n \n\n \n\n1\n\n \n\nAB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC FORM\n\n10-Q FOR THE QUARTER ENDED MARCH 31, 2026\n\nTable of Contents\n\n \n\nINDEX\n\nPAGE\n\nNO.\n\nPART I.\n\n[FINANCIAL INFORMATION](#consolidated_balance_sheets)\n\n3"}